Diocesan Board of Finance

The Diocesan Board of Finance (DBF) is responsible for administration and financial management of the Diocese.

It operates through a company limited by guarantee governed by Memorandum and Articles of Association dated 2nd January 1998, and registered as a charity with the Charity Commission for England & Wales.


Membership of the DBF is governed by the Constitution of the Diocesan Conference of the Diocese of Monmouth adopted 13th October 2001, which stipulates that:

• Each deanery shall elect two lay members from amongst those elected to the Diocesan Conference;

• Not more than six lay persons, who need not be members of the Diocesan Conference, may be co-opted by the Board;

• Not more than four persons (either cleric or lay so long as the number of clerics on the Board shall not thereby exceed that of the lay persons) may be nominated by the Bishop. The lay persons so nominated need not be members of the Diocesan Conference;

• The Bishop may nominate one extra person during a three year period.

Membership of the Board is for a period of three years commencing at the Annual General Meeting following appointment.


At its Annual General meeting (AGM) the DBF appoints an Executive committee of ex-officio and elected members to be the Directors of the Company and Trustee board of the charity.  As such they are bound by both charity and company law.

The AGM is held in September and the Executive Committee meets 4 times per year.

The Executive Committee for 2015/16 comprises:


Mr Peter E Lea (Chairman)

Richard Harbottle (Vice Chairman)

The Bishop of Monmouth

The Dean of Monmouth

The Archdeacon of Newport

The Archdeacon of Monmouth

The Diocesan Registrar

The Chairman of the Property Board

Elected (July 15)

Revd Jeremy D Harris (Area Dean of Netherwent)

Revd Canon Timothy S Clement (Area Dean of Raglan & Usk)

Revd Canon David Neale (Area Dean of Newport)

Revd Canon Mark Soady

Paulette Brown   

Julio Benavides

Philip Masters

Christopher Wray

George Hughes 

Secretary and Executive Officer (for both the charity and its sub-committee)

Dr Paul Glover

The Secretary and Executive Officer is employed by the trustees to manage the day to day operations of the charity. The Secretary has delegated authority, approved by the trustees, for operational matters, staff management, finance and the overall operation of the charity within the approved budget.


The charity has a risk management strategy which is reviewed each year.


The investment strategy is determined by the Investment Advisory Group. It comprises the DBF Chair, Vice Chair, Diocesan Secretary, Diocesan Accountant, together with additional members of the DBF and Trust.

Under the governing document of the DBF, the charity has the power to invest in any way, subject to Trustee legislation.

The portfolio of investments is managed by an appointed Investment Manager (currently Brewin Dolphin) who meet twice each year with the Investment Advisory Group.

The Investment Manager is required to ensure that the prescribed ethical policy (as specified by the Representative Body of the Church in Wales) is followed at all times.


The trustees review the charity’s Reserves policy annually. The policy aims to maintain the equivalent of 6 months of the charity’s running costs in readily available funds.


A budget group, set up by the charity, is tasked with preparing a budget in the summer of each year for implementation the following year.