RAPS is currently looking for one or two voting members to serve on the Finance Committee. Qualified candidate should:
- An understanding of generally accepted accounting principles (GAAP), and financial statements.
- Experience preparing, auditing, analyzing, or evaluating financial statements that present a breadth and level of complexity of accounting issues that can reasonably be expected to be raised by the organization’s financial statements, or experience actively supervising (that is, direct involvement with) one or more persons engaged in such activities.
- The ability to assess the general application of such principles and standards in connection with the accounting for estimates, accruals, and reserves.
- An understanding of internal controls and procedures for financial reporting
- An understanding of Finance Committee functions.
- A general understanding of nonprofit financial issues and specific knowledge of the not-for-profit sector in which the organization participates.
Charge:
The Finance Committee provides input and guidance to the Board of Directors in support of the Board’s financial oversight responsibilities. The Committee is chaired by the Secretary/Treasurer.
Composition:
The Finance Committee will be composed of five (5) members including the Board of Directors Treasurer to serve as the Committee Chair; two (2) members of the Board of Directors (the President-Elect, and another member appointed by the Chairman) and two (2) RAPS members selected from the active voting membership.
Length of Service:
The treasurer will serve on the committee throughout his or her tenure on the Board of Directors. Other board members will be appointed annually. The remaining two (2) positions serve a two (2) year term.
Work Approach:
Quarterly meetings via conference &/or electronic meetings to review financial statements, investments, budget development and related issues.
Dedicated Staff Member:
Vice President, Business Operations