Finance Committee Guidelines
The Finance Committee’s duties are to plan and present a budget to the membership at the beginning of the fiscal year. The fiscal year is October 1 - September 30. The committee should monitor the finances of the Auxiliary during the year.
Each committee member should receive a copy of each treasurer’s report presented to the Executive Committee. It is necessary to monitor income and expenses.
If any item is going to exceed the budgeted amount, the budget must be amended by the Executive Committee before the bill can be paid.
The committee members should be informed of committee meetings before the Annual Meeting.
In August, a letter should be sent to all committee chairpersons asking them to project needed funds for the coming year. The prior yearâ€™s expenses and receipts should be examined. The committee should recommend a budget based upon the collected information.
The budget is presented at the Annual Meeting.
When any monies are returned to the Foundation account it should be specified which fund they are to go into.