2003-2004 AAA COMMITTEES

FINANCE COMMITTEE
(Standing Committee of the Association)

Charge:

Assist the Executive Committee in monitoring and improving all aspects of the Association's finances. Specifically:

1. Review the previous committees' reports and other important background material.
2. Evaluate additional or alternative ways to finance existing Association activities.
3. Plan financial strategies for Association initiatives and activities.
4. Work with the 2004-2005 President-elect in preparing the 2004-2005 budget.
5. Monitor the investment of AAA funds in accordance with established Executive Committee policies and procedures.
6. Oversee the budgeting system for the Association, including appropriate costing of products and services. (Issues regarding publications should be coordinated with the Publications Committee.)
7. Review, as needed, Association costs (such as employee benefits) and recommend changes, as appropriate.
8. Undertake special initiatives concerning the financial goals and strategies of the Association as directed by the President or Executive Committee.
9. Compare AAA operating ratios and sources of revenues to those of comparable associations reported in the most recent ASAE Operating Ratio Report. Provide results of the comparison to the Executive Committee in time for its fall meeting.
10. Provide a progress report to the Executive Committee liaison in time to be included in the agenda book for each Executive Committee meeting.

Chair:

Judy Rayburn
University of Minnesota
Department of Accounting
321 19th Avenue South
Minneapolis, MN 55455-0413
Phone: (612) 624-3840
Fax: (940) 626-1335
Email: jrayburn@csom.umn.edu

Members

EC Liaison

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