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Finance & General Purposes Committee

1 Objectives 

1.1  The Committee shall:    
  • Consider policies and procedures to ensure that the Trust maintains proper accounts and related records.
  • Consider and monitor the Trust’s financial plans to ensure they reflect the corporate and strategic plans of the Trust. 

2 Membership 

2.1 The Committee shall be appointed by the Pontefract Academies Trust and shall consist of at least 3 committee members (one of whom maybe an external co-opted committee member)
2.2 A quorum shall be 2 members.

3 Appointment of Chair and Vice Chair 

3.1 At the first meeting of the Committee each Trust year, the members shall appoint a Chair and Vice Chair from among their number. 
3.2 The Chair and Vice Chair shall hold office for one year, and until the first meeting of the Committee of each Trust year. 
3.3 At the end of the term of office the Chair and Vice Chair shall be eligible for re- appointment. 
3.4 If the Chair and Vice Chair are absent from any meeting of the Committee, the members shall choose one of their number to act as Chair for that meeting. 

4 Meetings 

4.1  Attendance    
  • The Committee has the authority to invite such persons to attend meetings as may be desirable and necessary.
  • The Company Secretary shall be the Clerk to the Finance and General Purposes Committee. 
4.2  Frequency of Meetings    
  • Meetings shall be held not less than three times per year.
  • In any event, the Committee must consider a minimum number of items of business each year for it to be able to function effectively. 

5 Duties 

5.1  The duties of the Committee shall be:    
  • Develop policies and procedures to ensure that the Trust maintains proper accounts and related records
  • Ensure systems are in place for all employees and creditors to be paid by their due date and that such systems are effective
  • Ensure that all income received is correctly accounted for and that income receivable is collected promptly.
  • Receive and comment on the Trust’s revenue and capital budgets ensuring that they reflect the Trust’s corporate and strategic plans.
  • To ensure compliance with the overall financial plan for the Trust, oversee budget monitoring and ensuring corrective action takes place when required.
  • Ensure effective integration of budgeting and operational planning
  • Ensure that the requirement in the funding agreement for the Trust to remain financially solvent is fulfilled
  • Ensure that Value for Money is considered when making decisions
  • Overseeing the Trust’s cash management policies, banking arrangements, and insurance arrangements
  • Ensure that risks associated with the Trust’s plans have been fully considered
  • Any other matters as directed by the Trust Board

6 Reporting Procedures 

6.1 The Finance and General Purposes Committee will report to the Trust Board after each meeting.
6.2 The clerk to the committee shall circulate minutes of the meetings of the committee to all Trust members.

 COMMITTEE MEMBERS

Ref No.

Name of Trustee

1.

Martin Kingsley Brooke

2.

David Wilkin

3.

Julie Ann Craig