The Finance Committee provides financial oversight for the organization, including budgeting and financial planning, financial reporting, and monitoring of internal controls and accountability policies.
Reports to: Board of Directors
Frequency of Reports: Quarterly, with a Summary report in March.
For the term 2017-2020, the Finance Committee members are charged to complete the following tasks:
- To work closely with RID’s Executive Director and RID’s Board of Directors to ensure the organization’s financial stability.
- To develop an annual operating budget, working closely with RID’s Executive Director and senior staff.
- To monitor adherence to the budget.
- To monitor quarterly financial statements and recommend adjustments to the Board as necessary to maintain a balanced budget.
- To set long-range financial goals along with funding strategies to achieve them.
- To develop multi-year operating budgets that integrate strategic plan objectives and initiatives.
- To present all financial goals and proposals to the Board of Directors for approval.
- Develop useful and readable report formats with staff.
- Work with headquarter staff to develop a list of desired reports noting the level of detail, frequency, deadlines, and recipients of these reports.
- Work with headquarter staff to understand the implications of the reports.
- Work with the Board Treasurer to present the financial reports to the Board of Directors.
Committee Members Appointed:
Chair: Treasurer Byron Behm