Finance and Risk
Grant Norman (Chair/Finance Manager)
Sam Abishara (SRASA President)
Phil Sinnott (Ex Officio)
Terms of Reference: Squash SA Committees
Finance and Risk Advisory Committee
Appointed by the SRASA Board annually for a term of one year; this can be renewed at the discretion of a unanimous decision of the Board.
Minimum 4 members (including President SRASA)
At least one Committee member should have accounting qualifications and experience in financial control. It is desired that other members have financial planning and/or commercial background.
Meetings will be held once every calendar month. A quorum for any meeting shall be two members, one of whom is the President SRASA. Only members of the Committee have the right to attend meetings unless invited by the President SRASA or General Manager. A Minute Secretary will be appointed at the beginning of each calendar year. It is the responsibility of the Minute Secretary to record the minutes of each meeting, and distribute minutes to the Finance and Risk Advisory Committee and the Board. The minute secretary can organise a proxy from available members if unable to attend a meeting.
The Finance and Risk Advisory Committee is responsible for providing a financial management framework and financial guidance to the SRASA Board of Directors, to ensure financial prudence and efficiency in all areas of operation and management of Squash SA, The Southern, and any another financial interests operated by Squash SA.
The Finance and Risk Advisory Committee reports bi-monthly to the Board on: finance, risk matters, objectives and targets, as detailed in the strategic plan. This report can be an oral report given by the President SRASA in conjunction with minutes of the Finance and Risk Advisory Committee, unless requested otherwise by the Board or the Finance and Risk Advisory Committee.
1. Analyse monthly financial performance against budget.
2. Provide advice to the Board on future planning initiatives such as:
a. Draft Annual Budget as endorsed by the Board
b. Commercial Development proposed by the Board
c. Feasibility Studies developed by other committees or the Board
d. End of Year Accounts
e. Capital Expenditure
f. Investment Opportunities
g. Forward Planning
3. Responsible for the Squash SA Development Foundation in accordance with the Squash Development Foundation Constitution.
4. Provide input to Squash SA planning workshops and Squash SA Strategic and Operational Plans.
5. Provide support to the Board in the development and review of appropriate polices.
6. Ensure compliance with appropriate financial standards and legislation.
7. Identify, assess, manage and monitor financial and non-financial risks.
8. Review external audit findings.
9. Provide the Board with copies of the Finance and Risk Advisory Committee Minutes.
10. Provide a report for the Squash SA Annual Report.
11. Perform other oversight functions and consider other topics as requested by the Board.