2020 Finance Committee
Committee Type: Standing Committee
The Secretary/Treasurer will appoint a committee to review the annual operating and capital budget by maintaining SBAR’s financial policies and goals.
Chair: Dru Cash
Vice Chair: Beau Dunfee
Secretary: Meria Drews
Committee Composition: The Committee member will serve two-year term.
Mission Statement: The committee is responsible for reviewing financial policies, goals, and budgets that support the mission, values, and strategic goals of the organization. The committee also reviews the organization’s financial performance against its goals and reports variances to the Board of Directors and CEO.
- Review the annual operating budget and annual capital budget in preparation for annual presentation to the Board of Directors.
- Review capital and operating expenditures and report to the Board of Directors those categories that deviate from budgeted amounts on a quarterly basis.
- Review the financial aspects of major proposed transactions, new programs, and services, as well as proposals to discontinue programs or services, and make quarterly presentations to the Board of Directors.
- The Finance Committee will meet at least four times per year or more as needed for review of annual budgets and quarterly statements.
- Finance Committee members will have access to SBAR Finance containing budgets, monthly financials, tax returns, and other related SBAR financial data.
- The Budget Committee will consist of six to eight members including the committee chair serving staggered 2-year terms.
- The committee chair will need to have served as a SBAR Secretary/Treasurer.
BOARD COMMITTEE PRINCIPLES:
Board committees, when used, will be assigned so as to minimally interfere with the wholeness of the board’s job and so as never to interfere with delegation from the board to CEO.
- Board committees are to help the board do its job, not to help the staff do its jobs. Committees ordinarily will assist the board by preparing policy alternatives and implications for board deliberation. Board committees are not to be created by the board to advise staff.
- Board committees may not speak or act for the board except when formally given such authority for specific and time‑limited purposes. Expectations and authority will be carefully stated in order not to conflict with authority delegated to the chief executive.
- Board committees cannot exercise authority over staff. Because the Chief Executive works for the full board, the CEO will not be required to obtain approval of a board committee before an executive action. In keeping with the board’s broader focus, board committees will normally not have direct dealings with current staff operations.
- Board committees are to avoid over‑identification with organizational parts rather than the whole. Therefore, a board committee which has helped the board create policy on some topic will not be used to monitor organizational performance on that same subject.
- This policy applies only to committees which are formed by board action, whether or not the committees include non‑board members. It does not apply to committees formed under the authority of the chief executive.
- The committee must follow the mission and values of the organization.
- The committee members must be a REALTOR® and Affiliate member of the South Bend Area REALTORS®.
- Committee Chair may serve as Past Chair the following year for consistency.
- The committee cannot have a meeting without a quorum of committee members present.
- Members are encouraged to attend all meetings, to arrive on time and stay for the duration of meetings. If a situation requires their departure, the member will be recorded as absent if not in attendance for at least 1/2 of the meeting.
- All members subject to censure or removal at the direction of the Board of Directors.
- The Committee Chair can recommend appoint a task force or Subcommittee be dissolved once it is determined that the project is complete.