GETTING TO KNOW THE FINANCE COMMITTEE

2ND EDITION OF THE WEDNESDAY ARTICLE.

COMPREHENSIVE OVERVIEW

The capacity to comprehend and use a variety of financial abilities, such as investing, budgeting, taxation and personal financial management, is known as financial literacy. The cornerstone of a wise relationship with money and its movements is laid when one is financially educated. Effective management of finances, coupled with proficient financial understanding, allows an individual to navigate around financial barricades and minimize financial distress.

Gaining knowledge of financial literacy is crucial for managing one's own finances, introducing long-term financial planning, making better financial decisions, and boosting confidence in one's ability to manage money.?

The above stated facts, among others, necessitate the introduction and placement of a finance committee within ZCASEBA. Allowing financially competent individuals to spearhead and lead the motivation, education and creation of adept spending policies for the members of the association.?

OBJECTIVES

The association’s finance committee usually accomplishes a number of important goals to guarantee efficient money management and financial operations such as:

• Planning and Monitoring the Budget: This entails creating a thorough budget for the association, assigning money to different initiatives, and making sure the budget is followed.
• Ensuring accountability and openness in financial concerns. This entails keeping thorough records of every transaction and submitting financial reports on a regular basis.
• The Financial Policy Development department is responsible for establishing and updating financial policies and procedures that direct the association’s spending, reimbursement procedures, and financial behaviour.

?????FUNCTIONS

• To provide direction, advice as well as carry out the fiscal responsibilities of the board and the entire association.
• Ongoing review of the associations’ revenue and expenditure, balance sheet, investments and other matters related to its continued solvency.
• Ensure that adequate policies and procedures are in place for optimal financial governance.
• To review all financial statements and reports on any financial activity, respond to consolidated information about financial trends and risks as well as help executive members and other associates to fulfil the financial goals of the association.
• To spearhead the financial education of members through financial workshops, classes webinars and seminars.

In conclusion, with the tenacity required to carry out various financial tasks and the possession of a variety of skills including budgeting and investing, as well as knowledge in other financial concepts like taxation and borrowing, the finance committee plays a pivotal role not only in the running of the association but also in the imparting of financial knowledge in all associates. Ensuring all members understand financial management and are financially literate. All these being essential for managing finances and building financial confidence. The ZCASEBA Finance Committee oversees financial operations that benefit the association and its student members, with its main guidelines being financial transparency, budget planning, and the creation of responsible spending policies.

The finance committee is headed by the treasurer of the association. Currently holding this position is Kasonde Katongo . We cannot wait to see what the committee has in store for us

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ZCASEBA PUBLICATIONS COMMITTEE

Written by Sabrina Mukosha