Committee Description
The Finance Committee reviews the annual operating budget and recommends approval to the Board of Directors. It also periodically reviews internally prepared financial statements and other items with potential material impact on the organization’s financial position and reports its results to the Board.
The Committee is responsible for accepting the Society’s finances’ yearly audit. It establishes the investment policy for CNS funds, assesses goals for strategic, capital, long-term, and operating reserve funds, and works with investment advisers on fund oversight.
- Conduct the annual budget review and recommend approval to the Board.
- Perform long-term financial planning, ensuring alignment with the organization’s strategic plan.
- Review internal financial statements quarterly and recommend actions to the Board.
- Investigate and guide financial implications of pertinent issues or transactions as directed by the Board.
The Finance Committee shall meet at least three times per year, or as necessary, convened by the Committee Chair. The Secretary-Treasurer serves as the board liaison for the Committee.