The Finance Committee operates under a delegated authority of the Council of the College. Its overall responsibility is to keep under review the present and future financial position of the College and advise the Council about financial matters that affect the operation and viability of the College.
- To review the annual financial statements in conjunction with the external auditors focusing on any changes in accounting policy or practice, major judgmental areas, significant adjustments resulting from the audit and compliance with accounting standards and statutory requirements.
- To consider, at least annually, an assessment of the financial and related risk exposures of the College and to report to Council thereon to enable Council to consider any statement on risk exposures made in the Annual Report.
- To consider the annual budget and recommend its approval to the Council.
- To consider periodic reports on the financial position of the College and to request and consider reports on the financial and operational aspects of specific College activities.
- To consider the level of College subscriptions and recommend them to Council for approval at the Annual General Meeting
- To consider the level of charges for other College activities and recommend their approval by Council
- To consider major contracts which the College is proposing to enter into and advise of the financial implications.
- To consider any proposed major gifts, sponsorships or other financial support for the College and advise Council of the financial and other implications.
- To review the performance of the College’s Investments
Contact the Finance department.