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About the Finance Committee

Finance Committee
Committee Action Plan (CAP)
Revised November 1, 2007*

Who We Are
The Finance Committee reviews and advises the Board annually and on an as-needed basis, and is available to support the Treasurer on financial aspects of the operation of the Society and its financial planning for the future. The Committee also establishes broad policy guidelines relating to the Society's budgets, target levels of capital, working capital and borrowings, investments and financial performance criteria.

What We Do
The Committee reports to the Executive Committee of the Board of Directors. Tasks may include general financial oversight and annual budgeting, identifying revenue sources and opportunities, analyzing borrowing needs and sources, and periodic development of investment policies and supervision of their implementation.

Sources and uses of financing the Society's operations are monitored and evaluated, including:

The adequacy of dues levels and other fee arrangements,

The adequacy of working capital,

Meeting short, medium and long-term funding requirements, including reviewing the need for interest bearing debt,

Funding commitments in general,

Funding commitments to the Benevolent Fund,

Funding commitments to the FAE, and

Operations of The CPA Journal and other publications.

The Committee also evaluates and makes recommendations regarding investment policies, including:

The performance and return on invested funds,

The investment status of funds in conformity with the Society's Investment Guidelines, and

The performance of investment advisor(s).

Who Should Join
Society leadership with substantial committee or chapter experience.

Benefits of Committee Membership
being part of maintaining a financially sound organization to represent the members of the New York State Society of CPAs.

*Tentatively Approved at 11/14/07 Executive Committee (EC) Meeting subject to Finance Committee approval of EC revisions. Approved by the Finance Committee on 1/10/08.