FINANCIAL

Goal: Establish annual budget and improve financial reporting.

Goal: Formation of Audit Committee and proposed annual audit.

Responsible Party: Financial Chair

Proposed Action:

1. Establish a financial committee to include three (3) members and treasurer (ex-officio

member).

Have committee members become familiar with QuickBooks software and gain understanding of the accounts and budget.

2. Establish a liquid fund balance.

3. Recommend disposition of funds in excess of liquid fund balance.

4. Establish Annual Budget & Publish Budget figures to Executive Committee Members.

5. Present annual budget at Summer Planning Session.

6. Committees to request necessary operating funds by Memorial Day each year.

7. Maintain Audit Committee as separate standing committee of non-executive committee members.

8. Publish budget figures in a fall newsletter.