Sub Committee on Finance

The Sub Committee on Finance is tasked with overseeing the financial management and sustainability of the KPA Nairobi Branch. This sub committee develops and monitors the budget, financial reporting, investments, and fundraising activities to ensure the financial health of the KPA Nairobi Branch. They also work on financial planning, risk management, and accountability to support the long-term goals of the Association. The roles and activities performed by this Sub Committee on Finance may include:

a). Budget Planning and Development: The Sub Committee is responsible for working with the KPA Nairobi Branch leadership to develop annual budgets and financial plans. They assess financial needs, revenue projections, and cost estimates to create a comprehensive budget that aligns with the KPA’s strategic goals.

b). Financial Oversight: The Sub Committee provides financial oversight by monitoring the KPA Nairobi Branch financial performance, reviewing financial statements, and tracking key performance indicators. They ensure that financial resources are managed effectively, and financial goals are met.

c). Risk Management: The Sub Committee assesses financial risks and implements strategies to mitigate potential financial threats to the KPA Nairobi Branch. They may develop risk management policies, conduct risk assessments, and monitor compliance with financial regulations within the Association.

d). Financial Reporting: The Sub Committee prepares and presents financial reports to the KPA Nairobi Branch’s leadership. They communicate financial information, key performance metrics, and budget variances to ensure transparency and accountability.

e). Audit and Compliance: The Sub Committee collaborates with KPA auditors to conduct financial audits and reviews to ensure compliance with financial regulations, laws, and internal rules and regulations. They assist the branch leadership to oversee audit processes, address audit findings, and implement corrective actions as needed.

f). Investment Management: The Sub Committee may be involved in managing the KPA Nairobi Branch’s investments, overseeing investment portfolios, and making financial decisions related to investment opportunities. They evaluate investment options, assess risks, and monitor investment performance.

g). Financial Planning and Analysis: The Sub Committee conducts financial planning and analysis to support decision-making processes within the KPA Nairobi Branch. They analyze financial data, assess financial performance, and provide recommendations for financial improvements.

h). Financial Policies and Procedures: The Sub Committee implements financial policies and procedures to ensure compliance with best practices and legal requirements. They may recommend update of financial policies, development internal controls, and financial reporting standards.

Generally, the Sub Committee on Finance plays a critical role in promoting financial accountability, sustainability, and transparency within KPA Nairobi Branch. By overseeing financial management processes, monitoring financial performance, and making informed financial decisions, the Sub Committee contributes to the KPA Nairobi Branch’s long-term financial health and success.