Committees of the Board

The Board from time to time establishes committees to streamline the discharge of its responsibilities and for each standing committee adopts a formal charter setting out the matters relevant to the composition, responsibilities and administration of such committees.

Finance Committee

The Board has established a Finance Committee which operates under a Charter approved by the Board. The Finance Committee oversees the financial health of Carrington, anticipates potential problems and plans remedies.

The Committee develops appropriate financial plans to achieve Carrington's objectives and maintains its financial viability.

The Committee recommends to the Board on major policy decisions concerning the financies of the business operation. Evaluates and recommends to the Board for approval the operating and Capital Budgets for Carrington and also the budget for the Retirement Village.

The Committee reviews financial reports and maintains operating performance and statistics on a regular basis.

The Chief Executive, the Financial Services Manager and the Operations Manager are invited to attend the Finance Committee Meetings.

Care Review Committee

The purpose of the Care Review Committee is to maintain an ongoing evaluation of the standards of services provided by Carrington with a view to further improving the standard of resident/client service. The role of the Committee is to determine appropriate and desirable standards and practices for care delivery.

The Committee monitors, assesses, reviews and evaluates the provision of care services provided to residents and clients by Carrington Centennial Care.

The Committee approves and oversees the development and implementation of all care policies and provides advice and makes recommendations to the Board.

Property and Development Committee

The role of the Property and Development Committee is to determine appropriate levels of desirable standards for the Company's property.

The Committee ensures all building developments are efficiently and functionally designed and constructed to provide effective and financially viable service delivery.

The Committee provides technical advice and expertise on development, construction, maintenance and property matters. The Committee monitors, assesses, reviews and evaluates the provision of maintenance services provided by Carrington Centennial Care.

Tne Commitee approves and oversees the development and implementation of all property and development policies and provides advice and recommendations to the Board.

Risk Management Committee

The Risk Management Committee reviews the scope and performance of the external audit and makes recommendations regarding reappointment of external auditors to the Board. The independence of the external auditors is also reviewed including the range of services provided in the context of all consulting services brought by the Company.

The Committee from time to time shall carry out a risk analysis of specific aspects of the Company's financial responsibilities and other key areas of performance and report its findings to the Board.

The Committee shall provide through regular meetings a forum for communications between the Board, senior management and external auditors.