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Approved by the Board of Directors July 2013; Modified by the Board of Directors March 2014
The Finance and Audit Committee shall:
The Finance and Audit Committee also ensures that the organization has an independent audit of its financial statements annually, receives the audit report and any other reports relating to the audit or the assets and reports the auditor’s findings and recommendations to the Board. The annual audit shall be completed within four months of the end of the fiscal year by an independent Certified Public Accountant and presented at the Board Meeting held in conjunction with the convention. This independent CPA will also file all appropriate tax returns including the 990 and 990T. The Finance and Audit Committee and the Executive Committee will be responsible for the management and facilitation of the audit and said auditing entity will report directly to the Finance and Audit Committee and Executive Committee.
The Finance and Audit Committee shall consist of not fewer than five (5) members, of which one will be the current Secretary and the current Treasurer, who shall chair the Committee. The members of the Committee shall serve a four-year term and the President shall appoint the new member(s) rotating out at the annual meeting. For committee members appointed in 2013, terms shall be staggered in such a way as not to require the replacement of more than two members in any future year. The newly elected Secretary shall immediately become a member of the Committee.