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UWSC Finance Committee
Chair: Loyd Bourgeois
This committee provides budgeting leadership, monthly financial oversight and reporting, policy making, and coordination of financial assurance activities for the Board. The committee serves a critical role in assuring that Board Members have the necessary oversight capabilities, information and reports to assure themselves that the funds handled on behalf of UWSC stakeholders are being managed properly at all times. The treasurer of the Board must serve as a member of this team.
The purpose of the Finance Committee is to:
- Oversee the monthly financial reconciliation of accounts
- Develop the format for monthly financial reports and review them monthly before presentation to the board.
- Oversee the selection of an independent certified public accountant to perform the annual audit.
- Review and respond to concerns of the annual audit and management letter.
- Assist in the preparation of the annual budget.
- Develop, periodically review and amend, when necessary, all financial policies of the organization.
- Develop fund investment strategies and track performance.
- Develop annual goals and action plans for improvements.