Finance Committee

The Committee is composed of at least seven regular members of the Society, including one early career and one trainee member. The term of each member of the Finance Committee shall be three years; a member may not serve more than two consecutive terms. The Immediate Past President serves as a voting member. The chair is an ex officio member of Council, without vote. The president elect, president, executive director, and the publications committee chairperson are ex officio members of the committee, without vote. The chief financial officer serves as staff liaison.

• At the fall meeting of Council, recommend an annual budget for the succeeding year based on a proposed budget submitted by the executive director and the chief financial officer.
• In advance of the spring council meeting, review budget revisions for the current year, as provided by the chief financial officer.
• Review annual official audit from the preceding year.
• Review annually the salary pool for staff members of the Society with recommendations of appropriate salary adjustments for approval by Council at the fall meeting.
• Review annual coordinated fiscal reports made by the executive director and other agencies of Council and indicate to Council all financial matters that should be brought to the attention of the membership.
• Submit summary of annual financial report for publication.
• Determine appropriate placement of all cash and investments (e.g., investment consultants, fund managers, banks, etc.), subject to approval by Council.
• Submit a written annual report to Council at their spring meeting, as part of the consent agenda, providing activities from the previous 12 months. The report will be due three weeks ahead of the meeting.