Finance Committee - 1995 Annual Report


Mandate:

The NCF Finance Committee's mandate is as follows:

1.   To provide the NCF Board with an annual financial plan in the form of
     a budget that is consistent with the NCF's strategy, as approved by
     the Board.

2.   To review the financial status of the NCF on a monthly basis and
     provide financial statements to the Board.

3.   To advise the NCF's Board and staff on the feasibility and financial
     risks associated with new proposals, initiatives and staffing issues.

4.   To prepare, negotiate and manage all aspects of staff contracts,
     including renumeration and reporting requirements.

5.   To safeguard the NCF's assets through the acquisition and renewal of
     the necessary insurance policies.

6.   To safeguard the NCF's finances through the institution and
     management of procedures for the handling of NCF finances by NCF
     staff and volunteers.


Members:

The NCF Finance Committee is composed of the following individuals:

Jeff Bossert, Treasurer and Chair
Lisa Donnelly, Executive Director
Rudy Wytenburg, Accountant
Jean Wilmot, Past Treasurer


Processes:

The NCF Finance Committee meets periodically as necessary to review major
financial issues and regularly communicates using the NCF's e-mail and the
telephone.

The NCF's financial statements are maintained using Microsoft Excel
(Spreadsheet program) in Excel 4.0 format.  The financial statements are
translated into a text-based format for presentation on-line on the NCF.


1995 Activities:

The NCF Finance Committee's primary activities during 1995 were as follows
(note that Jean Wilmot served as Treasurer until April of 1995, when Jeff
Bossert began serving as the NCF's Treasurer):

1.   Support of the conduct of the annual audit of the NCF's financial
     statements.

2.   Renewal of staff contracts for the NCF's Executive Director, Director
     of Development, Systems Administrator, and Accountant.

3.   Guidance in the hiring of the NCF's Office Administrator, and Junior
     Systems Administrator.

4.   Renewal of the NCF's Commercial & General Liability Insurance
     covering the NCF's computing facilities at Carleton University, and
     the NCF's Director's Liability Insurance.

5.   Preparation and presentation of the NCF's financial statements on a
     monthly basis to the NCF Board.

6.   Preparation and presentation of the 1996 Draft and Final Budgets to
     the NCF Board. 


Suggestions for 1996:

The NCF Finance Committee plans to work more closely with the NCF's
Director of Development to support the pursuit of donations that will allow
the NCF to meet its strategic objectives, while minimizing the financial
risk to the NCF.


Jeff Bossert, NCF Treasurer, 22 January 1996