Purpose
The Finance Committee is responsible for monitoring the processes of financial planning, management and reporting of the LCRSS.
Offices and Terms
The committee shall consist of a minimum of three members. The LCRSS will appoint a Treasurer from the Board of Directors who will serve as the Chair of the Finance Committee. The Directors will appoint an LCRSS Bookkeeper who will also serve on the Committee. The third member of the Committee will be the League Coordinator. More committee members may be required from time to time, as determined by the workload. Each member of the Committee shall be a member in good standing of a Canadian Reformed Church (CanRC), or a church with whom the CanRC has ecclesiastical fellowship.
- meets a minimum of once per quarter at the discretion of the Committee
- Manages the day-to-day finances and records of the LCRSS
- Prepares the annual budget of the LCRSS in consultation with LCRSS committees
- Prepares year-end annual statements and financial report in cooperation with the LCRSS Accountant (appointed by LCRSS Directors)
- Implements and monitors policies and procedures for the collection and disbursement of LCRSS funds
- Maintains non-profit status on an annual basis
- Reviews insurance requirements and update Directors’ insurance annually
- Sets a calendar of events to ensure committee responsibilities are completed in a timely manner
Treasurer
- Prepare annual LCRSS budget
- Interact with LCRSS committees to establish annual committee budgets
- Identify opportunities to increase financial efficiency and cost-effectiveness
- Interact with LCRSS members for invoicing and other financial matters
- Monitor and implement protocols for expense claims and disbursements of LCRSS funds
- Prepare financial status reports in advance of LCRSS Directors meetings
- Monitor and report expenditures against budget and report on them to the directors
- Review and update LCRSS insurance (e.g., Directors liability insurance) on an annual basis
- Update Not-for-profit status with Corporations Canada annually in December
- Prepare annual calendar of tasks and milestones for the Finance Committee
- Implement and oversee all LCRSS financial policies and procedures
Bookkeeper
- Manage the day-to-day finances of the LCRSS
- Manage LCRSS payroll
- Receive payments from schools and manage disbursements to PV&V for Group Benefits and RRSP
- Deposit incoming funds
- Manage disbursements for expenses incurred by committees of the LCRSS and update against budgets as necessary
- Manage collection of funds and payments for expenses for the annual LCRSS Teachers Convention
- Reconcile bank statements
- Interact with Accountant to finalize annual reviewed year-end statements and financial reports
LCRSS Committee Treasurers
- Provide the annual committee budget to the LCRSS treasurer by October 15th of each year
- Approve committee expenses and send to LCRSS bookkeeper for reimbursement
- Track expense claims against committee budget
Elaine Prinzen (LCRSS Treasurer) –
tr*******@lc***.ca
Henrietta VanderLaan (LCRSS Bookkeeper) –
bo********@lc***.ca
John Wynia (LCRSS Coordinator) –
co*********@lc***.ca
