COMMITTEES

This is generally a standing committee of the board of members that works with the Principal and the financial staff to control and overview the finances of the organization. "The finance committee is entrusted with protecting and renewing the institution’s resources and assisting the board fulfilling its fiduciary responsibilities. Specifically, it performs two primary roles in college and under university governance, Ensures that the resources (human, material, information, and financial) are secured, appropriately allocated and adequately protected.

Functions and responsibilities:

• To assist the board fulfilling its fiduciary responsibility
• To protect the organization from legal challenges and liabilities
• To guard the organization against illegal, unethical, or incompetent activities by fiscal managers
• To protect the organization from actual or apparent conflict of interest
• To act as an advisory panel to the financial operation
• To evaluate both the financial operations and the people in charge of it meticulously
• To be vigilant of illegal, unethical, or incompetent financial dealings engaged in by individuals or groups that the organization deals with, or financial arrangements that may harm the organization
• Participating in the annual audit and carry out meticulous pre audit check
• Evaluating the organizations fiscal operations, and those in charge of it
• Ensuring that the financial elements of the organization are in accordance with its vision, mission, and strategic plan
• Reporting to the board and/or Executive Committee about the financial condition of the organization, and/or any financial irregularities or inefficiencies regularly
• Examine and scrutinize the annual budget of the Institute prepared by the principal and make suggestions, recommendations to the governing body