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Key responsibilities:

To oversee all financial aspects of the charity, on behalf of the board of trustees, to ensure its short and long-term viability

To assist the chair, other honorary officers and the chief executive in ensuring that the board of trustees fulfils its duties and responsibilities for the proper financial governance of the charity.

Duties and tasks to fulfil the key responsibilities:

In partnership with the Chief Executive (Head of Finance and members of the Finance and General Purposes Sub-Group committee):

  • To ensure that the Youth Work Ireland operates within the financial guidelines set out in current legislation (Company Law), by the Charity Regulator, in Youth Work Ireland’s constitution and by the board.
  • To ensure that the charity has adequate financial and internal audit controls and that these are monitored and reviewed regularly
  • To identify and bring to the attention of the board, any financial risks facing the charity
  • To ensure that Youth Work Ireland’s financial resources are sufficient to meet the charity’s current and future needs, and to advise the board on the board’s reserves policy, and to ensure that this policy is reviewed and monitored regularly
  • To scrutinise the proposed annual budget, and advise and guide the board accordingly
  • To scrutinise management accounts, performance against budget and to advise the board accordingly
  • To scrutinise and evaluate regularly the charity’s cash flow position, and to inform the board of any concerns
  • To ensure that funding received for specific purposes is separately accounted for and spent for the purposes for which it was given
  • To review longer term forecasts of capital resources and of income and expenditure, and to review and monitor financial trends within the charity and the sector within which the charity operates
  • To meet the external auditor at least once a year
  • To formally present the accounts to the annual general meeting drawing to members’ attention all relevant matters, and to respond to questions from the floor
  • To chair or be a member of appropriate board committees such as the Finance and General Purposed sub committees, Premises committee etc.

To assist the Chair, other Officers and the Chief Executive:

  • To ensuring that the board of trustees fulfils its duties and responsibilities for the proper financial governance of the charity
  • To ensuring that the charity has satisfactory control systems and procedures for holding in trust for the beneficiaries all monies, properties and other assets and ensure that monies are invested to the maximum benefit of the charity, within the constraints of the law and ethical and other policies laid down by the board
  • To ensuring that the income and property of the Youth Work Ireland is applied for the purposes set out in the governing document and for no other purpose, and with complete fairness between persons who are properly qualified to benefit
  • To keeping the board informed of its financial duties and responsibilities
  • Advising the board on the financial implications and operational risks arising from board decisions, especially the board’s strategic and policy decisions
  • Advising the board on the financial strategy proposed by the chief executive and to review and monitor the financial strategy on behalf of the board
  • Advising, in consultation with the Chair, the Chief Executive on the level, quantity and frequency of financial information and reporting required by the board to allow the board to fulfil its legal and statutory responsibilities
  • Working with the Chief Executive and Head of Finance to ensure that financial information is both accurate and presented in such a way that facilitates good financial governance
  • Ensuring that intangible assets such as organisational knowledge and expertise, intellectual property, the charity’s good name and reputation etc. are properly valued, utilised and safeguarded.
  • To fully understand the differing roles of Treasurer and Head of finance. There is a clear difference in the governance, advisory and strategic role of the Treasurer against the operational and Strategic role of the Head of Finance.
  • To understand and be familiar with the rules for Charities under SORP and the impact on reserves and Funds of the categories of funding ie Restricted and Unrestricted and designated and undesignated.
  • To be aware of the various projects currently being undertaken by Youth Work Ireland and what funds relate to Youth Work Ireland and what funds are for the running of the project.
  • To fully get to terms with the meaning of deferred income and the release of funds to income.
  • To ensure that Youth Work Ireland has sufficient reserves to meet its Reserve Policy and advise the Board on any deficiencies.
  • To be part of the panel in recruiting members of the Financial Team
  • To chair both the F&GP meetings and also Premises Development Committee