Finance Sub-committee
Terms of reference
Sub-committee purpose
Sub-committees should operate in the best interests of all members of the Highland Cattle Society wherever they are situated, in the UK and beyond.
Budget preparation and monitoring to ensure proper financial control of the Society
Preparation of financial outturn material, with previous year comparisons and analysis of variations from current year budget projections, for each Trustee Board meeting, AMM and other event as requested by the Trustee Board
Preparation of end of year figures for annual accounts and independent review, and timely submission of accounts to OSCR
Scrutiny of HCS income and outgoings to enable proactive identification of opportunities for growth and reduction in inefficiencies
Membership
The initial members of this sub-committee are Sir James Paice, Hugh Saggers, Brian Dalby and Ann Chinner. It will be chaired by Trustee and Treasurer Sir James Paice.
The sub-committee must always have at least one member who is a Trustee of the Highland Cattle Society and will not normally have more than four members in total. The sub-committee, with approval from the Trustee Board, may co-opt members from outwith the Highland Cattle Society who bring specialist skills or experience that the sub-committee does not otherwise have available.
Accountability
All sub-committees under the Highland Cattle Society SCIO may be set up and disbanded by the Trustee Board. This sub-committee must regularly and promptly circulate the minutes of its meetings to all Trustees and refer its recommendations, with supporting facts and analysis, promptly to the Trustee Board for decisions. No decision of any sub-committee shall bind the Board.
Meetings
Meetings will be called as and when the Chair decides but the sub-committee must convene at least four times a year, physically or virtually, with due regard to Society costs.
The sub-committee will use the Highland Cattle Society Outlook email only for its business to ensure confidentiality.
April 2024