Finance Committee

Finance Committee

Chaired by Treasurer, providing oversight on all financial matters. Works with external accountants and bookkeeper to review and deliver all fiscal reports, as required to the Board of Directors and membership.


The membership of the Finance Committee shall be comprised of a minimum of three members, two of which must be members of the Board of Directors. The Chair and Vice-Chair must be members of the Board of Directors. The Staff liaison will be the club bookkeeper.

Note: Committee members should possess a sufficient level of financial literacy including accounting, financial management expertise, or other relevant experience.


The goals of the Finance Committee shall be to advise the Board by undertaking financial planning and oversight responsibilities, as well as monitoring, reviewing and providing advisory functions in the areas of external review for Budget and Financial Services.


  1. Review budget submissions and prepare the annual budget, as well as two-year financial outlook (current +2), based on the strategic priorities and financial needs.
  2. Develop internal procedures and controls for financial reporting and budgets.
  3. Review the Finance policies on annual basis.
  4. Review and report on cash flow, investment performance, and profit / loss on a quarterly basis.
  5. Review and approve as appropriate any variances from budget line items which may arise during the year.
  6. Review and report on Evergreen Fund (donor-advised) investment performance, contributions and awards on quarterly basis.
  7. Responsible for monitoring Evergreen investments and ensuring compliance with CMF’s investment policy.
  8. Responsible for monitoring Evergreen investments and making any recommendations on changes for Board approval.
  9. Review and assess the club’s investment provider every two years.
  10. Provide advice on any matter or question relating to financial position.
  11. Be responsible for delivering against additional board agreed priorities.

Jurisdiction: The Committee can make any recommendations with respect to financial operations for approval by the Board.