The Committee shall be custodian of the Council financial resources, the committee shall operate in terms of the Delegated and Referred Terms of Reference out listed here:
The committee shall meet at least once a month unless the Minister directs otherwise and shall have powers to decide on the following:
- Regulate the overall financial affairs of the Council and its Committees, in accordance with the operational instructions or by-laws, if any, of the Council.
- Regulate the collection of all income and the expenditure of all monies authorised in the confirmed estimates or supplementary estimates, of the Council by checking the financial statements.
- Check and submit schedule of payments made by or on behalf of our Council; and any committee thereof, at least once every month or as Council may direct, to an ordinary meeting of Council.
- Prepare estimates of income and expenditure for the Council.
- Consolidate estimates of income and expenditure for the Council.
- Ensure that the estimates of expenditure specify all monies to be raised to meet the expenditure concerned and proposed expenditure on and service carried out by any committee.
- Ensure that the estimates of expenditure concerned and proposed expenditure ion and service carried out by any committees.
- Presents the estimates to the Council for approval.
- Ensure that all Council assets are ensured.
- Consideration and recommendation of contracts.
- Examination and recommendation of contracts.
- Considers proposals on increases of contracts.
- Considers proposals on increases of rates, fees, charges, levies and borrowings by Council.
- Considers the financing and viability of joint ventures.
- Subscriptions by council.
- Policies on finances of council.