Committee Mandate

The Finance Committee assists the Treasurer in the performance of his or her duties and undertakes to analyze specific issues in relation to the Society's finances and make recommendations to the Board. In recent years the Finance Committee has been involved with:

• the Society's Investment Policy
• annual budget preparation
• cost of membership calculations
• documentation of financial procedures

Members with an interest or background in finance, accounting, or investments are encouraged to consider serving on the Finance Committee to assist with one or more short-term special projects.

Committee Definition

The Finance Committee will consist of the Society President, Treasurer, 1st Vice-President, 2nd Vice-President, and one other member..

The Finance Committee shall:

1. Prepare the annual budget of the Society for presentation to and adoption by the Board,
2. Administer the special funds of the Society,
3. Arrange investment of moneys of the Society not required for current operations in deposits, or securities authorized for insurance companies under the Canadian and British Insurance Companies Act (Canada), or with an institution insured under the Canadian Deposit Insurance Corporation Act, (Canada), or in such other investments as may be approved by the Board from time to time,
4. Review the annual financial statements of the Society prior to their submission to the Board and recommend the selection of an Auditor to Committee Definition
5. Advise the Treasurer and the Board with respect to the financial affairs of the Society, and
6. Have such other duties as may be prescribed by the Council.