Finance Committee

Committee Description/Purpose/Objectives

The Finance Committee will review and evaluate financial reports, annual budgets, and major financial decisions. The committee shall be led by Treasurer.

Responsibilities

• Review and recommend the annual budget. Review monthly financial reports.
• Review and evaluate programs set up for the purpose of financing budgeted activities.
• Report to the Board of Directors at its regular meetings.
• Review non-budgeted financial issues or decisions. Review committee guidelines annually.
• Perform other related functions as appropriate and agreed to by the Treasure, the IECA Board of Directors and the Executive Director.

Goals

The Finance Committee shall facilitate communication between the Board of Directors and IECA staff concerning all financial issues. This committee supports IECA accomplish its mission and vision from a financial perspective.

Meetings/Reports

• Finance Committee will hold a minimum of two meetings each year. One meeting will be in person and will take place at the annual IECA conference. The other can be conducted by teleconference call, per the Treasurer’s discretion.
• The committee may meet at other times as designated by the Treasurer.
• Communications may occur via email or phone at the discretion of the chair. All committee members must be notified of meetings a minimum of 7 days prior to a meeting.
• The committee chair will submit a written report to the Treasurer of the IECA Board of Directors a minimum of five weeks prior to the Board meeting twice per year for review by the Board.
  
  

Membership /Qualifications/Term of Service

The Finance Committee shall be made up of IECA members in good standing including the Finance Committee Chair and Board of Directors. Terms will be staggered based upon a schedule established by the Chair. An existing Chair can be re-appointed.

Structure and Bylaws

The Finance Committee size should be 3-5 members, including Chair. Committee members should serve 2-year terms, Chair 4-year term. • The committee is Chaired by a member appointed by the President of the Board of Directors. Committee members are appointed by the Chair.