Finance Committee

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The Finance Committee member must be a person of proven integrity and experience in handling financial affairs. The Finance Committee Chair does not have to be a professional "numbers" person but good judgment, logic, curiosity, and a commitment to accountability and the long-term financial stability of the organization are vital traits. A good Finance Committee member will have, or quickly develop, an understanding of nonprofit financial reporting.

Purpose of the Finance Committee:

The purpose of the Finance Committee is to supervise the receiving, disbursement and accounting of all Post funds; to prepare annual budget recommendations for the Post; to advise the Post on all financial policies. The primary role of the Finance Committee Chair is to serve as the principal liaison between the Finance Committee and the full Executive Committee (EXCOM).

Organizational Structure:
The Finance Committee Chair reports to the EXCOM about the financial condition of the organization, and/or any financial irregularities or inefficiencies.

Responsibilities:

• Budgeting and Financial Planning
  • Develop an annual operating budget with Post Officers and/or the EXCOM.
  • Approve the budget.
  • Monitor adherence to the budget.
  • Set long-range financial goals along with funding strategies to achieve them.
  • Develop multi-year operating budgets that integrate strategic plan objectives and initiatives.
  • Present all financial goals and proposals to the EXCOM for approval.
• Reporting
  • Develop useful and readable report formats with Post Officers and/or the EXCOM.
  • Work with Post Officers to develop a list of desired reports noting the level of detail, frequency, deadlines, and recipients of these reports.
  • Work with Post Officers to understand the implications of the reports.
  • Present the financial reports to the EXCOM.
• Internal Controls and Accountability Policies
  • Create, approve, and update (as necessary) policies that help ensure the assets of the organization are protected.
  • Ensure policies and procedures for financial transactions are documented in a manual, and the manual is reviewed annually, and updated as necessary.
  • Ensure approved financial policies and procedures are being followed.

Qualifications:

• Must be able to commit to at least six months of service on the assigned committee.
• Interest in nonprofit work and supporting the needs of our community of veterans and their families.
• Excellent management and organizational skills. Strong attention to detail.
• Strong communication skills.

Preferred:

• Honorably discharged military veteran
• Fundraising/Nonprofit & communications experience.
• Experience in public relations, financial management and/or organizational development a plus.
• Ability to develop and manage budgets and prepare financial reports.