Financial Review Committee

Mission

The Finance Committee assists the Board of Directors’ Treasurer in ensuring the financial and accounting integrity of the ACMG through an annual review of its financial practices, bookkeeping and budget management, and risk portfolio of investments.

Structure

The treasurer or a qualified board-designated interim will chair the committee comprising at least two ACMG members in good standing and the treasurer. The president and executive director are ex officio members.

Authority

While adhereing to the ACMG bylaws and Financial Management Policies and Procedures, the committee has the authority to request as many examples of bookkeeping and financial management as it needs to ascertain the integrity of the financial process. They can recommend financial direction to the board and suggest opportunities. The committee reports directly to the board through the committee chair (Active Advisor).

Roles and Responsibilities:

• Review association bookkeeping and financial statement examples to ensure they follow ACMG’s financial policy
• Review the association’s budget management and request explanations on significant variances
• Review the investment portfolio for acceptable risk and against the strategic goals of the ACMG
• Provide input into the annual financial review incorporated into the annual report
• Recommend changes to ACMG financial policy
• Identify broad financial opportunities
• Recruit new members as necessary
• Conduct a yearly review of committee performance and provide a report to the board