Quaker Finance and Property Committee
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Accountable to Britain Yearly Meeting Trustees (BYMT), as a committee established by the Trustees, Finance & Property Committee takes delegated responsibility for the effective stewardship of the finance and property for Britain Yearly Meeting’s central purposes.
The Committee acts on behalf of the BYMT and is accountable to them for:
- setting financial policies and regulations and overseeing their implementation
- examining the annual draft budget and multi year financial projections and making recommendations to BYMT
- monitoring of budgeted income and expenditure and keeping BYMT informed
- overseeing the format, preparation and presentation of the annual accounts
- overseeing the use of unrestricted and designated funds
- acceptance of restricted and endowment funds by way of bequests, capital gifts and other restricted monies given to the Religious Society of Friends in Britain, ensuring that their application is in accordance with the wishes of the donor
- overseeing the financial implications of BYMT policies and bringing to the attention of BYMT any financial issue or process which needs wider consideration
- identifying and agreeing with BYMT, priorities for developing policies on finance and property
- financial resource planning by examining longer term trends, preparing forecasts and guidelines
- recommending to BYMT the appointment of external auditors and receiving their report, submitting audited annual accounts together with a financial report to BYMT
- arrangements for the management of investments and funds in accordance with legal constraints and Friends’ testimonies and agreed investment policy
- arrangements for the management of both functional and investment properties within the agreed policies
- ensuring compliance with regulatory requirements and BYM Trustees’ policy on Health & Safety in the areas in which the committee and its subcommittees have oversight
- recommending to BYM Trustees the level of grants to be made to other Quaker bodies, as set out in the attached Schedule.