Board Member – Finance
|Chair: Appointed by President/Executive Director and other board members
Members: Board Chair or Co-Chairs, Treasurer, President/Executive Director and other board members
Meetings: As needed, generally quarterly
Responsibilities: The committee is responsible for reviewing and providing guidance for the organization's financial matters. Specifically, the committee assures internal controls, independent audit, and financial analysis for the organization. The Finance Committee reviews all financial statements and reports on financial activity to the full Board. Here are the Finance Committee's basic responsibilities:
· Provide direction for the entire Board on fiscal responsibility.
· Regularly review the organization's revenues and expenditures, balance sheet, investments and other matters related to its continued solvency.
· Approve the annual budget and submit it to the full Board for approval.
· Ensure the maintenance of an appropriate capital structure.
· Oversee the maintenance of organizational-wide assets, including prudent management of organizational investments.
· Ensure that organizational funds are spent appropriately (i.e., restricted funds).
· Ensure the preparation of an annual audit, tax form (990), and audited Financial Statements.
· Provide support to staff as needed.
|Full board meets quarterly - second Wednesday of the third month. Committees meet quarterly in the first month. Executive Committee meets quarterly on the first Wednesday of the second month.
|The board and its committees all meet remotely via Zoom. When in person, the full board meets at Metro Housing's offices at 1411 Tremont Street, Boston MA. Committee meetings are held
|1 to 3 hours/month
|We strive for 100% board giving, but have no strict guidelines around financial contributions.
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