Current fees and charges: See Chapter 110.
Financial policies: See Chapter 220 et seq.
Setting number of new membership openings: See Chapter 242.
The Finance Committee shall review, and advise and make recommendations to staff and the Board, regarding,
(a) the revenue, expenses and disbursements of the Club, to ensure they are consistent with operating and capital budgets and properly accounted for,
(b) the preparation of annual operating and capital expenditure budgets,
(c) dues, assessments, initiation fees and other charges, to ensure they are sufficient to support the Club,
(d) plans for, and the details of, financing (with debt or otherwise) capital expenditures and operations, to ensure the terms are favorable and do not expose the Club unduly to risk and
(e) financial matters generally.
The Finance Committee shall prepare, with staff, and recommend annual operating and capital budgets to the Board of Trustees for approval.
The annual operating and capital budgets must be approved by the Board of Trustees.
Article VI, Section 3
3/24/20: Amendment rewrote this Section and others to
(i) make the description of the role of each standing committee reflect actual practice and the Board’s intention (informed by input from each committee), and to make the wording of the descriptions more consistent and
(ii) make more minor changes to the description of the composition of committees and the like.
No Club funds shall be disbursed without the authorization of the Board of Trustees.
Article VI, Section 3
The General Manager is authorized to disburse funds in a manner consistent with the operating budget.
1/23/20, 2/25/21, 12/21/22, 3/28/24, 12/5/24: General authorization to disburse funds.
The Treasurer shall be a member of the Finance Committee, with full voting rights.
Article VI, Section 3
1. Meetings. The Finance Committee meets at 5:00 pm on the third Thursday of every month, or at such different or additional times as determined by the Chair.
2. Adoption and Modification. The procedures in Part C may be adopted and modified by resolution of the Finance Committee, so long as they are consistent with the major policies in Part B, other Club rules and policies and any action by the Board of Trustees.
3. Representation on Construction Committees. The Finance Committee would like to embed a member on all construction committees and high spend undertakings.
8/27/15: Finance embed desire noted in Board minutes without action.
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7/28/22: Chapter 252 approved by the Board.