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Financial Governance


 

 

Scottish Schools’ FA - Financial Governance
 
General
The Association’s Constitution makes the following provisions:
 
 
Extract from Section 11
 
‘The President’s Committee shall be responsible for the conduct of Association business, subject to the direction of Council, including:
 
  • ongoing governance of the Association’s business
  • Association finances, according to the terms of section 12 below
  • the power to call Special General Meetings and Council Meetings as provided for in this document
  • appeals & disciplinary matters ‘
 
 
‘12. Association Funds
 
The Treasurer shall be responsible to the President’s Committee for administering the funds of the Association. All membership fees and subscriptions, income from matches and other revenue shall be forwarded to him. He shall keep a detailed account of all the financial transactions of the Association and shall submit a Financial Statement to the Council and to the President’s Committee thereof when required. All accounts and claims must be authorised by the President’s Committee before payment is made.
 
The Treasurer shall pay to the members of the Secretariat an agreed sum as a petty cash float which they shall administer to defray the routine expenses incurred during the operation of their various remits.
 
On application, special grants may be paid to sub-committees or recognised bodies for particular purposes as authorised by the Council or the President’s Committee thereof.
 
The Treasurer of the Association shall close the accounts of the Association annually on the last day of May. Thereafter he shall prepare a Financial Statement which, after being submitted to the President’s Committee and duly audited, shall be submitted for approval to the Annual General Meeting of the Association.’
 
 
 
Financial governance operates within this overall framework and is also subject to the specific elements set out below.
 
 
Purchasing
 
The policy of the Scottish Schools’ FA is to obtain the best value for the materials, goods, and services that it purchases. It will seek to maintain the highest ethical standards in dealing with its suppliers and will seek to source goods and services from ethically managed providers. The concept of value includes price, quality and service.
 
Purchasing is subject to the approval of the President’s Committee but is, for practical purposes, delegated to the Operations Committee. The Operations Committee will have the authority to approve individual purchases up to the value of £5,000, thereby enabling effective management of administrative purchases and purchases relating to international teams. Any purchase greater than £5,000 must be approved by the President’s Committee, either at a meeting or by e-mail communication.
 
 
 
Insurance
 
The Association will maintain two types of insurance policy:
 
  • a policy that covers Association equipment and goods, and Office Bearers in the conduct of Association business
  • a policy that covers medical costs for any player injures while representing the Association.
 
It will be the responsibility of the Association’s Treasurer to obtain the most appropriate and competitive quotations available and for the President’s Committee to approve the choice of insurer.
 
 
 
Contingency/Risk
 
The Association generates income principally from affiliation and entry fees, performance related payments and sponsorship. It recognises the risk that any, or all, of these sources of income may be interrupted or ceased. This loss of income would undoubtedly compromise the Association’s activities and the risk of that occurring is recognised.
 
The risk relates entirely to maintenance of Association activities in organising competitions and international teams, and in equipping its administrative and governance processes which are carried out entirely by volunteers.
 
This risk will be managed in two key ways:
 
  • by the President’s Committee regularly reviewing Association finances according to its constitutional responsibility
  • by maintaining reserve funds at a level that would enable the Association to continue its activities for a period of one year, based on receiving no income at all during that year.
 
November 2016
 
                                                                                            
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