Finance Committee

Purpose:

  • To monitor the current year budget and to develop and propose to the Board a budget for the next fiscal year;
  • To prepare, update and monitor long-range financial plans for the school;
  • To oversee, from a policy and planning perspective, business operations of the school;
  • To assist the administration in the implementation of development/institutional advancement programs and efforts.

Responsibilities:

  • To monitor and report to the Board on the status of the current fiscal year budget (monthly, quarterly and annual report) (actual versus projected);
  • To formulate with the president or principal a proposed budget for the upcoming fiscal year. This budget is based on recommendations from all Board committees;
  • To recommend to the Board (and its Policy/Planning Committee) financial policy that ensures sound and consistent financial management and just salaries, fair tuition increases and payment plans;
  • To oversee the school’s endowment, including policies for endowment growth, management and distribution of proceeds;
  • To formulate with the school administration (and the Policy/Planning Committee) policy concerning the business affairs and activities of the school, including such areas of concern as:
    • Bookstore
    • Cafeteria
    • Transportation
    • Outside contractors
    • Purchasing
    • Insurance
    • Rental agreements
    • Contracts;
  • To work with the school administration, development office and business office to ensure publication of a comprehensive annual report;
  • To advise and assist the administration in the design and preparation of a comprehensive development/institutional advancement plan;
  • To serve in a leadership role with the administration and the Board in the implementation of the annual fund drive;
  • To assist the administration and the Board in the implementation of alumni and alumni parent events and activities;
  • To participate in, and provide leadership for, programs of annual and planned giving and periodic capital campaigns;
  • To participate in the identification and solicitation of major donor prospects;
  • To report periodically to the Board on development/institutional advancement activities;
  • To recommend to the Board (and its Policy/Planning Committee) policies in the area of development/institutional advancement;
  • To support the school’s Development Director.

Members:

  • Dennis Theis, Chair
  • Jeff Fineis
  • Renee Fischman
  • Dominic Iocco
  • Jeri Jensen
  • Craig Thiel