Finance Committee

 

The Committee shall serve as the financial planning consultant for the Board of Directors for matters relative to:

  • Review and recommend Annual Budgets
  • Financial analysis of monthly financial results
  • Recommend appropriate accounting procedures
  • Work with the independent auditor to obtain the annual audit report
  • Annual review of the adequacy of insurance contracts and review of all contracts
  • Ensure that Association funds are invested in safe, interest bearing Federal Government backed or insured investments
  • Coordinate the valuation of the Association’s physical assets and arrange an audit of the inventory process or a portion thereof at least every three (3) years
  • Coordinate the analysis and recommendations of the Reserve Study and update the Reserve Study as needed
  • Such other duties as requested by the Board of Directors.
The Finance Committee shall coordinate with the additional Board members, the Planning Committee, the Recreation Council and all standing committees to gather information relative to the needs of the resort and requirements and priorities for budgeting in the resort.  Based on the information received, priorities will be assigned, and a budget developed.  A balanced annual budget shall be prepared and submitted to the Board of Directors for review.  If the Committee determines that there needs to be an increase in the homeowner’s assessment, the Committee will include that in their recommendations





 
   
   Documents