Manual of Fiancial & Internal Control Procedures - Diocese of ...

Guardianship of Assets
33. Assets are generally held in the name of the Company. Where the strict
requirements of legislation are followed, whereby the beneficial ownership of
the assets is beyond doubt, they may held in other names.
34. The Board is responsible for the Investment Policy, a copy of which is
available from the Finance Office.
35. Investment performance is the responsibility of the Management and Finance
Committee of the Board and is to be brought to its attention.
36. The opening and closing of bank accounts are to be authorised by the charity.
Dormant accounts should be reviewed from time to time and closed if
necessary.
37. The fixed asset register needs to be checked to the fixed assets themselves
from time to time. The condition of the fixed asset should be noted at that
time.
38. A proper register is maintained of land and buildings. This should be
expanded to include data relevant to their maintenance and insurance. It
should also include, for leased property, details of the terms of the lease. A
proper diary system is to ensure that the relevant notices are given at the
correct time for leased property.
39. Generally, where a property is let, the Diocese as landlord should insure and
then pass the cost on to the tenant through the lease.
40. The disposition (including selling or leasing) or charging of land is subject to
the special requirements for them under the Charities Acts.
41. Protection of the documents of title are the responsibility of the property
department. That department will also have responsibility for other legal
documents. It is essential that a receipt is always obtained for legal
documents which leave the building.
Special Computer Procedures
43. All Curia departments must:
a) ensure that personal data held is secure.
b) this includes physical security – doors which protect rooms which provide
access to personal data should be kept locked.
c) password protection should be used to control access to information and
encryption if appropriate for very secure data.
d) ensure proper arrangements for back up.
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