Functions: The role of the finance committee is primarily to provide financial oversight for the organization. Typical task areas include budgeting and financial planning, financial reporting, and the creation and monitoring of internal controls and accountability policies. An outline of responsibilities appears below.   Budgeting and Financial Planning

1. Develop an annual operating Budget.
2. Approve the Budget within the finance committee.
3. Monitor adherence to the Budget.
4. Set long-range financial goals along with funding strategies to achieve them.
5. Present all financial goals and proposals to the Governing Council for approval.

  Internal Controls and Accountability Policies

1. Create, approve, and update (as necessary) policies that help ensure the assets of the organization are protected.
2. Ensure approved financial policies and procedures are being followed.

  Responsibilities: Chairman As chair of the finance committee, the board chairman makes sure the committee does its job. Specific duties of the chair include:

1. Serving as the principal liaison between the committee and the governing council,
2. Working with the staff leader to set an agenda for each committee meeting,
3. Ensuring handouts and reports are prepared and sent to committee members in advance.
4. To elaborate plans for the capital budgeting.
5. To ensure approved financial policies and procedures are followed.

  Member Secretary:

1. To notify the meeting agenda.
2. To present the Budget for the review and approval.
3. To table the provisional balance sheet and audited balance sheet for discussions.
4. To monitor adherence to the budget.

  Member

1. To review the budget and suggestions for any changes.
2. To review the capital budgeting.