Diocesan Financial Advisory Task Force

TERMS OF REFERENCE

In 2000, the Standing Committee of the General Synod established the Diocesan Financial Advisory Group (DFAG).  In 2014, the Standing Committee closed the DFAG and established the Diocesan Financial Advisory Task Force (DFATF).  The purpose of the DFATF is to advise the Standing Committee of the General Synod on financial matters relating to, within and across the Dioceses of the Church, and to assist in identifying and addressing any potential or actual financial difficulties which may arise from time to time.

The Task Force has the following terms of reference:

1. to advise the Dioceses and Standing Committee on relevant developments in corporate standards on financial matters including governance, financial reporting and financial risk management;
2. to monitor the financial health of the Dioceses, including through the regular review of financial statements of Dioceses and their significant related entities;
3. to determine and recommend what additional information should be provided by Dioceses to enable the Task Force to fulfil its role, including the comparison of performance indicators to provide for an element of early warning of potential financial difficulties within Dioceses;
4. to provide assistance at the request of Dioceses on financial, governance and risk management matters and make recommendations where appropriate, including in relation to the containment or remediation of potential difficulties;
5. to recommend persons who could assist Dioceses in the management of financial matters in situations where the Task Force is unable to assist;
6. to do such other things as the Standing Committee might request from time to time, which could include assisting in the formation of an Independent Oversight committee where a Diocese is experiencing serious financial stress;
7.  to support the Dioceses in dealing with regulators such as the Australian Securities and Investments Commission, the Australian Prudential Regulation Authority and the Australian Charities and Not-for-profits Commission;
8. to be represented at, and report to, the Standing Committee meetings at least half yearly on financial trends in the Dioceses and any other relevant matters within its terms of reference; and
9. to identify from time to time, in cooperation with the General Secretary, persons who could join and/or assist the Task Force in its work.

MEMBERSHIP

Members of the DFATF have a broad range of skills and experience from working in an executive capacity in the accounting, auditing, financial, risk and funds management professions.  They also have a broad understanding of the Anglican Church through their active participation in parish and Diocesan activities.

The members are:

Mr Michael Codling – Chair
Mr Geoff Girvan
Ms Susan Foley
Mr Keith Stephens
Mr Stuart Neilson
Ms Evelyn Horton
Mr Bruce Harris
Ms Jenny Dawson
The Rev’d John Barnes
The Rev’d Rod McArdle

REPORTS TO GENERAL SYNOD

Diocesan Financial Advisory Task Force report to General Synod 2022
Diocesan Financial Advisory Task Force report to General Synod 2017