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Finance Committee's Terms of Reference

Ravensfield Governing Body

Terms of Reference of the Finance Committee

(incorporating the Pay Committee)

Membership To consist of at least 3 Governors, none of whom will have a pecuniary interest in the decisions being made. If pay related matters/decisions are being dealt with employees of the school will be deemed to have a pecuniary interest. One member will act as Chair. The Head Teacher, if a member, cannot be the Clerk to the Committee.
Chair Either Appointed by the GB or Elected by the Committee. The GB can remove the Chair at any time.
Quorum To consist of 3 members (subject to the above conditions).
Meetings At least once a term, or before each full Governing Body meeting, otherwise as required.
Agendas To be circulated to all Governors (reference only those not on the Committee) one week before the meeting by the Chair of the Committee. Accompanying papers to be circulated to members of the Committee only.
Minutes To be circulated to all Governors as soon as possible after the date of the meeting, or with the agenda papers for the next full Governing Body meeting. Minutes to include a brief summary of items discussed and clear reasons for all decisions taken.
Review Membership and terms of reference to be reviewed annually at the Autumn Term Governing Body meeting.
Advice When discussing the salary of other teachers the committee will normally be advised by the Head Teacher.
Pecuniary Interest When the Committee make decisions about the Head Teacher’s salary the Head Teacher will withdraw from the meeting. S/he may be invited to make a presentation to the Committee prior to withdrawal.


The Finance Committee is responsible for recommending (or setting if it has delegated authority from the Governing Body) the school budget.

The Finance Committee is responsible for ensuring the control and monitoring of the school budget and for reviewing, and determining staff pay (if it incorporates the Pay committee)

Specifically, the terms of reference of the Committee are:

Finance Committee Functions

To advise on the financial implications of adopting certain policies.

To make recommendations (or take decisions if it has delegated authority) on all financial matters.

To provide reliable information and make appropriate recommendations (or decisions with delegated powers) to enable the Governing Body to comply with the required financial regulations.

To prepare and recommend (approve with delegated powers) a budget each year.

To monitor regularly and effectively against that budget and report to the GB as required.

To contribute to the School Improvement Plan.

Pay Committee Functions (if this Committee is incorporated)

An annual meeting will be held (staff paid to work at the school or who have a pecuniary interest should not be included in decisions related to this function), the purpose of which will be:

To review the changes in pay and conditions arrangements for all staff.

To receive from the Head Teacher and the Council such recommendations as are appropriately related to this function.

To prepare recommendations, or reports, for the full Governing Body in respect of changes to the school pay policy. In undertaking this responsibility the Pay Committee will consult with the teaching staff, school representatives and secretaries of the recognised teacher associations.

To undertake pay assessment for all staff and prepare their annual pay statements.

To consider (following withdrawal of the head teacher from the meeting), the payment of the Head Teacher in the forthcoming year.

To liaise as necessary with the Council for example in relation to newly appointed staff.

To send a copy of the annual pay statement to each member of staff and the Council for payroll purposes.

To contribute to the School Improvement Plan


  • Ravensfield Primary School
  • Clarendon Street, Dukinfield, Cheshire, SK16 4JG