The role of the finance committee is primarily to provide financial oversight for the organizations in the Midwest. Typical task areas include to help all members budgeting efforts and financial planning / reporting efforts, and help the organizations for the creation and monitoring of internal controls and accountability policies. An outline of responsibilities appears below.
Budgeting and Financial Planning:
- Assist develop a sample annual operating budget with committee members.
- Assist monitoring adherence to the budget.
- Assist setting long-range financial goals along with funding strategies to achieve them.
- Assist developing multi-year operating budgets that integrate strategic plan objectives and initiatives.
- Assist presenting all financial goals and proposals to the board of directors for approval.