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Harry Aho
Nadya Andrews
Daryl Clark
Jan Clark |
Earl Corin
LeRoy Gilsdorf Hannah
Goody
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Julie Jerves, Acting Chair Ken Reaves |
Bill Clune
Financial Services Administrator
Marie Vergara
Club Management Resource |
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FINANCIAL AND INVESTMENTS MANAGEMENT COMMITTEE (FIMC)
FINANCIAL &
INVESTMENTS MANAGEMENT COMMITTEE- (FIMC)
This Committee includes the Chief Financial Officer, the Treasurer, a Board
Liaison, a Club Manager, and the Club Accountant, none of whom may serve as the
Chair of the Committee, except in the absence of the Chair. It includes the
Trustees of the Profit-Sharing Plan and other Owners who have some qualified
experience in financial management practices, qualified investments/banking
experience and a working knowledge of generally accepted bookkeeping/accounting
principles, tax reporting/filing and auditing systems.
This Committee is responsible to regularly review all financial reporting
documents, whether generated internally or from contracted external sources, to
confirm that the financial operations of the CDOA are being properly managed and
that required accountability for utilization of financial resources is being
maintained and/or enhanced. This Committee works with the Club Management Team
to develop a timely and comprehensive Annual Budget Proposal that is in
accordance with the financial capabilities of the CDOA, and in conformance with
the overall Goals and Objectives as established by the Board of Directors.
This Committee is responsible for interviewing, screening and recommending the
external CPA resources necessary to properly conduct the Annual Review of CDOA
Financial Operations. Also, the interviewing, screening and recommending of any
external resources involved in the banking, investments, accounting,
bookkeeping, payroll, accounts payable and receivables transactions of the CDOA
may be conducted by this Committee as directed by the Board of Directors from
time to time.
This Committee will evaluate both the internal financial resources of the CDOA,
and the external banking resources, market and legislative factors that may be
influencing the preservation and enhancement of return on investments involving
the current and future capital of the CDOA. They will make timely
recommendations for action by the Board of Directors, either at quarterly
meetings and/or as necessary to capitalize on any appropriate opportunities for
such investments to be improved, inclusive of a continuously updated long-term
plan (5-7 years) for the development of sufficient reserves to achieve the
regulatory required funding of Capital Reserves.
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