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Charge
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This committee monitors the Society’s fiscal policies and financial planning and advises the Board in support of maintaining a sound financial position for the Society.
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Group Type
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Committee
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Sponsor
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Executive Board
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Goals/Responsibilities
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- Analyze proposed budgets in line with the Society’s strategic objectives.
- Support the Society Treasurer in evaluating economic changes that may affect the financial condition or operations of the Society.
- Oversee the assets of the ISA Foundation.
- Monitor the investment of the Society's reserve funds.
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Composition
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8-11 professional members representing a diversity consistent with Society’s policies and values, as well as up to 2 non-members. Society Treasurer serves as Chair. Geographic and Technical Assembly may appoint one ex-officio member.
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Selection/ Appointment
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Appointed by the Executive Board upon recommendation from the outgoing committee.
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Term
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Terms coincide with Society operating year. Member terms are one-year, renewable up to three consecutive years.
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Expected Commitment
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2-4 hours per month
The committee will host virtual discussions, documents, notes and resources on their ISA Connect community.
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Roles and Authorities
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Makes Recommendations to the Executive Board
- Society’s annual and capital budget and any proposed modifications
- Fiscal policies
- Audit schedule
- Charitable contributions matching funds
- Selection of professional investment manager
- Investment guidelines including acceptable types of investments, acceptable risks, and relative distribution of funds
Monitors
- Auditing procedures
- Financial statements
- Reserves and cash balances
- Performance of professional investment manager
- Performance of investment portfolio
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