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Advisory Group on Finance (AGF)
Terms of Reference and Charges
Members: Five members plus the Chair. Additionally, one Executive Committee (EC) ‘liaison’ member and one Standards Committee (SC) "liaison" member and the IFOMPT Executive Director as ‘ad hoc’ members. Members are nominated by MO’s and appointed by the EC. Chairperson appointed by the EC after taking into consideration recommendations from the elected members of the AGF.
Term & Term Limits: Three-year terms with three-term limits.
Members of this group must have knowledge of the IFOMPT Constitution and experience with financial matters. Members must belong to a MO or RIG of IFOMPT but do not necessarily have to be the MO delegate.
Current Members: Amy Fagan (Chair), Nathan Hutting, Rik Kranenburg, Andrei Gheorghiu, Paolo Sanzo (EC Liaison), Ronel Jordaan (SC Liaison), Ingrid du Toit (Office).
Meetings: As required to fulfill the charges detailed below. Meetings conducted via ‘Go To Meeting’ or similar. Additionally, face-to-face meetings in association with meetings of IFOMPT, whenever possible.
Purpose: The purpose of the Advisory Group on Finance(AGF) is to provide the EC (in the form of a written report) with recommendations regarding the IFOMPT income, expenditures, IFOMPT investments, and identification and review of potential revenue opportunities. The AGF will address specific ‘charges’ within a designated time frame as determined by the Executive. Reports from the AGF should outline the work undertaken by the group and provide the EC with prioritised recommendations with accompanying detail that will enable EC to make decisions regarding implementation of such recommendations.
1. Investigate alternative income streams for IFOMPT and provide EC with short and long term strategies to consider.
2. Review subscription structure of IFOMPT make recommendations for alternative structure and/or fees.
3. Review discretionary spending of IFOMPT and make recommendations for any appropriate cost-saving changes.
Conflict of Interest: A conflict of interest can arise when conditions or circumstances preclude or interfere with an individual’s capacity to make the objective, detached decisions required of EC Advisory Group members. Members shall excuse themselves from such participation in any case where a conflict of interest arises, where a potential conflict of interest may arise, or where there may be a perceived appearance of conflict.
IFOMPT October 2016