Finance Committee 2018-09-17T20:43:06+00:00

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:

  1. To work closely with RID’s Executive Director and RID’s Board of Directors to ensure the organization’s financial stability.
  2. To develop an annual operating budget, working closely with RID’s Executive Director and senior staff.
  3. To monitor adherence to the budget.
  4. To monitor quarterly financial statements and recommend adjustments to the Board as necessary to maintain a balanced budget.
  5. To set long-range financial goals along with funding strategies to achieve them.
  6. To develop multi-year operating budgets that integrate strategic plan objectives and initiatives.
  7. To present all financial goals and proposals to the Board of Directors for approval.

Reporting:

  1. Develop useful and readable report formats with staff.
  2. Work with headquarter staff to develop a list of desired reports noting the level of detail, frequency, deadlines, and recipients of these reports.
  3. Work with headquarter staff to understand the implications of the reports.
  4. Work with the Board Treasurer to present the financial reports to the Board of Directors.

Committee Members Appointed:

Chair: Treasurer Byron Behm