The Board of Trustees has ultimate responsibility for the financial matters and financial procedures of Warwick Students’ Union. It must accept ultimate responsibility for giving firm strategic direction to the Union, and ensuring that it is solvent, well-governed, and delivering the objectives for which it has been set up.
The trustees will also annually review how the Union’s aims are to be achieved, which are found in the Governing Document – the Memorandum and Articles of Association and include:
- Promoting the interests of our members as effectively as possible at institutional, local and national levels
- Ensuring effective communication between our members, the University of Warwick and other bodies
- Providing for the educational, cultural, recreational, sporting, social and welfare needs of our members to the best of our ability
- Operating an effective equal opportunities policy while guaranteeing freedom of expression and minimising any adverse environmental impact, therefore providing a safe and enjoyable environment for all
The Board of Trustees has a responsibility not to implement any democratically developed policy which has damaging financial implications or breaches the law, if it is passed without a realistic financial plan.
- To work collectively and with the Chief Executive and other senior staff to ensure that WSU has a clear vision that recognises its values and meets the needs of its members.
- To monitor and evaluate the performance of WSU against targets and to ensure that it is focussed on achieving its vision.
- To ensure that WSU complies with all legal and regulatory requirements, including its governing document, charity law, company law and any other relevant legislation or regulations.
- To agree any delegated authority and ensure such delegated authority is clearly expressed.
- To safeguard the assets of WSU, taking due care over their security and proper usage, ensuring that they are used exclusively in the pursuit of the agreed objectives.
- To ensure that the governance of WSU is of the highest standard and that it follows guidance from any relevant bodies.
- To recommend the auditors and name the bankers of WSU.
- To safeguard the good name and values of the organisation.
- To annually approve and amend the finance regulations, annual budgets and strategic plans of WSU.
- To appoint and appraise the Chief Executive and to appoint the Board of Directors of any direct subsidiary companies of WSU.
- To contribute actively to the Board of Trustees, using any specific skills, knowledge or experience to help the Board of Trustees reach sound decisions
- involving scrutinising board papers, focusing on key issues, providing guidance.
- Take or seek opportunities to enhance his or her effectiveness as a Trustee through participation in training and development programmes and by increasing his or her own knowledge of WSU.