Queensland Consolidated Regulations

HOSPITAL AND HEALTH BOARDS REGULATION 2023 - REG 46

46 Functions of a finance committee

A finance committee established by a Service’s board has the following functions—

(a) advising the board about the matters stated in paragraphs (b) to (g) ;

(b) assessing the Service’s budgets and ensuring the budgets are—

(i) consistent with the organisational objectives of the Service; and

(ii) appropriate having regard to the Service’s funding;

(c) monitoring the Service’s cash flow, having regard to the revenue and expenditure of the Service;

(d) monitoring the financial and operating performance of the Service;

(e) monitoring the adequacy of the Service’s financial systems, having regard to its operational requirements and obligations under the Financial Accountability Act 2009 ;

(f) assessing financial risks or concerns that impact, or may impact, on the financial performance and reporting obligations of the Service, and how the Service is managing the risks or concerns;

Examples of financial risks or concerns for paragraph (f)—

• the accuracy of the valuation of fixed assets

• the adequacy of financial reserves

(g) assessing the Service’s complex or unusual financial transactions;

(h) any other function given to the committee by the Service’s board, if the function is not inconsistent with a function mentioned in paragraph (a) to (g) .

Examples of functions for paragraph (h)—

performance and resource management functions