Duties of the Finance and Budget Committee

The Budget and Finance Committee is chaired by the Treasurer and includes the Past President, President, President-Elect, Secretary, Editor, and one member at large, either from the Board, or a past-Treasurer elected by the Board in December. The Executive Director serves as a non-voting member.

The Executive Director has in the past prepared this budget with the cooperation of the Treasurer of the Society. In the case of either a new Treasurer or Executive Director, a past Treasurer or Executive Director should be consulted for continuity.

It is the duty of the various Committees to submit to the Treasurer a request for annual operating expenses in early September. Prior to the October meeting, the Finance Committee shall review the proposed budget from the Executive Director and the Treasurer and make any changes or additions.

At the October Meeting of the Board, the Finance Committee shall place before the Board the proposed budget of the following administrative year excluding salaries, payroll taxes, and retirement contributions which will be decided by the Board. The Executive Director will provide input on staff members compensation. The Treasurer will obtain from the Society's accountants the Bay Area CPI index and the COL and proposed employer payroll taxes and retirement contribution for different salary scenarios.

During the October Board meeting under Executive Session, the salaries of all staff will be determined so that the Budget can be finalized. If there are disagreements on the budget or if more information is needed, the Board can suspend the vote on the budget until the next meeting. The Proposed budget for the following administrative year is to be approved by the Board of Directors no later than the November Board Meeting.

Monthly review of expenditures of the Society are made for the purpose of maintaining expenditures within the budget. An annual financial review is made of the Society's expenditures. This is performed by an outside agency.

It is the duty of the Finance committee to keep the Board appraised of any reasonable overages and to report such in a timely manner.

The Secretary is required to attend all budget planning sessions held by the incumbent Treasurer.