Finance

Rosemarie_Loftus.jpgThe Finance Committee ensures that the Society’s finances and resources (personnel and facilities) are sufficiently strong to enable it to undertake the operational and capital expenditure, now and in the future, that is needed to ensure that the Society properly serves its members and has adequate accumulated reserves to reinforce its position as a professional body with regulatory, educational and member services roles.

The objectives of the Committee are as follows:

  1. Generating a prudent level of surplus in general activity and education activity areas to provide for current expenditure, future developments and unexpected contingencies.
  2. Maintaining the Capital Expenditure, Litigation, LSRA, SMDF and other Funds in a healthy position, to ensure that they can meet demands in the relevant areas.
  3. Continuing a programme of strategic investment in facilities and IT projects to ensure maximum efficiency and proper delivery of services and support to members.
  4. Ensuring value for money for all operational and project spending.
  5. Maintaining the Practising Certificate fee increases in line with inflation in so far as is possible.
  6. Effective stewardship and management of the Society’s finances and ensuring proper and orderly management of the Society’s finance function.

Chair: Rosemarie Loftus

Vice-Chair: Paul Egan SC 

Members

  • Garry Clarke

  • Brendan Cunningham

  • Maura Derivan

  • Stuart Gilhooly SC

  • Richard Hammond SC

  • Julie Herlihy

  • Paul Keane

  • Sonya Lanigan

  • Sonia McEntee

  • Michelle Ní Longáin

  • Michael Quinlan

  • Austin Slattery

  • Brendan Twomey

Ex officio

  • Barry MacCarthy

  • Eamon Harrington

  • Martin Lawlor

Secretary: Gillian Cregan

Current issues on the Committee's agenda include the following:

  1. Expenditure review to support the PC fee reduction in 2021.
  2. Overseeing a significant investment in the replacement of the Society’s regulatory database with a member management system, System 360.
  3. Monitoring the wind down of the Solicitors’ Mutual Defence Fund in the context of the financial support commitment, approved by members.
  4. Constant review and monitoring of the Society’s cash holdings and investments.
  5. Various external reviews of the Society’s financial control environment on a risk management basis.

Please email any queries to the Committee Secretary, Gillian Cregan