Committee: Finance

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Meet Your Finance Committee!

The Finance Committee reviews the expenditure of all funds for the organization, ensuring the financial affairs of the organization are current and in compliance with all standard accounting practices.

The Finance Committee works in conjunction with other committees to ensure their financial needs are met.

The Finance Committee reviews investment opportunities and makes recommendations to the Board.

The Finance Committee arranges for an auditing of the INM organizations financial records every three (3) years to insure INM’s financial integrity.

The Finance Committee works closely with the Education Committee to assist in the planning of all the details [date, location, topics, speakers, the agenda, and last but not least – the vendors] for the Free Notary Day Educational Workshop in November; and the Conference Planning Committee to assist in the planning of the details for the Annual Education Conference held every April. This committee provides and maintains the budgets for the income and expenditures of these two high-priority events that INM is pleased to sponsor for its members as well as the Notary in general!

The Finance Committee consists of three members– the Finance Chairperson, the Treasurer, and one other board member (usually the past Treasurer; however, the member must be a board member – so if the past treasurer is no longer seated on the board another board member may be appointed to the seat). The three-seat requirement is to ensure quality assurance of all those whom handle the funds and reporting methods. This arrangement provides a triple check and balance of the processes in place…and as noted above, is again checked by the Auditor brought in every three (3) years.

The Finance Committee meets on an as-needed basis as a lot of the work can be done via email or on the phone. We have many options for our meetings, as follows: In person, via conference call, and via the web on GoToMeeting.

The best part about having a committee structure like this is that the structure demands total oversight of the processes and procedures of the accounting for INM funds. The Finance Committee reports directly to the Executive Committee.

A big thank you goes out to all the past committee members for all their good work over the last couple of years as they have helped to keep our organization solvent.

If you are interested in serving on the Board of Directors’ and on this committee in particular – please contact Member Services at: mike.richard@informednotariesofmaine.org or a member of the Executive Committee – they would be happy to discuss the positions with you!

Contact information of the Officers on the Executive Board can be found on our website at: http://www.informednotariesofmaine.org/about-us/board-of-directors (scroll down the page to the listings for the Executive Officers of the Board).

Your Board looks forward to hearing from you.

 


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The Finance Committee reviews the expenditure of all funds for the organization, ensuring the financial affairs of the organization are current and in compliance with all standard accounting practices. They work in conjunction with other committees to ensure their financial needs are met. They also review investment opportunities and makes recommendations to the Board. They also arrange for an auditing of the INM organizations financial records every three (3) years.