The finance committee chair's responsibility is to monitor the honor society’s financial procedures and status, oversee the budget process and performance, review honor society finance policies and procedures, ensure participation of the committee during the selection of an auditor and assist and oversee the treasurer as needed.
- Oversees the monitoring of the honor society's financial procedures and status.
- Manages the preparation of an annual budget and submits the proposed budget to the developing honor society board of directors.
- Oversees the monitoring of the honor society's budget performance on a regular basis, and analyzes variances in expense and revenue from expected performance.
- Ensures committee participation in the selection of an auditor, reviews the audit report and recommends any corrective action required.
- At the discretion of the board of directors, may oversee the committee's function as an internal audit committee.
- When needed, ensures direct assistance to the treasurer in financial management functions.
- Develop and maintain policies and procedures related to the position of finance chair. Submit modifications or new policies and procedures to the board of directors for approval.