Operating Codes - Finance Director

I. Description

The Finance Director is an appointed, voting member of the Board of Directors.

II. Oversight

The Past President shall oversee the Finance Director.

III. Term

  1. Length: The term of office is up to two years commencing on the day after the annual conference held in odd numbered years.
  2. Limit: The Finance Director may not serve more than two consecutive terms.

III. Reports

The Finance Director shall submit reports to the Secretary 10 days prior to date of each Board Meeting and upon request.

IV. Succession

The Finance Director shall meet with his/her successor as soon as possible and as often as necessary for the new Finance Director to certify that all pertinent committee information has been transferred and any necessary training/consultation has occurred to ensure the new Finance Director can successfully assume responsibilities on the first day of office.

V. Responsibilities

  1. Serve on the Board of Directors. Attend Executive Committee Meetings as requested by the Past President.
  2. Advise the Board of Directors on all financial matters.
  3. Formulate and recommend a balanced budget for consideration by the Board of Directors at the meeting prior to the start of each fiscal year.
  4. Develop an investment policy, review current investments, and establish guidelines to evaluate investment performance.
  5. Make ongoing recommendations in regards to investments. The recommendations shall provide for a maximum amount of income and growth with the minimum amount of investment risk.
  6. Determine feasibility and if necessary recommend policies related to mileage reimbursement and travel reimbursement (hotel, airfare, meals) for Association business.
  7. Recommend policies to the dispersement of funds for grants, scholarships, and other contributions made on behalf of the association.
  8. Determine feasibility and if necessary recommend policies related to payment of substitute teachers for members who find it necessary to act in an official capacity during a school day.
  9. Submit financial reports to the Board of Directors at each Board of Directors meeting and upon request.
  10. Submit an annual report to the Secretary by September 1.
  11. Perform duties as requested by the Past President.
Revised and pending review, February 2017.