Purpose: Oversee the financial health and sustainability of the chamber.
Duties & Responsibilities:
- Develop and monitor the annual budget.
- Ensure Proper financial controls and policies are in place
- Review financial statements and provide reports to the board.
- Assist with fundraising and sponsorship strategies.
- Ensure compliance with tax and regulatory requirements.
- Provide guidance on investment and reserve fund management.
- Evaluate membership dues and fee structures for financial sustainability.
- Review and revise operating procedures to bring for board approval
Authority:
- Approve standard expenditures within the approved budget.
- Make minor reallocations within the budget to address unforeseen expenses or opportunities, provided they do no exceed a $1,000 threshold.
- Enforce established financial policies and procedures without seeking additional board approval.