Finance Role Remits: Difference between revisions

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This document was adopted by the Board at their meeting of 27th August 2014.
This document was adopted by the Board at their meeting of 27th August 2014, and amended in 2026 with adoption of new governance model, agreed by the Board at their meeting of 2nd April 2026.




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To oversee all financial aspects of company strategy and responsible for the flow of financial information to the Board and, where necessary, external parties such as investors or financial institutions.  The Finance Director will be appointed by the Board.
To oversee all financial aspects of company strategy and responsible for the flow of financial information to the Board and, where necessary, external parties such as investors or financial institutions.  The Finance Director will be appointed by the Board.
====Primary Focus (additional section added May 2026)====
Financial Stewardship and Risk
• Key Responsibilities: Overseeing the preparation of annual accounts and the annual budget.
o Monitoring cash flow and reserves to ensure solvency.
o Reporting financial health to the Board quarterly.
o Jointly approving unbudgeted expenditure with the Chairperson.
• Success looks like: Financial stability and the Board having full confidence in the numbers.


====Main Responsibilities====
====Main Responsibilities====
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===Finance Sub Committee===
===Finance and Risk Working Group===
Subcommittee with delegated authority from the Board - [[Finance Sub Committee Remit]].


[[Finance and Risk Working Group]]


===Auditor===
===Auditor===

Latest revision as of 15:18, 5 June 2026

This document was adopted by the Board at their meeting of 27th August 2014, and amended in 2026 with adoption of new governance model, agreed by the Board at their meeting of 2nd April 2026.


TREASURER

1. The Treasurer will be appointed by the Board.

2. The Treasurer will remain in post until there is another person appointed to the role.

3. Directors have a responsibility to appoint a Treasurer as soon as possible once there is an impending or actual vacancy.

4. The Treasurer's role and remit are as described in the Finance Procedures document and subject to the Finance Policy.

5. This role is subject to the Named Role Holder Ending Term of Office Procedure.

FINANCE DIRECTOR

Role

To oversee all financial aspects of company strategy and responsible for the flow of financial information to the Board and, where necessary, external parties such as investors or financial institutions. The Finance Director will be appointed by the Board.

Primary Focus (additional section added May 2026)

Financial Stewardship and Risk • Key Responsibilities: Overseeing the preparation of annual accounts and the annual budget. o Monitoring cash flow and reserves to ensure solvency. o Reporting financial health to the Board quarterly. o Jointly approving unbudgeted expenditure with the Chairperson. • Success looks like: Financial stability and the Board having full confidence in the numbers.

Main Responsibilities

  • 1. Overall control of Freegle Ltd’s accounting function.
  • 2. Financial planning and related ongoing advice for the Board.
  • 3. Providing periodic reports to the Board on the financial plan, including forecasts and variances.
  • 4. Formulating financial targets and budgets in accordance with the strategy determined by the Board.
  • 5. Overall control of all financial transactions and accountancy matters, including audit systems.
  • 6. Corporate finance: managing Freegle Ltd policies regarding capital requirements, debt, taxation, equity and acquisitions, as appropriate.
  • 7. Preparing annual accounts
  • 8. Ensuring that the regulatory requirements of all statutory bodies are met regarding all Freegle Ltd’s financial affairs


Finance and Risk Working Group

Finance and Risk Working Group

Auditor

The Rules#Audit details the requirement for an Auditor.


Contact Details

Contact email address for the Treasurer: Treasurer@ilovefreegle.org(the Financial Director will also have access to this mailbox)

Contact email address for the Finance Director: Finance@ilovefreegle.org (the Chair of the Board will have access to this mailbox)


Relevant links:

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