NORTHGATE FINANCIAL COMMITTEE

March 2010 Financial Committee Update

We still have not received any applications for community volunteers for this important committee.

Please review last month's information which included the requirements method of application. We must have CPA's somewhere in the community that want to help out by volunteering.

At this time Bob Gottlieb is still filling in for us on a non-committee volunteer.

January 2010
This important committee is responsible for making recommendations to the Board regarding the financial well being of the community. This will be in terms of budget compliance, fiduciary controls, expenditure procedures and controls, expense monitoring.

 

The Board has the ultimate fiduciary responsibility to properly control several hundred thousand dollars of your money each and every year. It will be the charter of this committee to provide the Board with updated financial reports and procedural recommendations to ensure that every cent is properly accounted for and that “best practices” are in place at all times. “Best Practices” might include any or all of the following:

Financial reports
Budget preparation
Budget variance reporting
Expenditure evaluation and impact on the approved budget
Recommended budget adjustments based on cash positions
Methods of obtaining quotes
Loan repayment alternatives
Loan alternatives
Proposed project cost and financial impact analysis
Etc

If you would like to be considered for this Committee please submit your name, unit number and contact information to northgatenews.net@gmail.com. For this position we also need you to submit either a resume or quick outline of your qualifications to be part of this committee. As I mentioned, there is several hundred thousand dollars associated with this committee and the recommendations being made to the Board. I am sure everyone will understand why certain qualifications are required for this committee.

Northgate has a long and great history of being fiscally run as an honest and properly controlled community. Your new Board is committed to ensure that this history is not only maintained but also improved upon where possible. This Committee should be one of those improvements.