The Finance Committee, which is normally chaired by the Treasurer, oversees the supervision of all records, books of account and the direction of the financial matters of the CCRA. The Committee advises and reports to the Board concerning these matters.
Some of the important functions of this Committee include:
- Review of Quarterly Financial Statements prepared under the supervision of the Treasurer. These statements include a Balance Sheet, an Income and Expense Statement with comparatives and a Fund Balances Report.
- Review of annual operating and capital budgets prior to presentation to the Board.
- Recommend investment strategy for surplus funds.
- Ensure dispatch of the notices of assessment to all residents promptly following the Annual General Meeting.
- All other matters which arise from time to time relating to the financial health of CCRA.
Last updated December 13, 2023