Finance Committee

The Finance Committee is chaired by the Board Treasurer and consists of a minimum of eight members. There must be five Board directors and three non-Board participants.

The Finance Committee receives, reviews, and recommends proposals for funding to the Board and participates in the interview process with potential grantees. The Finance Committee reviews and presents the Corporation’s annual budget for Board approval. Budget amendments and revisions will be processed through the Finance Committee. Rare instances may occur where immediate action may be taken by the Executive Committee. The Finance Committee will participate in developing and implementing policies and procedures for proposal review, developing and reviewing a financial policy manual, and oversight of contracts management. The Finance Committee will also provide oversight of investment funds.

Monthly statements of income and expenditures for the Corporation are reviewed, and the Finance Committee presents a financial report to the Board. The Finance Committee ensures compliance with state, federal, and non-profit regulations regarding fiscal management and works with the President in carrying out its responsibilities as directed in these bylaws.