Find a REALTOR® | Find an Affiliate | Member Login | 303-797-3700 |
Finance Committee

april, 2018

03apr12:00 pm2:00 pmFinance Committee12:00 pm - 2:00 pm MST

Event Details


Type:               Board Committee

Reports to:       Board of Directors

Closed/Open:   Closed 

Purpose: The purpose of the Finance Committee is to provide oversight of the fiscal management and reporting function of the Association.  Responsible for the review and approval of the association’s annual budget, for monitoring its performance to that budget, and making recommendations to the Board of Directors for actions required to achieve the association’s financial goals and objectives. As requested by the Board of Directors and its leadership, the Budget and Finance Committee may be tasked with the responsibility for developing specific financial and investment policy directives for the association, subject to the approval of the Board of Directors.  Annual specification of scope of audit, prior to outside audit, consistent with Board monitoring policy.  Assessment and confirmation of auditor’s independence and recommendation Board for engagement of auditor by no later than June 1 of each year. Assurance that the auditor has unfettered access to organizational management and records.  Review with the independent auditor of any problems encountered performing the audit, of the audited financial statements, and of any management letter provided by the auditor.  To direct work of outside auditors, to use management time as needed for administration support, and to incur costs in the amount approved by the BOD for all matters related to the audit, or the amount approved by the Board.  Committee Meetings are held monthly – scheduled a week prior to the Board of Directors meeting, when possible.

Composition: Chair, Chair-Elect, Treasurer, Vice Chair, and Past Chairman of the Board and up to two other members of the past/current Directors appointed by the Chair.

Term: 1-year term

Chair/Vice Chair: The Treasurer shall serve as Chair (or appointed past/current Director).  There is no Vice-Chair

Qualifications: See Director qualifications as outlined in the SMDRA Policy Manual and Bylaws.

Primary Support: Chief Executive Officer and Accountant.


(Tuesday) 12:00 pm - 2:00 pm