This sub-committee of the Board oversees and monitors the financial affairs of Huntington's Victoria. It is also responsible to ensure that all legislative, statutory and contractual obligations are met and that an appropriate risk management plan is in place. The committee reports directly to the Board through the Treasurer.

Chair          Treasurer
Member    Richard Weston (Board member)

Terms of Reference

Purpose

This sub-committee has the responsibility to oversee and monitor the financial affairs of Huntington's Victoria. The sub committee is also responsible to ensure that all legislative, statutory and contractual obligations are met.

Scope

The scope includes all financial arrangements of Huntington’s Victoria.

Objectives

1. Monitor the financial performance of the organisation including cashflow, comparison of actual to budgeted performance on a monthly and year to date basis.
2. Determine financial control systems, accounting procedures and security arrangements necessary for risk management within the organisation.
   
3. Develop appropriate financial report formats for presentation to the Board.
4. Meet and review the annual report with the financial auditor.
5. Draft policy regarding the financial management of Huntington's Victoria, for Board discussion and approval.
6. Identify and routinely review legislative, statutory, and contractual obligations.
7. Conduct a regular risk management analysis and develop priorities for risk management activities.
   
8. Recommend to the Board requests for changes to staff salaries or requests for capital expenditure.

Membership

• Treasurer, and 1 Board member.
• Treasurer is the chairperson.
• One other person (Board member/member/non-member with finance skills) 

Frequency of meeting

At least monthly, by teleconference, in the week before the Board meeting

Reporting to

Board (at monthly meetings)

Approved Board: October 2008

Date for review: October 2009