Finance Committee
The Finance Committee
Reporting to: The Treasurer
Responsibility:
- recommend for approval by the Board all financial policies and procedures of the Society
- review bimonthly and annual financial reports and monitor income, expenditures, and variances with the Society’s annual budget
- recommend for approval by the Board an annual budget that reflects the Society’s mission, is in keeping with the Society’s Financial Management Policies and Procedures and is realistic
- conduct bimonthly and annual reviews of the Society’s accounts
- recommend for approval by the Board all investment policies
- solicit professional advice and/or services when necessary
- review the completed IRS Form 990 prior to submission
- review the Society’s journal of disbursements (accounting ledger on a bimonthly basis)
- at the June board meeting, present the budget status with recommendations for any projected excess or deficit