Member Resources and Services

ARCH Financial Management Committee
Contact: arch-finance@restonarch.org

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ARCH Financial Management: Arch will establish and manage to a conservative annual budget, funding ARCH Member-serving activities within the available revenue. The only currently approved source of ARCH revenue is the Annual Dues paid by the Members. The Board, with the guidance and support of the Finance Committee, will not authorize annual expenditures in excess of available revenue, and ARCH will not accumulate a capital surplus. For each fiscal year, in the Annual Meeting of Members, the Treasurer will present a review of the prior year finances and a proposed annual budget. The Members must agree to and approve the proposed budget, including actions to reconcile any funding shortfalls or surplus. The ARCH Finance Committee (AFC), chaired by the Treasurer, will support these important tasks.

Volunteers are needed to:

1. Support the financial management and budgeting operations of the corporation, including but not limited to;
   
   
2. Posting and reconciling the basic accounting records of the corporation, essentially the posting of receipts and disbursements;
   
   
3. Assist in developing the annual budget and preparing periodic analysis of budget variance;
   
   
4. Review and analyze budget surplus or deficiencies and recommend alternatives to the ARCH Board.
   
   
5. Applicable skills include experience with basic bookkeeping, a working knowledge of Excel or comparable budgeting tools, and/or experience as a financial analyst.

Financial Management Committee Charter
(September 2004)

A standing ARCH Finance Committee appointed by, and accountable to the Board, will provide oversight and support of the ARCH fiscal process. The ARCH Finance Committee shall be comprised of three or more members as determined and appointed annually by the Board, each of whom shall be free from any relationship that, in the opinion of the Board, would interfere with the exercise of his or her independent judgment as a member of the Committee. The Chair of the Finance Committee shall be the ARCH Treasurer.

Arch will establish and manage to a conservative annual budget, funding ARCH Member-serving activities within the available revenue. The only currently approved source of ARCH revenue is the Annual Dues paid by the Members. The Board, with the guidance and support of the Finance Committee, will not authorize annual expenditures in excess of available revenue, and ARCH will not accumulate a capital surplus. For each fiscal year, in the Annual Meeting of Members, the Treasurer will present a review of the prior year finances and a proposed annual budget. The Members must agree to and approve the proposed budget, including actions to reconcile any funding shortfalls or surplus.

The ARCH Finance Committee will be responsible for:

1. Consulting with the President on the ongoing annual budget process of the corporation;
   
   

2. Preparing, making recommendations and analyzing alternatives for the next annual budget submitted to the President and Board for adoption, prior to approval by the Members;
   
   

3. Developing and recommending long range financial objectives for the association;
   
   

4. Review any potential risk exposure and the steps the Board has taken to monitor and control such exposure, including, but not limited to a review of ARCH's insurance coverage.

The ARCH Finance Committee (AFC) will provide oversight and support of the ARCH fiscal process. The Finance Committee shall be comprised of three or more members as determined and appointed annually by the Board, each of whom shall be free from any relationship that, in the opinion of the Board, would interfere with the exercise of his or her independent judgment as a member of the Committee. The Chair of the Finance Committee shall be the ARCH Treasurer.

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