ASAJ - FINANCE AND AUDIT COMMITTEE
OPERATIONAL FRAMEWORK
|
| Name of Committee: |
Finance and Audit Committee
|
| Scope of Responsibility: |
Budgets, Fundraising and Statutory Reporting.
|
| Committee Objectives: |
|
|
|
1. |
To develop and control the expenditure budgets of the Association.
|
| 2. |
To plan, organize and control the Association funding activities.
|
| 3. |
To develop operational policies for executing the financial functions of the Association.
|
| Description of Duties: |
|
|
|
1. |
Coordinate the development of the Association's annual and medium term budgets as well as the funding and control of such budgets within the approved limits of Council.
|
| 2. |
Receive and review meets and other committee budgets and approve expenditure within the prescribed guidelines.
|
| 3. |
Arrange for and receive all gate receipt from fundraising activities..
|
| 4. |
Establish and monitor all internal guidelines fir the operation of the Association's expenditure.
|
| 5. |
Provide a written report at each Council meeting on the financial operations of the company and highlight for discussion or approval significant items and/or those failing to conform to the Association's internal standards.
|
| 6. |
Prepare and execute on the Association's behalf all necessary statutory returns related to the Association's financial operations.
|
| Procedural Guidelines: |
|
|
|
1. |
The Committee chairperson shall be a member of Council. The Chairperson shall communicate with committee members to keep them fully informed.
|
| 2. |
The Committee shall adhere to the policy direction of Council.
|
| 3. |
The Committee shall adhere to the rules of the ASAJ and FINA.
|
| 4. |
Advise Council on matters referred to the committee for consideration.
|
| 5. |
Make recommendations to the Council on any matter that concerns the carrying out of the Committees duties.
|
| 6. |
The Committee Chairperson shall submit to the ASAJ Secretary, for filing, a copy of all relevant documents and correspondence.
|
| 7. |
The Committee Chairperson shall submit to the ASAJ Secretary, for filing, a copy of all relevant documents and correspondence.
|
| 8. |
The quorum for Committee meetings shall be three persons.
|
| 9. |
The Committee may, with the consent of Council, co-opt persons to assist in particular projects or programmes.
|
| 10. |
Report to each monthly Council meeting, the progress of the committee's duties.
|
