Updated June, 2016

PURPOSE/FUNCTION:
Develop and recommend to the Board those financial principles, plans, and courses of action that provide for mission accomplishment and organizational financial well-being.

COMPOSITION:
The Finance Committee shall be comprised of the Chief Financial Officer (CFO), one (1) additional Board member and up to four (4) other members. Diversity in committee composition is desired.

TERM:
Two (2) committee members shall serve a term of one (1) year, one (1) committee member shall serve a term of two (2) years, staggering opposite the CFO’s two-year term. Committee members are appointed by, and serve at the pleasure of, the CAMFT Board of Directors. CFO serves as Chair.

MEETINGS:
The Finance Committee shall hold at least four (4) tele/video conference meetings per year, including one (1) meeting to review the budget. The Committee communicates as necessary via email.

RESPONSIBILITIES:

• Review the annual budget and submit it to the Board for its approval
• Make recommendations to the Board with regard to:
  • the level and terms of indebtedness
  • cash management
  • financial monitoring and reports
  • signatory authority for expenditures
  • policies the committee determines are advisable for effective financial management, including the investment policy and reserve policy
• Committee members are required to sign: Committee Member Participation Agreement, Conflict of Interest Policy, Anti-Trust Compliance Policy, and Consent to Electronic Transmission

CAMFT Committees