Without the discipline that results from a profit line, many nonprofits fail to behave in a businesslike way. It is the responsibility of the Finance Committee to ensure that the Covenant Partner employs solid business principles and practices. This assures ongoing Financial security and maximizes the number of families that can be housed. The Finance Committee will benefit from having successful business people, including a banker and lawyer, as members.
Ongoing Duties of the Finance Committee include:
- • Working with the Board of Directors and all committees to develop an operating budget
- • Setting up and overseeing a bookkeeping system that will allow for regular reporting to the Board regarding the organization’s financial condition
- • Work with the Board to have annual, independent reviews of the books
- • Develop the mortgage documents for a home build and manage
- • Securing general liability, non-owned and hired auto, builders risk, property, workers compensation and volunteer accident insurance
- • Work with the Construction committee to secure certificates of general liability and workers compensation insurance from subcontractors
If you are interested in participating in this committee, please Contact US.