The Finance Committee was established to oversee the finances of the Association, ensuring accurate and complete financial reports and safeguarding the Association's assets.
The Committee is asked to do the following:
- oversee and recommend to the full Board of Directors an annual budget request that reflects the priorities of ATA's strategic and annual plans;
- assess, as necessary, present programs as well as new initiatives for budgetary impact and ensure that proper risk-management provisions are in place;
- examine quarterly reports on expenditures and income and require explanations for those expenditures beyond the budget previously approved by the Board;
- monitor investment performance and recommend changes to the investment strategy as appropriate;
- recommend amendments to financial policies and procedures to ensure adequate internal controls, the use of standard accounting practices, and compliance with federal and state statutes;
- review the annual Association audit and monitor compliance with any management advisory notes; and
- work with ATA Headquarters in the development and presentation of financial information to the Board and to the public.