TERMS OF REFERENCE (TOR) FOR THE FINANCE & RESOURCES COMMITTEE (FRC)
The Committee shall consist of not less than six governors including the Headteacher and members of management nominated by the Headteacher and approved by the FGB. This shall include the Finance/Business Manager as a minimum. The Clerk shall also be in attendance.
All other Governors and are welcome to attend the FRC as well as any other staff invited by the Headteacher
The quorum shall be four governors including the Head Teacher but with a majority of Foundation Governors.
The Committee shall meet at least once each term in accordance with the Meeting Schedule.
At the first meeting every academic year a Chair shall be elected.
Minutes and action points shall be taken by the Clerk and submitted within seven days to the Committee Chair for review. Minutes will be ratified at the next following FGB.
TERMS OF REFERENCE
To ensure that the Catholicity of the school is maintained.
To provide decisions and guidance in matters relating to finance, the buildings, estate and other assets and to all staffing and other resource matters.
To review any relevant Financial Policy and ensure appropriate compliance.
With the support of the Finance Manager, monitor financial statements on a regular basis at least once each term and to comment on budget performance.
With the support of the Finance Manager ensure that non-public funds are audited and reported to the Governing Body.
To plan and review fund raising initiatives.
To plan and ensure that the Diocesan Levy is settled appropriately
Liaise with the Friends of St George, as required, with their fund raising efforts.
To delegate to the Headteadcher the authority for appropriate expenditure levels consistent with the budget requirements.
To receive and where appropriate respond to periodic reports on the official school funds as received from the LA or other competent authority.
To undertake any other adhoc tasks as requested by the Governing Body.
To plan and monitor the Diocesan Levy collections.
To consider the Risk Assessment for the school.
To review the lettings charges and resultant income as well as the on-going profitability and ensure that all related costs are being duly considered within each Budget year.
To have appropriate input through the PWG in the review of Policies relating to staff and personnel management and to monitor their effectiveness.
To agree with the Headteacher a staffing structure for the school which meets the aims of the school’s Development Plan. To review the structure as and when appropriate.
To have input and membership of the Pay Committee and submit recommendations for ratification by the FGB.
The agenda items identified by the SG shall be the basis of each Meeting. The agenda and supporting papers should be sent electronically to Governors 7 days prior to the Meeting.