San Francisco Bay Branch [SFBB] of the Anthroposophical Society in America [US]
Mandate for the Finance Group
Purpose of the Finance Group:
The purpose of the finance group is to develop, oversee, manage and plan for the financial sustainability of the San Francisco Bay Branch [SFBB]
Composition:
The Finance Group will be chaired by the Treasurer appointed by Branch Council. The group will consist of the Treasurer and Co-treasurer (if there is one) and at least one other member of the Branch Council. Members can include at the recommendation of standing members others outside of Branch Council who will be vetted and authorized for participation by Branch Council. Branch Council retains the right of appointing members of the Communication Group in order to maintain overall coherence of both this mandate and the Branch Branch Council
Responsibilities:
- Overseeing and managing the Branch bank account(s)
- Reporting on a regular basis on the status of the account to the Branch Council
- Developing an annual budget for the Branch
- Determining the finance needs of the Branch work and, in collaboration with the Branch Council, setting fees and or dues when necessary
- Paying accounts payable in a timely manner, including a transparent process for reimbursements to Branch Council members.
- Collecting accounts receivable in a timely manner
- Producing and submitting any reports necessary for compliance with California or Federal corporate or tax compliance
- Overseeing and managing any retained earnings and any investments should they be possible
- Supporting the Branch Council in gathering and accounting for any capital needs
Authorities:
The Group has authority to expend up to amounts budgeted for expenses approved by the Branch Council as it determines is necessary to accomplish the work of the Branch, provided there are adequate funds available. It will seek consent from the Branch Council for any unbudgeted expenditure excluding incidentals under $100 needed to complete an existing assignment or pay an existing invoice which may have increased post budget approval. Such an expenditure will be reported at the next Branch Council meeting.
While it may determine the budget for the Branch, the group requires the consent of the Branch Council in order to approve the budget. The Branch Council will determine in advance of any Finance Group meeting what the Branch priorities are; the Finance Group will report back on what is possible based upon Branch Council priorities.
The Finance Group, through the Treasurer, may sign contracts for occupancy costs or space rentals for programs. At no time should those contracts exceed the financial resources on hand.
Accountability:
The Finance Group will create an annual financial plan for the Branch. The Finance Group will provide at minimum quarterly reports to the Branch Council, including current balances in funds, and expected expenses for the balance of the year. The Finance Group will provide the Branch Council with Profit and Loss Statements as well as Balance Statements that have been reconciled with bank accounts and any outstanding cash. The Finance Group will make an annual financial plan
Review and renewal:
Mandate approved and adopted by consensus of the Branch Council on mm/day/yr
Mandate will be reviewed and renewed one year from this date
The Secretary will keep this Mandate and any suggested changes on file with the minutes and other association records.