NCF Finance Committee - 1997 Annual Report

Mandate:

The NCF Finance Committee's mandate is as follows:

-    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. 

-    To review the financial status of the NCF on a monthly basis and
     provide financial statements to the Board. 
   
-    To advise the NCF's Board and staff on the feasibility and financial
     risks associated with new proposals, initiatives and staffing issues. 

-    To prepare, negotiate and manage financial aspects of staff contracts,
     including remuneration. 

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

-    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, Director and Chair of Committee 
    Christopher Cope, Executive Director 
    Rudy Wytenburg, Accountant 
    Jean Wilmot, Past Treasurer, Director

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. 

1997 Activities:

The NCF Finance Committee's primary activities during 1997 were as follows:

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

-    Support in the hiring and management of staff, including contract
     negotiations. 

-    Renewal of the NCF's Director's Liability Insurance. 

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

-    Preparation and presentation of financial forecasts as requested by
     the NCF Board. 

-    Support of the 1998 strategy development process. 

-    Preparation and presentation of the 1998 Draft and Final Budgets to
     the NCF Board. 

Suggestions for 1998:

The NCF Finance Committee will carefully monitor the NCF's financial
position as the membership renewals program is implemented, and will make
recommendations for fundraising or cost-cutting as appropriate. 

Author: Jeff Bossert, bossert@freenet.carleton.ca, 29 January 1998