| 1. |
The committee shall have five (5) voting
members, of whom the UAD Treasurer will be the Chairman. |
| 2. |
The chairman shall appoint four members with
approval of the UAD Board of Directors, who shall serve until removed by the UAD Treasurer
for cause, or until resignation, death, or until the end of the term of the UAD Treasurer. |
| 3. |
A quorum of the committee shall be three (3). |
| 4. |
The committee shall meet monthly when needed,
and at other times upon call by the UAD Treasurer for consideration of urgent business. |
| 5. |
The committee shall receive referrals of
financial matters from the UAD Board of Directors, determine impact of funding requests on
the financial status of the Association and make recommendations to the UAD Board at its
next meeting. The referrals shall show more details of income and expenses, fund raising
and other (a "budget proposal" if available) that will facilitate
decision-making by the committee. |
| 6. |
The committee shall audit the books of the UAD
Treasurer quarterly and report to the UAD Board its findings. |
| 7. |
The finance committee shall seek grants upon
request. |
| 8. |
The committee will assist the UAD Treasurer in:
- determining appropriate investment strategies for UAD funds;
- authorizing the UAD Treasurer to invest such funds as
determined not needed for immediate operational and business expenses;
- determining whether funds requested are available from UAD
general funds and will not affect funds dedicated, reserved, or allocated to other
purposes;
- determining whether capital expenditures (more than $500.00)
will need UAD Board approval before the UAD Treasurer may expend funds, except that up to
$2,500 has been authorized for the Bookstore to purchase goods without needing prior
approval of the UAD Board;
- determining whether the expenditure of such funds falls within
or without the restraints on a non-profit organization and make recommendations to the UAD
Board. |
| 9. |
The committee will assist the UAD Treasurer in
making financial decisions that are not covered by specific mention in these Guidelines. |
| 10. |
The committee may advise the UAD Board on
financial matters, and may make suggestions to the UAD Board on revising these Guidelines. |
| 11. |
These Guidelines are to be approved by the UAD
Board prior to implementation. |
APPROVED April 10, 2004
|