Finance and Resource Committee

The Finance and Resource Committee advises the Treasurer on financial policies and reviews budgetary activities.

Vision/Mission Statement

To advise the Treasurer on policies to maintain the financial health of the society, review policies that influence EMGS financial health, provide for transparency to the EMGS members on all budgetary activities and to develop proposals for incentives to motivate enhanced corporate sponsorship.

Committee Composition

It is recommended that the Treasurer serve on this committee after leaving office and that there be at least one former Treasurer on the committee at all times. Committee should include members with corporate contacts to help facilitate support for programs.

EMGS members can view a current Committee roster via EMGS Connect.

Business Office Interaction

The Business Office maintains the official financial documents.

Charges

  1. Obtain quarterly financial reports from the Treasurer and review the Society’s financial status. Report the results of this quarterly review to the president at least twice each year, preceding the interim Executive Board meeting and at the first Council meeting preceding the Annual Meeting. Include recommendations about the adequacy of the Society’s financial condition and any need for corrective action.
  2. Oversee the budgetary activities of the Society and serve in an advisory capacity to the Treasurer.
  3. Make recommendations to the President and Executive Board concerning possible improvements in the Society’s financial status, particularly with respect to suggestions for investing the Society's assets.
  4. Interact with EMGS business office and President to maximize income.
  5. Review policy for sponsors and sustaining membership and make recommendation to Executive Board. Includes identifying recognition desired by the organizations.

Standard Operating Procedures

  1. Prepare report for Council and Executive Board Meetings–two reports a year.
  2. Submit requests for consideration in budget for following fiscal year in March.
  3. Prepare article for newsletter two times a year.

Current Year Initiatives

Address Charge 5. It has become increasing difficult to obtain corporate funding for the Annual Meeting and EMGS needs to revise their sponsorship opportunities to remain competitive. To successfully do this, we need to know what corporations want in exchange for support. Based on data gathered by this Committee from several corporations, the Executive Board would like recommendations for new sponsorship opportunities and perhaps enhancements to our sustaining membership offerings.