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Finance Committee MANDATE of
trustees
Date
February 2003
Name of Committee
Finance
Mandated By
Board of Trustees.
Mission
To provide leadership and guidance to the financial administration of
the School and to the Board of Trustees such that the School operates in a
fiscally responsible manner, supporting both Program and Facilities/Capital and
strategic goals.
Authority & Responsibility
- To develop annual operating budget and recommend to Board for
approval
- To monitor actual performance compared to budget, highlight and anticipate
materially adverse financial events in a timely manner to Board, along with
recommendations to compensate for impact of such events
- To provide support and guidance to School's Finance and Accounting office and
related personnel
- To assist in the evaluation of Administration Accounting/Finance employees
Individual(s) Receiving Mandate (or Composition/Selection
Process)
- Board elects Treasurer and, if different, Committee Chairperson*
- Faculty chooses one member to participate
- One representative is selected from Administration
- Others selected from Community by above Committee members
Term: 2-year standard term; Treasurer chosen after 1 year on Committee with goal
of having him/her return to Committee after completing term as Treasurer.
* The committee will develop a job description for Treasurer and committee
Chairperson by 4/03 for approval by the Board.
Chair or Reporting Individual of Mandate Group
Treasurer
Time and Frequency of Meeting
1 regularly scheduled meeting per month, plus additional meetings
and/or teleconferences, as requested by Committee Chair or Treasurer
Resources Allocated to Enable the Committee's Work
Support of outside accounting firm (Ann Skalka)
Group Receiving Reports and Responsible for Review of the
Committee
Board of Trustees.
Frequency of Reporting
Monthly, through meeting minutes or reports.
Approved by the Board of Trustees of Waldorf School of Princeton on February
2003.
For the Board: __________________________________________________Date:
___________
For the Mandating Group: ________________________________________Date:
___________
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