The Finance and Administration Committee has representatives from all member governments. The Committee is responsible for making recommendations on budget and administrative matters to Council. It approvs annual audited budgets for years-ended, and provides budgets for the current and future fiscal years for Council's approval. The Committee has its own Rules of Procedure. The Finance and Administration Committee comprises members appointed by the member nations.
The current Chair is Jóannes V. Hansen (Faroes) and the Vice-Chair is Ásta Einarsdottír (Iceland).
Jóannes V. Hansen (FO), Chair
Ásta Einarsdottir (I), Vice-Chair