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| Finance Committee |
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| Members: |
| Rob Copenhaver
(Chair) |
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| Peter "Rocky" Snawerdt (Vice
Chair) |
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| Purpose: |
| To review and monitor the School’s
financial position and operating results on a current and
timely basis in order to establish and revise policies to
assist in ensuring the financial viability of the School
and the necessary coordination of such efforts with the Abbey. |
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| Responsibilities: |
- To review and recommend the adoption
of a current budget by the Board of Directors that is
consistent with the overall purpose of the Finance Committee
as set forth above.
- To review the monthly financial
statements to identify and address variances against
budget and to assist in the formulation of a plan to
address and/or correct negative budget variances.
- To report to the Board of Directors regarding
significant financial issues or developments and to address
in a clear and concise presentation, identified variances
or exceptions to the expected financial position and
operating results.
- To review and recommend to the Board
of Directors, policies that ensure sound and consistent
fiscal management, the establishment of staff salary
levels that are appropriate and fair in relation to available
resources, the establishment of tuition increases, discount
arrangements and payment plans that are consistently
applied to those that may lack some ability to pay and
that are appropriate and fair to our parents, but don’t
jeopardize the financial viability of the School.
- To review and assist, with support
and input from the President and Business Manager of
the School, in the formulation of policies relating to
those business activities that impact the School, including,
but not limited to, the following:
Food Services
Bookstore
Transportation
Outside contracting
Purchasing
Student Services |
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- To review and assist in the formulation
of policy and plans, with input from the Director of
Development, to actively manage the unrestricted investments,
restricted investments and endowment funds relating to
the School.
- To assist in developing Requests for
Proposals and providing guidance to the Business Manager
in choosing vendors for any product, or service, in excess
of $2500.
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