Overall Roles and Responsibilities
The purpose of the Budget and Finance Committee is to ensure that dues assessments by the Association are reasonable and necessary and that expenditures by the Association are prudent and appropriate.
Members of the Budget and Finance Committee study and make recommendations concerning the monthly/annual Association dues amount, develop and make recommendations for an annual Association budget, monitor spending by the Association during the course of the year, and from time to time make recommendations about other budgetary and financial matters as appropriate.
- The Committee receives budgetary recommendations from various other committees of the Association, determines the feasibility of the other committees’ recommended budgets, and considers such budgetary recommendations in formulating recommendations for the Association’s annual budget.
- The Committee presents the annual budget to the Board of Directors for approval.
- The Committee annually reviews the Reserve and Replacement Budget and makes recommendations to the Board for adjustments.
- The Committee meets at least monthly or more often as is reasonable and appropriate.
- The Committee is made up of a chair and other members who are appointed by the Board.
- The Committee chair attends meetings of the Board for the purpose of reporting on the Committee’s activities and recommendations. .
Finance Committee -2016
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