Effective from March 2018

Approved by: Board of Directors

At a Glance

Five Good Friends believes strongly that strong and robust governance is vital to the provision of high-quality care and support services to our Members. The role of the Five Good Friends Board is central to achieving our goals as a provider of services to vulnerable members of our community.

Scope

This Charter applies to the Five Good Friends Board. The Board is responsible for implementation and review of this Charter.

Objective

This charter sets out the responsibilities of the Board in governing Five Good Friends, the accountability and controls of the organisation, and a framework for the administration of best practice in corporate governance.

The purpose of this charter is to:

• ensure that the Board complies with best practices in governing the organisation, and
• that the Board has appropriate accountability measures in place while governing the organisation.

Definitions

• N/A

Charter Statement

• We will take all reasonably practicable steps to comply with the relevant obligations (including reporting obligations) imposed under any state or commonwealth law or by any relevant Australian Standard.
• The Board is responsible for ensuring that the organisation complies with the Constitution of the organisation at all times.
• The Board is responsible for, amongst other things:
  • providing the strategic direction of the organisation
  • setting the short, medium and long term goals and objectives of the organisation
  • assisting management to implement, monitor and develop the strategic direction of the organisation
  • determining and implementing policies to govern the operations of the organisation
  • approving budgets and business plans
  • establishing limits on the delegation of authority
  • reviewing and reporting on the progress and performance of the organisation in meeting its objectives
  • ensuring that the organisation has adequate capital and cash flow to sustain its activities
  • establishing and reviewing the risk management strategy that, amongst other things, identifies, assesses, monitors and manages significant financial risks the organisation is exposed to in the course of its activities
  • ensuring that the organisation complies with any legislative requirements, and
  • reviewing the financial operations of the organisation and ensuring that the organisation remains solvent.