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DESCRIPTION OF POSITION:
An FMC member is responsible for providing assistance and guidance to the Treasurer in oversight of the Council’s fiscal matters. The FMC supports the Board with all financial activities. Responsibilities include developing long-range financial plans for the Council; reviewing the annual budget and making recommendations to the Board; assisting and working with the Regional Treasurers; recommending to the Board an individual(s) to perform the annual audit and performing other functions as assigned by the Treasurer or Board. The FMC is chaired by the Treasurer and shall consist of the following members: the incoming-treasurer or the immediate past treasurer; and at least three at-large members.
2-year appointment, the members will have staggering terms
Function of Position - The FMC is responsible for assisting the Treasurer in oversight of the Council's fiscal matters; developing long-range financial plans for the Council; reviewing the annual budget and making recommendations to the Board; assisting and working with the regional treasurers; and recommending to the Board an individual(s) to perform the annual audit and performing other functions as assigned by the Treasurer or Board.
Essential Duties and Responsibilities & % Time Devoted - The committee will meet in-person at least 2 times annually to complete the following: review the budget, select auditor, review financial statements, review the annual investment performance and complete other committee assignments. The committee will conduct the majority of their activities by using e-mail listserv and conference calls. Calls are monthly and ad-hoc as needed, normally one hour in duration. Additional assignments may be given for completion between calls. Expect a minimum commitment of two hours per month in addition to two in-person meetings per year.
Knowledge and/or Skills -The member is required to have knowledge in various fiscal activities in addition to an understanding of NCURA and its programs. A minimum of 5 years NCURA membership is also required.
Education and/or Experience –Financial experience is mandatory to perform required tasks. Experience with investments, developing budgets or financial management issues is required. Accounting, Finance, or Economics degree or 5 years experience in related field is expected. A CPA and/or MBA are preferred qualifications.