The members of the Finance Committee are the Treasurer, who serves as Chair; the President-Elect; the Secretary; and the AAVMC Liaison to the Association of Public and Land-Grant Universities. The AAVMC Chief Operating Officer serves as assistant treasurer (non-voting).
- Review and recommend to the board for approval an annual budget for the organization in collaboration with the Chief Executive Officer and the Chief Operating Officer.
- Review monthly financial reports as prepared by the Chief Operating Officer.
- Recommend financial policies and procedures.
- Meet quarterly by conference call to review AAVMC financials and receive updates from Chief Executive Officer and Chief Operating Officer.
- Meet face-to-face at AAVMC Annual Conference, as needed.
- Serve as a resource to Chief Executive Officer and Chief Operating Officer.
- Review all non-budgeted expenditures over a set dollar amount to be determined by the Board of Directors, and recommend action to the Board.
- Assist the Treasurer in creating quarterly and annual reports to the Board and Assembly.
- Monitor AAVMC reserves and receive notice of all account transactions.
- Monitor revenue streams.
- Annually review member dues structures and make recommendations for increases to the Board.
- Arrange for an annual audit with submission of same to the Board.
- Ensure the appropriate response to audit findings.
- Annually evaluate its work as a committee and the objectives it has committed itself to and report on same to the Board of Directors.