Mel Harrington (SD), chair, board liaison
Carole Bryant (SK)
Harold Dean (AR)
Jacqueline Lowe (SC)
Jim Marks (OK)
Who is involved
Five committee members, three Executive Management staff, and the Director of Finance & Administration
Description in bylaws
There shall be five members on the Finance Committee. The President-Elect or the Immediate Past President shall be a member of the committee, with the Treasurer as chairperson. The President shall appoint three other persons as members of the committee, after receiving input and approval from the Board of Directors. The composition and tenure of the three appointed members shall be determined by the President. The Finance Committee shall advise the Board of Directors on issues related to the use of the association’s assets to assure prudence and integrity of fiscal management and responsiveness to member boards’ needs. The Finance Committee shall recommend financial policies which provide guidelines for fiscal management, and shall review and revise financial forecast assumptions.
The Finance Committee is charged with the following on an ongoing basis:
- Reviewing association finances and budgets to assure prudence and integrity of fiscal management, and responsiveness to the needs of member boards.
- Recommending financial policies that provide guidelines for fiscal management.
The following skills and/or characteristics are helpful in completing the work of the Finance Committee:
- Understanding of non-profit financial practices
- Experience in administrative leadership in a nonprofit organization or association
- Keen interest in financial responsibilities of nonprofits
- Understanding of investments and the steadiness to tolerate moderate risk in investment policies
- Familiarity with ASWB and governance processes
The Finance Committee meets in person once a year in April, in Culpeper, Virginia, at the ASWB office. This is a one-day meeting held on Saturday. Generally, committee members arrive on Friday evening and carpool together from the airport to Culpeper. After the meeting Saturday, the committee carpools to a hotel near the airport so that they can depart early on Sunday. In-person meeting attendance is fully funded by ASWB. An additional three to five conference calls or virtual meetings can be expected throughout the year to review investments, audits, and the proposed budget for the upcoming year.