The Finance Committee (the Committee) is a standing committee of the Chamber that provides assistance to the Chamber Board in fulfilling its fiduciary responsibilities in monitoring the Chamber’s policies and overseeing the integrity of the Chamber’s financial affairs, the investment of Chamber funds, and the allocation of resources. The scope and responsibilities of the Committee include the following with respect to Finance Committee matters:
- Reviews the budgeting and financial planning process and approves the annual budget of the Chamber, which is also subject to review by the full Chamber Board.
- Reviews the pricing strategy discussions that lead to the development of the annual membership fees of the Chamber, which are also approved by the full Chamber Board.
- Reviews the Chamber’s periodic fiscal and governmental reporting of financial information, including internal and external financial statements and of reporting to taxing authorities.
- Reviews and provides guidance to the Chamber regarding its treasury activities, pursuant to which it shall periodically review the Chamber’s principal banking and treasury cash management relationships and the material terms of the Chamber’s credit facilities in light of the Chamber’s operating strategy, risk exposures, financial policies and changes in applicable law or accounting requirements.
- Reviews and approves the investment strategy and asset allocation guidelines for the Chamber’s investments, the establishment of benchmarks to gauge the performance of the Chamber’s investment portfolio, and periodically reviews the performance of the Chamber’s portfolio against its benchmarks and makes recommendations for change, as may be appropriate.
- Reviews with management and makes recommendations to the Chamber Board on matters relating to debt issuance, debt repurchase and the initiation or amendment of any Chamber credit facilities.
- Work with the Chamber management in the engagement of internal and external advisors, legal, financial or otherwise, for advice and assistance.
- Reviews the Chamber’s risk assessment process and the system of controls and measures taken by University management to address and manage risks.
The committee chairs are Jason Pang (email@example.com) & Marty Mickey (MMickey@nl.edu). If you have interest in joining the committee, please contact either Jason Pang or Marty Mickey at their respective emails.