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  4. Ensuring the stewardship of assets

Principle 1

Ensuring the stewardship of assets

Stewardship refers to the careful and responsible management of something entrusted to our care.  Assets are everything your organisation owns, including money, money owed to you, equipment, vehicles, goods, property and land, etc. as well as intellectual copyright.

Management Committees are responsible for ensuring that the organisation gets the best from its assets and uses them as effectively and efficiently as possible.  This is the case through the lifetime of the organisation from its inception to a situation of how assets are dealt with on winding up the organisation.  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 3.

Management Committee responsibilities towards particular kinds of assets can be found through the links below: