Finance Committee Charter- For Board Review

Looks good. Perhaps we can delineate the prerequisite of "finance knowledge" a bit more.

Does the current Finance Task Force have continued salience?
Agree with Aimee that more specificity about "finance knowledge" would be helpful. Are there many members with finance / business / other relevant backgrounds or degrees that could meet this requirement?

Thank you for the comments! I conferred with the key author of the Charter and have the following thoughts / reply:

We aren't sure how best to define “finance knowledge”. Thought maybe just leave it up to the prospective member's own assessment. Open to suggestions as to how to define this.

I do think there will be a fair number of members with relevant backgrounds / training, either through formal degrees, additional training (e.g. Harvard short courses) or professional role (e.g. Department or Division Chair)

Thank you Sue.
Thank you all for your comments.

Michael, since I role off this year, my thought was to have the current team stay on for another year and thus the transition of the members will be on the off year for the treasure ( ie the year the treasure doesn't change).
your thoughts? if you agree then I can present that to the exec once this charter is approved
thank you
adnan

In terms of defining finance knowledge, maybe something like, "Members should have a basic financial background including budget forecasting and management, fundraising, interpretation of financial statements, and experience with strategic initiatives to improve an organization's financial performance." Happy to support Adnan's transition plan.

It states the committee would meet quarterly, 3 via teleconference and once at SEW. Why does this committee not meet in person at ACS like others?

Jesse
The reason we don’t meet at the American College of surgeons is because the committee has to meet in the weeks prior to the ‘ACS so that we can provide a report and recommendations for the board which meets at the ‘ACS. Thus meeting at the ‘ACS would be extra and within two or three weeks of our teleconference meeting with everyone in the committee including the advisor.
Hope this explains it.
Happy to expand
Thank you
Adnan