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APA Finance Committee
APA Finance Committee
Mandate
Responsibilities
Composition
Terms of Membership
Quorum
Process
Technical Advisors
Mandate
The APA Finance Committee shall:
- Supervise the preparation of the Association’s budget, approve the budget and recommend its approval to the Board of Directors;
- Monitor the financial performance of the Association in relation to its budget;
- Monitor compliance in relation to the financial objectives as may be set from time to time by the Board of Directors;
- Review investments and transactions that could adversely affect the well being of the Association;
- Review and approve policies and programs related to liquidity management and capital management;
- Establish such Task Forces as the Finance Committee may deem appropriate from time to time, determine budgets for such Task Forces as may be appropriate, and receive reports and recommendations from such Task Forces;
- Recommend appropriate initiatives to communicate with members;
- Report regularly to the Board;
- Ensure objectivity.
Responsibilities
- To carry out it’s mandate in the interests of the Board of Directors;
- To provide expertise and attention to detail on behalf of the Board of Directors in relation to all matters related to fiscal management;
- To attend all Committee meetings as called. Meetings can either be in person or via teleconference;
- To review, annually, the Terms of Reference and forward recommendations, as required, to the Board of Directors.
Composition
- The Committee will be composed of a minimum of three certificate holders in good standing, the majority of whom shall be Advocis members;
- Staff Liaison shall be the COO or his/her representative;
- Appointment shall be by the Board;
- Chair to be a member of the Board of Directors and will be appointed by the Board.
Terms of Membership
- One year term;
- Absence of three (3) meetings, member’s commitment is to be reviewed.
Quorum
- Majority – Fifty (50) per cent plus one of the total Finance Committee members, present in person or by phone.
Process
- By consensus where possible;
- Any question shall be referred to Robert’s Rules of Order;
- Chair to receive information, agenda and minutes first for approval;
- Agenda and meeting material to be distributed at least 3 working days in advance;
- Chair shall NOT have a vote;
- Any tie will give the Chair a casting vote.
Technical Advisors
- Where necessary in the opinion of the Finance Committee; Technical advisors may sit through one or more meetings.