VPRS 19341 Finance Committee Minutes

This record series consists of the Minutes of the Finance Committee of Prince Henry's Hospital. The Finance Committee was an integral committee of the Hospital for much of the Hospital's existence. Subjects discussed by the Finance Committee and recorded in the minutes included the approval of accounts for payment, financial statements, loans, investments, government grants, rents, bequests, donations, and salaries and wages. The Finance Committee met monthly prior to meetings of the Board of Management (previously known as the Committee of Management). It made recommendations in relation to departmental budget allocation and, when necessary, imposed financial restrictions to contain services within the limits of the financial resources available. Advice on investments and planned availability of funds to meet various requirements was an important function of the Committee. The Committee included representation from the Board, the Executive, Medical, Nursing and Business and Administrative Services during its latter years of existence. The first known reference to a Finance Committee was in the minutes of the meeting of the Committee of Management held on 18 February 1880. It is not known when the Committee commenced recording official minutes. The minutes from the General Committee to January 1882 refer only to reports received from the Finance Committee. The earliest minutes extant are the minutes for the meeting held on 14 February 1938. Subjects discussed and recorded were set out in the left hand margin of each page. The last meeting of the then Finance Committee was held on 18 September 1973. It was to be superseded by the Executive Committee. A restructure of the Hospital's administration commenced from 1 October 1973. From that date there would be an Executive Committee, composed of Board members and senior administrative officers, which would, within a policy framework laid down by the Board, be responsible for the efficient day to day management and functioning of the Hospital. The Executive Committee was to meet at two-weekly intervals. The full Board would meet quarterly to receive and consider reports from its Executive Committee. The House, Finance and Building Committees were to be absorbed by the Executive Committee. During 1982-83, the Board of Management re-established monthly meetings and dispensed with fortnightly Executive Committee meetings and bi-monthly Board meetings. It was found that the regular monthly meetings of the Finance, Resources Utilization, and Buildings and Resources Development Committees had reduced the need for fortnightly Executive meetings. Minutes of the re-constituted Finance Committee meetings date from 23 November 1982. By the time of the 16 February 1987 meeting (Unit 11 of consignment C1), Prince Henry's Hospital had been amalgamated into the Monash Medical Centre (VA 2823), from 1 January. At this meeting the Chairman indicated that the purpose of the meeting was to review the current position and to provide input to the consolidated Finance Committee of the Monash Medical Centre. The last minutes recorded in this record series are dated 19 May 1987. Consignment C1, unit 1 in this series contains Minutes of the Medical Appointments Committee for the period from March 1938 to August 1940.