Finance

Committee Charter

Charter

The Finance Committee is established as a standing committee of the PGA West Master Association Board of Directors; shall be advisory to the Board of Directors; and serves at the pleasure of the Board. The Committee Chair shall be the Treasurer of the PGA West Master Association Board of Directors, who shall make periodic reports to the Board about the Committee’s activities.

Mission

The Committee shall, at least monthly, review all financial documents of the Association, including its balance sheet, general ledger, investment reports, check registers and accounts receivable reports; periodically review and approve, prior to disbursement, all accounts payable; authorize all transfers in excess of $10,000, or as otherwise established by law; and make other recommendations to the Board of Directors on other financial matters.

Committee Composition and Term

The Committee shall consist of the Chair; and one (1) member of the Board, as appointed by the Board of Directors. The two (2) committee members so appointed shall comprise the voting authority of the Committee. If a vacancy shall occur on the Committee, the Treasurer is authorized to appoint another member of the Board for the remaining term. The Master Association’s President and General Manager shall serve as an ex-officio members of the Committee.

Committee appointments shall generally be for a period of one (1) year; commencing with their appointment and expiring upon the adjournment of the Master Association’s Annual Membership meeting.

Regular Meetings

The Committee shall meet at least monthly, at times as determined by the Chair.

Quorum and Voting Requirements

Attendance of all members is required to constitute a quorum for conducting all Committee business; and a vote of both members shall constitute the decision of the Committee.

Attendance at Meetings

Attendance is an important part of Committee membership. Members that miss three (3) consecutive meetings, or four (4) meetings within a one year period, shall be removed by from the Committee.

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