The Finance Committee reviews the association’s finances on an ongoing basis and makes related recommendations to the delegates at the ASWB Annual Meeting of the Delegate Assembly.
Brian Philson, chair
Denese Espeut (BC)
Jaime Hoyle (VA)
Roxroy Reid (NM)
Jeffrey Trant (MA)
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 customarily meets in person once a year in April in Culpeper, Virginia, at the ASWB office. This is a one-day meeting held on a 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.
The following skills and/or characteristics are helpful in completing the work of the Finance Committee:
- Understanding of nonprofit 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
- Joining a committee
Most committee members are appointed by the president and approved by the Board of Directors at its first meeting of the calendar year. Anyone who serves on an ASWB member board or is staff to an ASWB member board is eligible to serve on a committee.