Finance Committee

  1. Purpose of Committee
    Responsible for overseeing the financial affairs of the Association. The committee works closely with the Executive Director and financial advisors as deemed appropriate by the Board of Directors.

  2. Membership of Committee
    Chaired by the Secretary/Treasurer, the committee is comprised of two to four APSA members and the Executive Director.

  3. Terms of Committee Members
    Membership on the committee will be reviewed annually.

  4. Responsibilities:
    • Monitor quarterly financial statements and recommend adjustments to the Board as necessary to maintain a balanced budget.
    • Present a recommended budget for approval by the Board at its June meeting.
    • As GIC’s mature, meet with investment advisors to review investment performance and make recommendations to the Board for further action.
    • Develop and present for approval by the Board financial policies as deemed appropriate.
    • Review the annual engagement report and report the results as soon as they are available to the Board and to the membership at the Annual General Meeting.

  5. Committee Decisions
    Decisions of the committee will take the form of recommendations to the Board of Directors.

  6. Meetings
    Meetings will be held at the call of the Chair but will be held not less than quarterly.
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