The Board Finance Committee (BFC) is mandated by the By-Laws and focuses on matters of a financial nature or which have potential financial implications for the Fellowship. Specifically, the BFC:
- Reviews and develops budgets – especially the overall budget for Fellowship-Wide Services (F.W.S.) – for each fiscal year and recommends the F.W.S. budget to the BOT for approval
- Regularly reviews financials of F.W.S., requesting clarification, when needed, and recommending adjustments. Once BFC-approved, the financials are presented by the Treasurer to the Board of Trustees (B.O.T.) for approval and dissemination to the Fellowship
- Recommends a detailed report of the financial position and condition of F.W.S. to the Annual Business Conference/Meeting delegates
- Provides approval-before-purchase for a range of expenses requested by the F.W.S. office, including equipment, furniture, office supplies, merchandise and literature inventory kept on-hand, service contracts, and legal and accounting expenses.
- Selects a reviewer, compiler or auditor for recommendation to the B.O.T., and then monitors interaction with the reviewer, compiler or auditor and presents final auditor recommendations to the B.O.T.
- Is involved in selection, review, and negotiation for financial transactions such as leases and insurance
- Monitors and takes actions as necessary from time to time in order to ensure the future health of our Fellowship, especially by growing the Prudent Reserve (the Fellowship’s “rainy day” fund).
Meeting: 90 minutes on the 4th Wednesday of each month at 4:30 p.m. PT/7:30 p.m. ET
