NCCL Needs You: Finance Committee Membership

Libby MahowaldFeatured, NewsLeave a Comment

NCCL is in need of members who are seeking an opportunity to share your gifts with others within the ministry of lifelong formation in faith, by considering being a member of the NCCL Finance Committee. The NCCL Finance Committee is a consultative council of the Board of Directors and is established for the purpose of advising and assisting the Board and the Executive Director in financial matters.

It is helpful for prospective members to have some basic experience in finance, investments and budgets, however each board member will receive formation for this committee work. The Finance Committee shall be comprised of six to ten voting members drawn from NCCL Membership: up to four from PCL membership and up to four from diocesan directors or staff. Emeritus NCCL members are eligible to serve on the Finance Committee.

The length of term shall be three years, but as we launch the Finance Committee we will stagger the terms: 1/3 for 1 year, 1/3 for two years, 1/3 for three years. Meetings will routinely be scheduled digitally six times a year and will last no longer than two hours.

The finance committee exists to give counsel to the Board of Directors and the Executive Director on the following:

* Review and recommend the annual budget for NCCL

* Review of the financial statements of NCCL

* Review of financial reports submitted to the Board of Directors and/or the Executive Director by other committees of NCCL

* Investment of tangible and intangible property assigned to an endowment

* Modification of the obligations imposed in reserve funds if such obligations cannot be fulfilled

In addition to the requirements found in the Governance Policies and By-Laws, the Board of Directors spearheaded by the Board Treasurer should consider consulting with their finance committee on the following:

* Appointment of auditors

* Appointment of legal counsel

* Employee compensation and benefits

* Insurance and risk management

* Property management

* Investment policies

* Internal controls

* Development (fundraising)—One member of the Development Committee should sit on the Finance Committee as well as the Board Treasurer should sit on the Development Committee.

* Banking arrangements

Contact John Gaffney at jgaffney@dmdiocese.org for more information on this committee or to be vetted for membership on this committee. Thank you for prayerfully discerning this important role in NCCL

Leave a Reply