Finance committee
BACKGROUND: The average household has just £144 of weekly disposable income, according to the monthly Asda Income Tracker. After five months of improvements in the year-on-year change to the report for February showed a ‘marginal reversal’ of the trend
CURRENT POSITION: The finance committee conducted a review of Asda’s income tracker operations and prepared a presentation which the I presented to the most recent FC meeting On the 20 December 2012 . The review made the following findings: The income tracker shows unemployment is likely to continue to act as a drag on household finances and despite some recent improvements in the cost of utilities and transport; they remain two of the main factors putting pressure on families' spending power The income tracker shows unemployment is likely to continue to act as a drag on household finances and despite some recent improvements in the cost of utilities and transport; they remain two of the main factors putting pressure on families' spending power.
The EC noted that: The Risk Assessment (RA) has recently been strengthened and is now operating with two independent members The RA has recently been refocused around risk.
The general agreement of the Committee was that the functions of the Financial committee could be combined with those of the risk assessment committee (RAC).
COMMENT:In order to ensure that the RAC is able to take on the functions previously the responsibility of the Finance
