The ALSN Finance Committee will exist to secure the financial health of ALSN organization. Appointed members have a fiduciary duty to ensure the financial matters of the organization are in line with the mission of the organization. Specifically, the responsibilities of Finance Committee members are to:
- Main accurate and complete financial records.
The Finance Committee’s most important role is to ensure the records of the organization are accurate and complete. Part of that role is to review all available information and compare to prior year information, budgeted balances or other useful benchmarks.
- Prepare and present accurate, timely, and meaningful monthly financial reports to the Board.
Given that the board is tasked with making decisions that affect the operations and viability of the organization, it is the responsibility of the Finance Committee to prepare and present relevant and accurate financials in order to allow them to make decisions properly and in the best interest of the organization.
- Prepare annual budgets for the Board.
It is the responsibility of the budget committee to prepare and present an annual budget, including a conference budget for annual Board approval.
- Comply with Federal, State, and other reporting requirements.
With the assistance and guidance of the organization’s management company, the Finance Committee is responsible for making sure all federal, state, and local reporting requirements are met.
Provide support for other committees as necessary.
The Finance Committee will provide support and assistance to other committees and workgroups as necessary. For example, the Finance Committee will support and assist the VP of Programs in terms of creating budgets for events.
Members of the Finance Committee will be expected to:
- Attend monthly / bi-monthly meetings via Zoom.
- Assist in the development and review of proposed budgets as needed.
- Assist with monthly updates and reports as needed.