The Finance Committee provides information and oversight to help the Executive Board make decisions about Fellowship budgeting and financial management.
All Finance Committee members share equally in responsibility for the work of the committee. The Treasurer represents the Finance Committee at Executive Board Meetings. As Finance Committee members, the Chair and Chair-Elect attend Executive Board meetings and can also speak to the work of the Finance Committee. All Finance Committee members are encouraged to attend and participate in budget preparation meetings.
The Finance Committee
- drafts financial policies for review and approval by the Executive Board and, for those adopted by the Executive Board, monitors their implementation
- develops budget and accounting procedures
- provides support and guidance for the Fellowship Treasurer in following Fellowship financial policies and accounting procedures
- meets monthly to review financial statements and address any needed changes or corrections in preparation for presentation of financial statements at the monthly board meeting
- communicates with the Endowment Trustees regarding non-endowment Fellowship funds on deposit at the Douglas County Community Foundation
- involves Trustees in UFL budget planning discussions
- oversees the Fellowship’s Restricted Funds held outside the UFL Endowment and makes recommendations to the Executive Board for expenditures from those Funds
- provides information about the financial state of the Fellowship that may assist in making budgetary decisions
- participates with the Treasurer and Chair-Elect in their work with Teams/Committees to develop the proposed budget for the upcoming fiscal year
- participates in budget preparation meetings and the Fellowship Annual Meeting to answer questions about the proposed budget and Fellowship fiscal status
- notifies Executive Board Chair when books are closed for the fiscal year and ready for auditing
Members: (2015-2016) Barbara Thompson (Chair), Bob and Martha Burbank (Co-Chairs Elect), Nicole Wells (Treasurer), Susan Harper, Craig Long, Lynette Forbes, Curtis Russell, and Sara Vancil, who is Liaison to Stewardship Team.