Stewardship of Assets
Managmeent of Assets
Stewardship refers to the careful and responsible management of something entrusted to ones care. Assets are everything your organisation owns- including money, money owed to you, equipment, goods, property or lands etc.
Management Committees are responsible for ensuring that the organisation gets the best from its assets and uses them as effectively as possible. This is the case through the life time of the organisation from its inception to a situation of winding up and how assets are dealt with. This means that the Management Committee needs to ensure that all the assets of the organisation are well managed, this includes staff and volunteers as well as the more financial assets detailed above. There is more information about exercising control in Principle 4.