According to the statutes approved by Parliament in October 2013, the Finance and Resources Committee shall be responsible for:
(1) oversight of the management of the Inn’s finances;
(2) approval of the Inn’s investment policy and the monitoring of the performance of its investments;
(3) advising Parliament and the Executive Committee on matters affecting the finances of the Inn;
(4) preparation and approval of the Inn’s annual budget;
(5) preparation of the Inn’s annual accounts and liason with the Inn’s external auditors;
(6) monitoring of the Inn’s asset register;
(7) approval and development of the Inn’s staff remuneration policies and practices;
(8) approval of the Inn’s strategy and budget for Information Technology;
(9) approval of the Inn’s strategy and budget for the Library and the Archive; and
(10) liaison with the trustees of the Inn’s Pension Fund and Charitable Trust Funds.
The Committee shall appoint the following sub-committees:
(1) The Investment Sub-Committee which shall be responsible for approval of the Inn’s investment policy and the monitoring of the performance of its investments;
and
(2) the Staff Remuneration Sub-Committee which shall be responsible for approval and development of the Inn’s staff remuneration policies and practices.
The Committee will submit a written report to the Executive Committee and to Parliament on its activities each year.