According to the statutes approved by Parliament in 2020, the Finance and Resources Committee shall be responsible for:

(1) oversight of the management of the Inn’s finances;

(2) advising Parliament and the Executive Committee on matters affecting the finances of the Inn;

(3) preparation and approval of the Inn’s annual budget;

(4) preparation, approval and review of the Inn’s medium term financial projections;

(5) preparation of the Inn’s financial statements and liaison with the appointed external auditors;

(6) approval and review of the Inn’s investment policy and monitoring the performance of its investments;

(7) approval and review of the Inn’s staff remuneration policies and practices;

(8) oversight of the management of the catering services provided by the Inn;

(9) oversight of the management of commercial events within the Inn including filming, merchandising and other commercial activities and the development of such activities;

(10) oversight of the management of the Inn’s Information Technology resources and the development of such resources;

(11) monitoring of the Inn’s asset register;

(12) monitoring and review of the Inn’s arrangements for business continuity management;

(13) oversight of the management of the Inn’s records;

(14) oversight of the Inn’s compliance with data protection legislation;

(15) oversight of the risk register so far as it relates to the responsibilities of the Committee;

(16) oversight of the Inn’s insurance arrangements; and

(17) liaison with the trustees of the Middle Temple Pension & Assurance Scheme and the Middle Temple Trust Funds.

The Committee will submit a written report to the Executive Committee and to Parliament on its activities each year.