Resource, Finance & Audit Committee

The Enterprise M3 Resources, Finance and Audit Committee acts as an Enterprise M3 LEP Board sub-group, with decision making powers. It provides a decision-making role on a range of operational issues, including resources, finance and audit.

This includes the following:

  • Proposing the budget for all revenue funding.
  • Reviewing financial performance reports, scrutinising the overall financial position.
  • Reviewing internal financial controls and risk management systems – including regular review of audit reports detailing risks and mitigation in place.
  • Overseeing internal review of compliance with the LEP Assurance framework
  • Overseeing staffing issues, including recruitment and contract extensions, and performance issues with financial implications.
  • Advising on Future Sustainability: Maintaining oversight of the financial requirements and procedures relating to all funding awarded.
  • Acting as a sounding board offering internal scrutiny, problem solving and supportive advice, including on the following matters:
    • Funding sources and programmes: exploring options for accessing additional funding through grants and other programmes
    • Procedures and operating policies including governance reviews, procurement, health and safety, risk
    • Stakeholder Memorandums of Understanding and other stakeholder partnership agreements
    • Good practice for HR, Finance and Risk matters
    • Consideration of organisational review of Enterprise M3 team.
  • Reviewing or make decisions on any other matters referred to the Committee by the Board.
  • Reporting to the Board on the proceedings of the Committee after each meeting and make available to Board members, the minutes of Committee meetings.
  • Liaising with the Accountable Body’s Audit Committee, representing Enterprise M3’s interests where necessary.

The Resources, Finance and Audit Committee comprises of the following members:

  • 2 x Non-Local Authority Enterprise M3 Board Directors (1 to chair)
  • 1 x Local Authority Enterprise M3 Board Members
  • 1 x Director of Enterprise M3 LEP

An Accountable Body representative will have a standing invitation to all meetings.

For further information on the Resources, Finance and Audit Committee, please contact Aleks Bennett on Aleks.Bennett@enterprisem3.org.uk