Chair: Hilary Hoekenga, Board Treasurer
Staff Representative: Dan Kurschner, Director of Operations and ELT member
General Purpose – The finance committee is commissioned by and responsible to the Board. It is responsible for working with the ELT to create the upcoming fiscal year budget, presenting budget recommendations to the Board, monitoring implementation of the approved budget on a regular basis and proposing budget revisions, recommending to the Board appropriate policies for the management of Mountain Song’s assets. The finance committee shall be assisted by the ELT as needed.
Appointments and Composition
- The members of the finance committee shall be the Treasurer of the Board who shall serve as Chair, the Board Chair who shall serve as an ex-officio member, together with other Board members appointed by the Chair with the advice and consent of the Board in accordance with the Bylaws.
- The Director of Operations will be a member of the finance committee.
- Additional committee members may be appointed and need not be members of the Board.
- Prepare an annual budget for the organization in collaboration with the ELT.
- The Chair, in collaboration with the ELT, shall develop and annually revise a five-year financial forecast and develop long-range financial plans based on the forecast.
- Arrange for an annual audit to be provided to the Board.
- Provide oversight of the procurement process.
- Review monthly financial statements and variances from budget, and recommend action to the Board, as appropriate.
- Create specific measurable Board-level goals for the year as part of the full Board planning process.
- Develop and implement a Board-level training program to ensure that all Board members (especially those without a financial background) can be effective stewards of the organization’s financial resources.
- Report to the Board at regular meetings of the Board in a manner determined by the Board.
- Annually evaluate its work as a committee and the objectives it has committed itself to and report on same to the Board.