Finance Committee

The ISI Finance Committee is responsible for overseeing the financial health and investment strategies of the International Statistical Institute, providing expert advice on budgets, reserves, and staff remuneration. Composed of a Chair and at least four members appointed by the Executive Committee, the Finance Committee conducts annual reviews, prepares reports for the General Assembly, and ensures financial transparency through regular meetings  with the ISI Executive and Permanent Offices.

Terms of reference

• Examine the finances of the International Statistical Institute on an annual basis.
• Submit a report on the finances of the International Statistical Institute  and investments to be included in the ISI Annual Report for members’ information and discussion during the General Assembly.
• Examine the investment portfolio of the International Statistical Institute on a regular basis and advise the Executive Committee on investment policies.
• Provide advice on the size of the reserves of the International Statistical Institute.
• Advice about the Permanent Office staff salaries as member of the ISI Remuneration Committee. 

Structure and functioning

1. The Finance Committee shall be composed of a Chair and at least four other ISI members.
2. The Chair of the Committee is appointed by the Executive Committee for a term of 2 years. This term can be prolonged with another 2 years. The Committee members are appointed by the Executive Committee in consultation with the Committee Chair.
3. The Finance Committee shall meet at least once a year, either in person or by virtual means.
4. The Finance Committee meeting shall take place as soon as possible after the external auditors have completed their work of reviewing the finances of the International Statistical Institute and Associations and submit their statement about the finances.
5. The agenda for the meeting shall be prepared by the ISI Director in consultation with the ISI President and shall be finalized by the Chair of the Finance Committee.
6. The Permanent Office shall prepare all the background documents for the Finance Committee meeting including a brief analysis of the highlights in the background documents.
7. At its meeting, the Finance Committee shall review the finances, proposed budgets and current investments of the ISI, and provide advice to the International Statistical Institute.
8. The ISI Director and Finance Manager shall develop the minutes that document the key points of the discussion, findings and recommendations and submit to the Finance Committee for review and approval. This shall be done within two weeks of the Finance Committee meeting.
9. The minutes, including the findings and recommendations, shall be submitted for discussion by the Executive Committee at its next meeting.
10. The Finance Committee shall submit a short report (one to two pages) about the state of the finances and the investments of the International Statistical Institute. This will be first submitted for discussion to the ISI Council and will then be included in the International Statistical Institute's Annual Report and Associations, submitted to the General Assembly. 

Liaison with Executive Committee: The ISI Finance Committee Chair liaises with the ISI President. 

Liaison with Permanent Office: The ISI Finance Committee Chair liaises with the ISI Director and ISI Finance Manager.