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1. |
To formulate policy proposals on the Council's finance and to advise the Council and the Standing Committee on all matters which have important financial implications. |
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2. |
To examine the Council's annual estimates of income and expenditure based upon the programmes of activities submitted to the Council by the Training Boards, General Committees, etc. |
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3. |
To prepare a statement of income and expenditure of the Council for preceding financial year and a balance sheet of the Council on the last day of the financial year for Council's approval. |
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4. |
To award non-works tenders within the financial limit prescribed in the Financial Rules (value up to $14,000,000, but unanimous agreement of members of the committee is required for tenders of an amount over $3,000,000). |
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5. |
To examine non-works tenders for submission to the Standing Committee or the Council for approval. |
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6. |
To appoint general consultants at value within the financial limits prescribed in the Financial Rules (value up to $14,000,000). |
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7. |
To approve new or revised fees and charges within the prescribed financial limit in the Financial Rules (up to an estimated annual income of $10,000,000). |
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8. |
To accept donations within the prescribed financial limit in the Financial Rules (up to $10,000,000). |
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9. |
To advise the Council on the policies, strategies and criteria for allocation of Foundation funds. |
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10. |
To determine and approve use of the funds under the Foundation in accordance with policies, strategies and criteria as set out by the Finance Committee. |
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11. |
To provide annual report on Foundation funding and utilisation. |
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12. |
To approve write-off of losses. |
| 13. | To set up any sub-committees it considers necessary. |