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The Royal College of Psychiatrists Improving the lives of people with mental illness

Finance Management Committee

The Finance Management Committee considers the College’s financial policy and makes recommendations/reports to the Board of Trustees.

What is the committee responsible for?

The committee’s main role is to:

 

  • monitor the current and longer term financial situation of the College by regular review of relevant management information.
  • scrutinise all annual budgets.
  • scrutinise Research grant budgets when and if funding has been approved rather than at the point of application.
  • scrutinise in appropriate detail the financial implications of any new project, initiative, service or contract.
  • review and make recommendations about travel and subsistence rates, staff cost of living increases, payments to users and carers and membership subscription & registration fees.
  • develop further, monitor and analyse fund-raising activities in conjunction with relevant groups.
  • monitor income from all sources and to promote income generation.
  • monitor risk management aspects of new and ongoing activities with particular regard to potential financial risks.

 

Who is on the committee?

Chair (Honorary Treasurer)

Dr Jan Falkowski

Divisions representative

Dr Suresh Babu

Faculties representative

Dr Lenny Cornwall

Elected members’ representative

Prof Keith Lloyd

Lay Trustee

Malcolm Basing

Chief Executive

Paul Rees

Director of Finance and Operations

 

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