The new Council of Management met on 11 July and welcomed its newly elected member Diane Hockley. Council elected Ian Walker for a second year as its Chair. Richard Chapman was elected as Council’s new vice Chair and Jane Riley was elected for a second year as the Association’s Honorary Treasurer. Council also confirmed the membership of the following Committees:
Finance and Strategic Policy Committee – Gavin Barlow, Jayne Burton, June Massey, Mike Harnor, Stephen Timewell, Ian Walker, Richard Chapman and Jane Riley.
Research Committee – Jon Barnes, Peter Clough, Jim Morrow and James Sheward.
Corporate Governance Committee - Beryl Sharlot, Ian Walker, June Massey, Jayne Burton and Jane Riley.
Members considered the financial performance of the charity in the first six months of 2017. They were pleased to note that this was within tolerance levels and that no adjustments were required to plans for the remainder of the year.
Council reviewed the outcomes of its performance self-appraisal and confirmed new objectives for itself for the next 12 months. These include looking to focus more on strategic issues and ensuring Council is innovative in its thinking and actions.
Council approved recommendations from its Finance and Strategic Policy Committee to amend its investment procedures and policy. The significant change was to adopt a new policy on financial reserves. The upper threshold level for the reserves was changed from 18 months to 12 months. The lower threshold level for the reserves was changed from 9 months to 8 months. The basis for calculating the reserves was changed from using the audited gross unrestricted expenditure from the previous year to using the gross unrestricted forecast income for the following year as represented in the approved revenue budget.
Amongst other decisions, Ms Malisa Pierri and Mr Craig Williams were appointed as new members of the NAC Wales/CYC Cymru. Council also agreed to four recommendations that will review the way it assesses and manages corporate risk.
Jayne Burton, Council’s diversity champion, presented a report at the conclusion of her first year in the role. Council agreed that the role should continue and that Jayne Burton should continue to serve for a further 12 months.
The next meeting of the Council of Management will be on 3 October 2017.