Financial Governance Working Group
Chair: Treasurer – Jeremy Huntley (email@example.com)
The overall Financial Governance Working Group objectives are:
- With input from the Board, develop an annual budget for the Board’s endorsement, including consideration of individual budget requests
- Monitor expenditures and receipts against that budget and recommend to the Board within-year adjustments to the budget with an aim to deliver ‘not-for-loss’ overall performance
- Recommend to the Board annual adjustments to membership fees.
- Seek to identify and enhance financial management practices and process of the organisation
- Seek to identify new cost-savings and revenue-raising measures for the organisation
- Perform bank account signatory responsibilities on behalf of the Board (for operating and investment accounts)
- Monitor the performance of invested monies and develop processes and recommendations for changing investment vehicles when necessary
- Monitor the performance of contracted-services and recommend to the Board changes in service providers where necessary, including insurance and banking institutions.
- Monitor compliance of Public Fund and other statutory financial responsibilities (e.g. timing of BAS and Superannuation payments)
- Coordinate the annual audit and implement audit recommendations
- Administer the financial management of the Holsworth Wildlife Research Endowment Fund
- Seek to develop strategic sponsorship and service partnerships with external agencies and organisations to enable delivery of broader services to membership.
- Ensure alignment and communications with the Fundraising and Sponsorship Working Group
- Maintain financial governance policies and documentation
- Undertake succession planning for the role of Treasurer
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