The Finance Committee receives the proposed draft budget from the Director of Finance, reviews it and recommends appropriate modifications, then recommends it, with comments and advice, for the consideration of the Board of Directors and Council. The Committee reviews the implementation of the budget after four and eight months and recommends any appropriate adjustments as required.
This Committee receives and reviews: the monthly financial statements; the four month and eight month year-end budget projections and variance explanations; reports from the Investment Committee after four and eight months and at year-end; and, the year end budget results and variance explanations.
