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Confidential

The Finance Committee is made up of the following Officers and members:

Chairman
Anthony Barrett-Jolley	Air Contractors
Members
Ed Bewley	CAA
Steve Hull	British Airways
Rich Jones	Chief Executive
Peter Richards	RAeS
Tony Wride	Monarch

 

Terms of Reference

1. Policy

There shall be a Finance Committee, established under the Constitution that shall be responsible for the financial control of the UKFSC.

2. Membership

The Finance Committee is chaired by the Hon. Treasurer.
Membership shall consist of the following members:
Chairman
Vice Chairman
Hon. Treasurer
External Affairs Officer
Chief Executive
CAA representative

Note: Members of this Committee should be those officers and members most involved in the generation and expenditure of the finances. The numbers have been specifically kept small to ensure that the meetings are not protracted.

3. The Role of the Finance Committee

The following terms of reference are set out to give the Finance Committee broad guidance for the execution of their duties.
Financial Management
The Finance Committee is to develop sound financial practices and policies that will protect the continued ability of the UKFSC to serve its members in both the short and long term.
The Finance Committee is to present to the UKFSC for approval each year a budget for the following year. The Chief Executive will be responsible for delivering the services within the funds put at his/her disposal.
All income and expenditure of the UKFSC will be managed and accounted for by the staff of the Chief Executive. The Chief Executive is accountable for the custody of the funds and resources of the UKFSC.
The Finance Committee is to report proceedings to members at the UKFSC meeting immediately following each Finance Committee meeting.

4. Meetings and Agenda

Dates
The Finance Committee normally meets quarterly. Meeting dates are to be published at least a year in advance.

Agenda
The Agenda for each Finance Committee meeting will be published by the Chief Executive on behalf of the Hon. Treasurer.

Proposed Agenda
Apologies for absence
Approval of the RODS of the last meeting
Matters arising
Review of income and expenditure for the Quarter and year to date
Any other business (Pre-notified)

Note: At the Finance Committee meeting prior to the AGM the Finance Committee will need to:Discuss and approve the budget for the next financial year, as this is to be distributed with the Agenda for the AGM.
Discuss and approve salary increases for the Chief Executive and Staff.

Quorum
A quorum consists of the Hon. Treasurer, the Chief Executive plus 2 other officers.

Record of Decisions
The Chief Executive is to record and publish the Record of Decisions as soon as possible after each Finance Committee meeting.