As it is not always practicable for the whole governing body to be involved in all its financial work, many governing bodies will set up a finance committee to assist with school financial matters, which must report to the governing body. In order for the finance committee to be effective, it is usual for the governing body to delegate powers to the committee to spend some of the delegated budget and/or to arrange for funding to be switched between services and headings within agreed limits. Using the finance committee in this way will help reduce the number of decisions requiring formal ratification by the full governing body, which may only meet once per term.
Where can I get more information about Governors and Finance?
Use the “following link”: http://www.governors.wales/publications/2014/02/20/governor-guide-governors-and-finance/ to download the Governors Wales Governor Guide on Governors and Finance.