Who We Are
The VVA Finance Committee shall provide oversight of the financial activities of the Corporation, the State, or Chapter and shall recommend policies on financial matters to include, but not limited to, assisting and consulting with the Treasurer on all financial planning, budgeting, reporting and other related matters. (Appendix II to the VVA Constitution – paragraph I.)
The Finance Committee shall serve to advise the President and the Board of Directors as to financial matters and to perform such other duties as the President and Board of Directors shall from time to time assign to it. (VVA Constitution, Article 1, Section 7 – Committees, para B.)
The duties of the Finance Committee, as defined above, do NOT include oversight of the national staff, personnel policy matters, staff evaluations, etc. These functions fall under the duties of the VVA President who “…shall be the principal executive officer of the Corporation and shall, in general, supervise and control all the business and affairs of the Corporation.” (VVA Constitution, Article 1, Section 5 – Officers, para D.)
While it is agreed that the Finance Committee shall advise and recommend policies relative to financial matters that may affect the other VVA committees, this “advice and recommendation” does not extend to policy issues, which are “germane to (the committee) their areas of subject matter jurisdiction.”
To recap the above, the VVA Finance Committee shall provide oversight of the financial activities of the Corporation; shall recommend policies on financial matters; and shall serve to advise the President and the Board of Directors. The committee shall not direct activities or set policies.
BY NED FOOTE, CHAIR
The Finance Committee's job is to help VVA achieve its goals with proper funding within expected revenue. Every March each committee, department, officer, and director must submit a budget request with an explanatory narrative. Usually, requests exceed our projected revenue.
Last year we had to cut more than $1 million in proposed expenses. We did this during a very long budget meeting. We recommended a balanced budget to the BOD in April, which they passed. Some moaned about the cuts, but over the year we did not see anyone unable to accomplish their goals. In fact, we expect to see that some have not used what was awarded them. All should be commended on holding down expenses. We try to work with committees throughout the year with funding shortfalls, and they are reminded when it looks like they will go over their budgets.
We are in the midst of the budget process now with an excess of proposed expenses versus expected revenue. As our organization gets older, some revenue goes down. We are no longer the new kids on the block, and some funds that we were getting are now going to the newest veterans. So we have to be more creative in the budget process, and we need to know what our priorities are.
VVA ANNUAL RePORTS