Finance Committee
Purpose
Safeguarding of SAYFC finances.
Who?
- Three Reps per Region
- Two Observers
- Past Finance Chair
- Finance Chair
- Finance Vice Chair
The tasks of the Finance Committee include:
- Ensuring SAYFC has income strategy with a clear understanding of the income needed and a business plan to show how we will generate it.
- Regularly reviewing the sustainability of our income sources and business model in the short, medium and long term, and identifying diversified income streams
- Ensuring proper systems in place for recording when money comes in and goes out
- Produce annual accounts which show all of the Associations financial activity at the end of the year.
- Investments prudently and properly managed
- review of all major financial or financially high-risk projects/events
- Approving an annual budget
- Reviewing cash flow
- Appointment, re-appointment or removal of an external auditor