Terms of Reference for Finance Sub-Committee

Purpose of the Group

The sole purpose of the Amach! LGBT Galway Finance Sub-Committee is the management of finances for Amach! LGBT Galway Ltd. This includes the entire finances of the company and sub-groups of the company. It is the responsibility of the Finance Sub-Committee to prepare and present a set of fully Audited accounts to the company registrations office.

Composition of the Group

The Amach! LGBT Galway Finance Sub-Committee may only consist of members from the board of directors. This would consist of the Company Treasurer and Two other members from the Board of Directors. The member ship of the sub-committee would change on a yearly basis following the AGM of the company. New Members to the sub-Committee will be elected from the board of Directors.

Organisation of the group

The Group will meet as often as is required to carry out the tasks required in managing the funds of Amach! LGBT Galway LTD. Meetings will be called by the Treasurer who will also act as the Chairperson of the Finance Sub-Committee. Each meeting of the Finance Sub-Committee will be minuted fully by either of the two sitting board members on the sub-committee. The main facilitator of the sub-committee will be the Amach! LGBT Galway board of Directors.

Power of the Group

The group has the power to manage the day to day finances of the company. It is required to bring back to the board of directors proposals and recommendations as it sees fit in the best interests of the company. The finance sub-committee has the power to make all decisions on the day to days finances of Amach! LGBT Galway Ltd.

Communication

The group will report back to the Board of Directors at each board meeting and a copy of the finance sub-committee Minutes will be presented to the company Secretary for filing at the company office. A quarterly financial report will be presented to the Board of Directors and an annual set of audited accounts will also be presented as stated above.

Time Scale

The Amach! LGBT Galway Finance Sub-Committee undertakes to have the finances of the company in order at all times and abide by the relevant time-scales as required by the Company and its legal requirements. The Finance Sub-Committee must have a fully audited set of accounts prepared and signed off by the Board of Directors prior to the annual Company AGM.

Review and Evaluation

A review of the terms of reference will be a priority for the project if the nature of the work of the group changes in any way. Should this happen – a new terms of reference will be drawn up and agreed by the board of directors.

This Policy was discussed and ratified by the AMACH! LGBT Galway LTD. Board of directors

Signed:

Date:               April 2010