The Financal Committee plays a crucial role in ensuring financial stability, accountability, and sustainability of HEART. The committee comprises individuals with expertise in finance, accounting, economics, or related fields.
Responsibilities of the committee:
Provide oversight of HEART's financial operations, including budgeting, financial reporting, and investment management. Review and approve the annual budget, ensuring that it aligns with HEART's mission and strategic goals. Offer guidance on investment strategies for HEART's reserves and endowments, with an emphasis on risk management and sustainable growth. Assist in the development of fundraising strategies and financial campaigns to support the non-profit's mission. Recommend and review financial policies and procedures to ensure compliance with legal and ethical standards. Collaborate with the organization's leadership to develop long-term financial plans and assess the financial implications of strategic decisions. Oversee the annual audit process, ensuring transparency, accuracy, and compliance with regulatory requirements.
Having a Financial Committee is essential to manage HEART's finances responsibly, achieve its mission, and maintain the trust of donors and stakeholders. It ensures that financial decisions are made with expertise and in the best interest of the organization's long-term sustainability.
Doug Juday - Committee Chair