- The Finance Committee members are selected by the Area Officers and appointed by the Area Chairperson, ideally no later than the February ACM of the new panel.
- The Finance Committee is composed of the CNIA Treasurer, three current DCMs, and a Past Delegate.
- The Past Delegate serving on the Committee does not have a vote.
- This Committee chooses it own chairperson from the DCMs on the Committee.
- Any proposal of unbudgeted or unanticipatedfinancial impact (more than $300) must be presented to this Committee for consideration. The Committee will pass on its recommendation(s) to the Area Committee and/or Assembly as soon as possible.
- Additional duties of the Finance Committee include:
- Conduct quarterly reviews of treasury reports, including bank statements, and report to Area Assemblies and Area Committee Meetings. Study any financial situation (e.g., taxes) of the Area.
- Assist the Treasurer in developing the annual budget.
- Stress the 7th Tradition and Self-Support in the Area.
BUDGET PREPARATION SCHEDULE
|June – even-numbered years||Treasurer/Finance Committee at ACM||Give Officers and Appointed Chairs estimated budget worksheets for their position.|
|June – odd-numbered years||Estimate Officer and Appointed Chairs expense for next year by using average of last three years.|
|August||Treasurer/Finance Committee at ACM||Present a draft budget for review and discussion. Changes brought to September ACM.|
|September||Treasurer/Finance Committee at ACM||After September ACM, budget with changes published inAccents to be voted on at either Mini-PRAASA or Election Assembly.|
|October/November||Treasurer/Finance Committee present budget to Assembly for approval.||Publish approved budget in December Area Accents.|
|November/December||Treasurer after Election Assembly makes adjustment in mileage based on new officers. Present changes at Winter Assembly.||Presents adjusted budget based on elections to Winter Assembly for approval. This can be done as part of Treasurer’s Report.|
An approved budget, sometimes referred to as spending plan, is in effect until replaced (in whole or in part) by another Assembly-approved action.
The Finance Committee has the discretionary authority to recommend increases to the ACM in budget line items and un-budgeted expenses they deem appropriate. These discretionary increases and expenditures must be approved by a two-thirds (2/3) majority vote of the ACM, and the total of all increases and expenditures cannot exceed five percent (5%) of the approved budget expenditures for the year. This discretionary authority should be used when un-budgeted expenses that must be incurred for the proper conduct of area business arise and when there will be no Area Assembly before the funds have to be expended.