The Finance and General Purposes Committee is a delegated committee of the Board of Trustees. It advises the Chief Executive and reports to the Board of Trustees on all matters relating to financial policy and the financial arrangements, policies and arrangements for general resourcing, and on all matters relating to the staffing resources of OCNLR.

Responsibilities

The Finance & General Purposes Committee will:

1. advise the Board of Trustees on all matters relating to finance, general purposes and staffing policy and the Chief Executive on financial arrangements;
2. ensure that adequate and comprehensive financial controls are in place and implemented in line with Financial Regulations;
3. recommend the annual accounts to the Board;
4. advise on the appointment of the Auditors and on matters arising from the audit;
5. consider and recommend annual estimates of income and expenditure to the Board of Trustees;
6. monitor income and expenditure against the estimates referred to above;
7. monitor and recommend action in relation to debtors;
8. request and receive reports from other Committees on any matter having a financial implication;
9. contribute to and review financial planning as part of the strategic and business planning process;
10. monitor and advise on staffing arrangements and budgets;
11. have oversight of the assessment of risk and actions taken to minimise risk;
12. ensure that the ICT requirements of the business are safeguarded;
13. monitor other aspects of activities including internal targets, health and safety.

In undertaking the above duties the committee will aim to comply with all relevant legislation and will conduct its business in accordance with Nolan principles.

Membership

The F&GP committee must include a minimum of four trustees of OCNLR, one of whom will be the chair. The Chief Executive and Deputy Chief Executive are in attendance. The Company Accountant is in attendance for agenda items relating to finance.

Mode of Operation

Meetings

• The committee meets four times per year.
• The meeting is quorate if attended by two trustees and either the Chief Executive or Deputy Chief Executive.
• The Deputy Chief Executive acts as secretary to the F&GP.