FRM(21)27
This report sets out below the current terms of reference for FERM Committee.
Members of FERM Committee are invited to review these terms of reference and either confirm them or recommend further changes.
In particular Minute 21.52.03 of the Statutory Annual Meeting of the Council on 5 May 2021 records that it has been suggested that a change in the wording of the terms of reference relating to budget supervision should be considered.
Any recommendations will be referred back to Full Council.
William Grosvenor
Clerk and Executive Officer to the Council
7 July 2021
Finance, Employment and Risk Management Committee (incorporating revisions up to July 2020)
(D) PURPOSE
- To be responsible for the employment of council staff
- To provide contracts and other such documents as required by employment legislation
- To provide a staff appraisal system
- To agree salary levels for council employees
- To provide a Disciplinary Panel consisting of three members of the Finance, Employment and Risk Management Committee
- To provide an Appeals Panel consisting of one member from the Finance, Employment and Risk Management Committee not on the Disciplinary Committee and two other councillors who are not members of the Finance, Employment and Risk Management Committee
- Oversight of the internal financial controls including Internal Audit arrangements, including the appointment of the Internal Auditor
- Preparation of the budget for approval by full council
- Provision of financial information to the full council
- To consider or review the banking arrangements in conjunction with the RFO and make recommendations for the approval of Full Council
- To enter into and review contracts for the provision of services to the council
- To enter into and review contracts for the provision of insurance services to the council
- To oversee the provision of council accommodation
- To make recommendations of expenditure from reserves
- To oversee the risk management of all council operations
- Raising of funds
- To consider all aspects of divestment/transformation
- Strategic management of the Council’s budgets
- To have oversight of financial aspects of new projects
- To consider applications for grants and to recommend allocations to full council
- To have oversight of the Council’s website and all communication channels
(E) Composition
Minimum of five Members, maximum of nine
(F) Meeting frequency
Six times a year
