Finance committee: purpose, membership and agendas

Find out what a finance committee should do, who should be on it and how often it should meet. See examples of terms of reference and meeting minutes.

Last reviewed on 13 January 2022
School types: All · School phases: All
Ref: 3976
Contents
  1. Finance committees aren't a statutory requirement
  2. Know your remit: have clear terms of reference
  3. Make sure you have governors with the right skills
  4. Have regular meetings and update the full board
  5. Agendas and meeting minutes: guidance and examples

This article is based on best-practice guidance as described in:

If you’re on a local governing body (LGB): check your trust’s scheme of delegation first to see if you have any delegated financial responsibilities. This will help you to understand how this article may apply to you.

Finance committees aren't a statutory requirement

If you're in a maintained school, the board can choose whether or not to delegate financial oversight to a committee.

Know your remit: have clear terms