Finance Committee Scope of Work
The Finance Committee (the “Committee”) is an advisory committee to the Board of Directors (the “Board”) of the Childhood Arthritis and Rheumatology Research Alliance, a California nonprofit benefit corporation (“CARRA”).
The Committee assists and supports the financial and tax practices of the organization. This includes assisting the Board with updating its fiscal policies and procedures; developing the annual budget; ensuring accurate tracking and analysis of financial performance, trends, and other issues; and assisting the Board with conformance to relevant financial and tax rules and regulations, as well as Board policies.
The Committee makes recommendations to the Board for review and approval.
In addition to other responsibilities which may be assigned from time to time by the Board, the Committee is responsible for:
- Ensuring timely generation and analysis of CARRA’s financial information.
- Proposing an annual budget for review and approval by the Board.
- Reviewing CARRA’s fiscal policies and procedures, including financial procedures such as cash management and record-keeping.
- Monitoring CARRA’s financial objectives and performance.
- Reviewing, prior to execution, any contracts referred to the Committee by the Board.
- Reporting its activities regularly to the Board, including advising the Board of any developments that the Committee believes should have Board consideration.
- Orienting and training new Committee members; instructing Board members how to use and review financial reports.
- Annually reviewing and assessing the Committee’s performance, the adequacy of this Charter, and CARRA’s conformance to relevant financial and tax rules and regulations, and recommending any changes to the Board for approval.
2 years (7/1/21-6/30/23).
Voting members of the who are also members in good standing are eligible to run for this position. A member in good standing meets the following requirements:
- Member is current on membership dues and membership information (location, contact information, and membership status) is up-to-date
- Member participates in at least one Research Committee (e.g. JDM, JIA, Rare Diseases, etc.) of CARRA
- Member has attended at least one annual CARRA meeting over the last 3 year period