Finance Committee

Membership:

The Finance Committee consists of active FIRMA members in good standing, including the current FIRMA President (voting member) and Executive Director (ex-officio – non-voting). A member of the Board of Directors with a financial and/or accounting background serves as Chair. The Finance Committee should be comprised of five (5) to seven (7) members (which includes the current President and Executive Director). Members can serve up to seven (7) consecutive years on the committee.

Mission Statement:

The Finance Committee provides independent oversight of FIRMA’s financial management, including budgeting, investments, and disbursements.

Functions:

  • Review and approve annual and quarterly budgets, as well as financial statements.
  • Oversee investments and approve strategies recommended by the Executive Director.
  • Review and approve IRS Form 990 filings.
  • Ensure appropriate segregation of duties between the Executive Director and Chief Administrative Officer.

Committee Meetings:

The Committee meets virtually at least quarterly, with additional meetings scheduled as needed.

 

Return to Committees Home