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SHOULD TRUSTEES’ MEETING MINUTES RECORD KEY FINANCIAL DECISIONS?
A key means of ensuring the protection of the resources and assets of the institute is to be very disciplined about keeping meaningful minutes of the meetings of the charity trustees. Such minutes also serve to protect the charity trustees and provide essential future reference.
Below is an aide-memoire of the issues that should be referred to in the minutes of meetings of the religious institute charity’s trustees, all of which have a nancial implication – either directly or indirectly:
Items to be included in charity minutes
Property transactions i.e. purchases and sales
Property leases and new rental agreements
Authorisation of major expenditure on a property – e.g. Refurbishment, major repair work, etc.
Approval of the annual accounts and approval of budgets
Risk management considerations including the annual review of the
charity’s risk register
Meetings with investment managers
Meetings with bankers
Major purchase of new equipment e.g. large domestic items, computer equipment, etc.
Consideration and approval/rejection of a request to transfer monies to the institute’s generalate or other grovinces or overseas missions together with details of the terms of any such payments and how the use of the monies is to be monitored
Authorisation of other material donations or grants to UK charities
Changes to banking arrangements including changes to bank mandates
Legal issues arising
Members leaving the institute
Employment issues including disputes
64 Chapter 4
