Finance Committee

The primary responsibilities of the Committee are to provide the Territory Council and the President with advice and guidance on issues affecting the financial strategy of the business including:

Review of the operational and capital budgets as prepared by management and recommend it to the Territory Council and President for approval, including, but not limited to preparation of the budgets, the risk analysis attached to those budgets and the financial modelling;

• Review of the investment guidelines and monitoring the financial performance of funds invested by the Society;
• Where necessary and appropriate review the pricing policies across business units;
• Monitoring the taxation strategy and obligations of the Society;
• Reviewing and approving business cases within the approved operational budgets;
• Providing guidance both to management and the Territory Council and the President on draft capital and operational proposals prior to submission to the Territory Council for approval which are not within the scope of the approved budgets or are part of future strategy;
• Periodic review of forecasts and operational expenditures and income; and
• Managing conflicts of interests of any committee member relating to any contracts or undertakings of the Society.

The purpose of the Committee is to assist the Territory Council and the President in the effective discharge of its responsibilities for developing financial strategies of the Society and involves working to the following objectives:

• Assisting the Territory Council and President to discharge its responsibility to manage the budgetary processes and strategic financial management of the Society;
• Provide a formal forum for communication from the Territory Council and senior financial management of the Society and other senior management where deemed by the Committee as needed to assist it in its purposes;
• Improving the quality of internal and external reporting of financial and non-financial information
• Developing and maintaining a financial management culture within the Society that ensures integrity and credibility in financial reporting and ensures rigorous review of all financial projects planned or proposed by the Society;
  • The Committee does not relieve any Territory Councillor or the President of their responsibilities for these matters;
  • The Committee is advisory in its role and other than to the Board the Committee has no direct obligation to or from management; and
  • The purpose of the Committee does not extend to operational financial management of the Society

2024 Meeting Dates

Members:

• Stewart Chapman (Chair) 
• John Feint
• Brian Stacey

Advisers:

• Lucy Hohnen (CEO)

Secretariat:

• Catherine Zappulla

Finance Committee Charter