Finance committee

Ian Burke
Chairman of the Finance committee

• Who is on the Finance committee?
• What is the role of the Finance committee and how often did it meet during 2010?

Who is on the Finance committee?

The committee comprises of the following:

	Date first appointed
Ian Burke	Mar 2006
Clive Jennings	July 2011
Colin Child	Jan 2012
Tim Scoble	Sept 2011

What is the role of the Finance committee and how often did it meet during 2010?

The board has established a finance committee which is comprised of the chairman, chief executive and finance director which is authorised to approve capital expenditure and make financing decisions for the Group up to authorised limits. On behalf of the board, the finance committee's role includes setting, monitoring and reporting on:

• operating plans;
• monthly comparison of operating divisions’ actual financial performance against budget; and
• year-end forecasts.

The committee met on 20 occasions during the year and the issues it discussed included:

• assessing potential business expansion opportunities;
• capital expenditure requests for new sites and gaming equipment;
• the Group's utilities requirement;
• insurance cover and uninsured risks;
• disposal of Blue Square on-course betting business;
• treasury matters; and
• non-executive directors’ fee review.