Diocesan finance committee

The Diocesan Finance Committee is a sub-committee of the Council of the London Diocesan Fund, which is empowered to make executive decisions and act on them on behalf of and in the name of the LDF, subject to its decisions (except in the case of an emergency) being previously circulated to all members of the LDF, and no objections having been received, as detailed in the Terms of Reference.

The Committee meets approximately seven times each year to consider matters relating to the property and finances of the Diocese. Decisions of the Finance Committee are circulated to all members of the LDF (i.e. the Diocesan Bishop’s Council) and if no objections are received from LDF members within seven (clear) days the decisions become effective. (In practice this works out at, of the order of, 10 days after the meeting).

If an objection is received from one or two members of the LDF then the matter is referred to the Chair of the Finance Committee or the Lay Vice-Chair of the LDF to be dealt with. If an objection is received from three or more members of the LDF, the decision must then be ratified by a meeting of the Bishop’s Council before becoming effective.

Additionally, there are provisions in place to cater for the carrying out of small transactions and for situations of emergency where urgent transactions and decisions are required.

Membership

The Diocesan Finance Committee is composed of the following members:

• the Bishop of London, the Clerical and Lay Vice-Chairs of the LDF, the Treasurer and Deputy Chair of the LDF (where appointed), and the Archdeacons of the Diocese;
• three clerical members elected by the whole membership of the Diocesan Bishop’s Council;
• six lay members elected by the whole membership of the Diocesan Bishop’s Council;
• five lay members, one elected by each of the Area Councils in the Diocese.
• up to seven other members, nominated by the Bishop of London or co-opted by the Committee, but such as to ensure a lay majority of members.

The three clerical and six lay members elected by the Diocesan Bishop’s Council must also come from the membership of that Council.

The five lay members elected by the Area Councils need not be members of those bodies.

Membership: 1 January 2019 – 31 December 2021