The functions of the Finance and Budget Committee are to:

• Recommend finance and budget policies for all APA-related entities.
• Assist the Board in development of fiscal policies.
• Help to conduct financial operations in a manner that helps the Board to fulfill its fiduciary responsibilities, to maintain business operations in accordance with generally accepted practices, and to implement the strategic priorities of the Association.
• Assist the Board in development of a financial plan and help ensure that ongoing operations are consistent with that financial plan, as well as the overall business plan, of the Association.
• Review actual financial results and report to the Board as to the fiscal status of the Association.
• Recommend annual operating, capital and development budgets to the Board and major adjustments thereof as may be indicated throughout the year.
• Focus on the long term and short-term financial strength, needs, opportunities, and problems of the Association.
• Oversee APA components relating to finance, including the Investment Oversight Committee.
• Make recommendations to the Board concerning the charges, areas of responsibility, and composition of these financial components.

Term

Two years.

Expected Time Commitment

The Committee meets in June, September, and November for 3–4 hours. Two meetings are virtual; November is in-person. Members should budget one to two hours beforehand to review materials.

Desired Expertise

Volunteers should ideally possess expertise related to finance, accounting, and budgeting.

Responsibilities

Members provide guidance on the budget development process and make recommendations to the Board for the next year’s operating budget. The Committee also monitors adherence to the budget.

Additional Criteria

Passionate volunteers with diversity in backgrounds and business views from varied perspectives and understand the operations of non-profit organizations.