|American Heraldry Society||SUBJECT||Finance Committee|
|Governors' Policy Manual||VERSION||Revised||EFFECTIVE 14-May-12|
4.3 Finance Committee
188.8.131.52 The Finance Committee (“committee”) is responsible for monitoring the Society’s overall financial health, including overseeing budgeting and financial planning, safeguarding the organization’s assets, reviewing and proposing internal controls and fiscal policies, anticipating financial problems, and ensuring that the Board receives accurate and timely financial information.
184.108.40.206 The committee consists of the President, Secretary, and Treasurer.
220.127.116.11 The Board may appoint advisory members with financial expertise demonstrated by professional certification, education and/or prior business experience in budgeting and finance.
18.104.22.168 The Treasurer serves as committee chair. The Vice President serves as committee vice-chair.
22.214.171.124 Any Board member or Society officer may attend a committee meeting.
4.3.3 Duties. The committee shall:
126.96.36.199 Ensure the day-to-day financial operations of the Society are conducted effectively and efficiently and review financial statements prepared by the Treasurer.
188.8.131.52 Review the annual budget prepared by the Treasurer and recommend it to the full Board for approval.
184.108.40.206 Monitor budget implementation and financial procedures.
220.127.116.11 Review internal financial controls and monitor budget assets.
18.104.22.168 Monitor compliance with federal, state, and other reporting requirements.
22.214.171.124 Help the full Board and Society members understand the Society’s finances.
4.3.4 Authority over Assets.
126.96.36.199 Each committee member shall be a signer on each account holding Society financial assets.
188.8.131.52 Each committee member shall be given access to all assets and information on those assets at a level appropriate and necessary to carry out their duties as committee members.
184.108.40.206 The Board shall ratify committee decisions made under Sections 220.127.116.11 and 18.104.22.168 before the decisions are effective. If the Board does not ratify committee decisions under those sections, the decisions are void.
22.214.171.124 When a committee member other than the Treasurer resigns or is replaced for any reason, the Treasurer shall ensure the revocation within 15 business days of that committee member’s rights of access, including the revocation of user names and passwords and removal of mailing addresses by the appropriate financial institution.
126.96.36.199 When the Treasurer resigns or is replaced for any reason, the President shall ensure the revocation within 15 business days of that chair’s rights of access, including the revocation of user names and passwords and removal of mailing addresses by the appropriate financial institution.