Finance Committee:

 

Statement of Responsibilities and Purpose: (Revised 6/1/2004)
  • Become educated in the financial affairs of the Association
     
  • Review and refine the Association Management’s (G.M.) proposed budget for each upcoming fiscal year for submission to the Board no later than August 19th of each year.
     
  • When requested, review the financial impact of in-place contracts and new proposed contracts submitted to the Association
     

  •  Review, on a monthly basis, actual expenditure to budget.
     

  • Report on trends and advise the General Manager and the Board accordingly.
     
  • Review financial records and suggest the establishment of regular financial procedures to the General Manager and the Board.
     
  • Recommend an accounting firm to prepare the Association’s tax returns and conduct an annual external audit of the Association’s finances.
     
  • Review accounting firm audit report for the Board.  Provide assistance to the auditor as needed.
     
  • At the Board’s request and direction, research and report on financial issues to the Board in a timely manner.
     
  • Develop and use a written procedure to recommend to the General Manager any adjustments to any monthly journal entries.
     
  • Advise the General Manager in writing of any other specific new regular or irregular journal entries or of any necessary actions that Finance Committee recommends.
     
  • Annually, during October, review the financial status, accounting procedures, and dispersing equipment or inventory of all Clubs.

Membership:

The Committee shall consist of a Chair, Vice Chair, and at least five (5), but not more than seven (7), additional members.  Its members are recommended by the committee chairperson, appointed by the Board, and shall serve at the pleasure of the Board.

Meeting Times/Locations:

The Committee meets twice each month on the 2nd and 4th Monday at 9:00 am in The Village Center.

Chairperson or Contact Person (s):

To obtain this information, please click here or contact the Village Center at 520-572-9780.

Meeting Minutes:

Minutes are available from the Chairperson, Contact person, or may be requested from the Village Center.

Updated: 6/4/2004
Information provided by: Tonya Martin