The Finance Committee is responsible for monitoring the financial condition and goals of the Association and assisting in achieving the Strategic Plan as directed by the Bylaws.
- The Finance Committee shall consist of nine members, including the Chair, with staggered three year terms.
- The President, President-elect, and Past President serve on this committee.
- The bylaws mandate that the Vice President – Finance and the Vice President Finance-elect (in years when there is an elect position) always serve on this committee.
- The Vice President-Finance shall Chair the Committee.
- In 2015-2016, the incoming President-elect will appoint the Vice President Finance-elect to serve on this committee.
- The Finance Committee meets at the Annual Meeting and in the winter (generally February) to review the financial condition of the Association, discuss important related issues, and approve the budget.
- Other meetings of the committee or its sub-committees or task forces may be scheduled in person or by teleconference at the discretion of the Chair.
- A quorum shall consist of six (6) members.
- To provide a communication link with Council, the Council Chair, Council Past Chair, and Council Chair-elect will be invited to attend the meetings.
- Review the previous minutes, reports, and other important background material.
- Evaluate additional or alternative ways to finance existing Association activities.
- Plan financial strategies for Association initiatives and activities.
- Approve the following fiscal year's budget and revisions to the current year's budget for recommendation to the Board of Directors.
- Monitor the investment of AAA funds in accordance with established Board of Directors policies and procedures.
- Review, as needed, Association costs and recommend changes, as appropriate.
- Undertake special initiatives concerning the financial goals and strategies of the Association as directed by the President or Board of Directors.
- Review and prepare a recommendation for the Board of Directors on the desirability of dues increases or altering the dues structure as well as Annual Meeting fees of the AAA.
- Barbara Gutierrez, (email@example.com) Governance Manager, assists with providing logistical support for committee and task force meetings and conference calls.
- If the Chair has any questions about the charge or responsibilities of this committee, s/he should contact the Executive Director, the President, or the committee’s Board of Directors Liaison.
- The Chair will have the opportunity three times every term-year to prepare and send a progress report which will be available for the Board of Directors to review at their next meeting. This report should include accomplishments and suggested modifications and should be sent to the AAA President, the committee's Board of Directors Liaison, and Governance Manager, Barbara Gutierrez (firstname.lastname@example.org).