New guidance on financial management for housing association committee members

Screenshot - financial management guidanceThe Glasgow and West of Scotland Forum of Housing Associations (GWSF) and SHARE have joined forces to produce practical guidance on financial management for housing association committee members.

The guidance has been produced by Gary Dalziel, formerly of Linstone Housing Association and now chief executive of Elderpark Housing Association, based on training Gary has been doing for SHARE for many years. It summarises the most important aspects of the management committee’s role in terms of financial management, the main financial risks for associations, key financial documents and terminology, and a ‘top ten’ questions to ask.

GWSF chair Helen Moore said: “It would have been easy for us to have produced a long and detailed piece of guidance on financial management, but our aim here has been to focus on the key things committee members need to know to carry out their responsibilities, and to produce the material in an accessible, attractive format.

“Understanding the main areas of financial management means committee members are more likely to be confident in challenging fellow committee members and staff where something might seem unclear.”

Alan Ferguson, SHARE’s director, said: “Finance is always one of those areas that some committee members have difficulty with. This guidance will help all committee members get on top of financial management and help them ask the right questions and ensure good governance.”

Copies of the new guidance are being sent to all GWSF and SHARE members.