COMMITTEE ON FINANCE, BUDGET, AND APPROPRIATION

The Committee on Finance, Budget, and Appropriation is tasked with overseeing the financial health of the organization, ensuring that resources are allocated effectively and in line with strategic priorities. Its main role is to manage the preparation, review, and approval of budgets, ensuring that financial resources are used responsibly and transparently.

The Committee plays a central role in creating and monitoring the annual budget. It works with various departments to assess their financial needs, prioritize spending, and ensure that all expenditures align with the organization’s overall goals. The Committee ensures that the budget reflects both short-term operational needs and long-term financial sustainability, balancing income and expenditure to maintain fiscal responsibility.

In addition to budget preparation, the Committee is responsible for reviewing financial reports and monitoring the organization’s financial performance. It ensures that funds are being used efficiently and that any variances from the budget are addressed. The Committee also examines financial forecasts, making recommendations for adjustments based on changing circumstances or new opportunities.

The Committee also oversees the appropriation of funds, ensuring that resources are allocated in a manner that is fair, efficient, and aligned with organizational priorities. This includes reviewing requests for financial support from various departments, projects, or initiatives and making decisions on the most effective use of available funds.

Another critical function of the Committee is to ensure compliance with relevant financial regulations and standards. It works closely with auditors and other oversight bodies to ensure that financial practices adhere to legal requirements and industry standards, maintaining transparency and accountability in all financial matters.