Mission Statement
TrailMark Finance Committee
Purpose:
The Finance Committee is responsible for assisting in the development and review of fiscal procedures and the annual budget in conjunction with the Management Company and the Board of Directors.
• Review the financial statements for irregularities and explain any material deviations from the budget projections.
• Advise the Board of Directors, as needed and at their request, as to financial aspects of any contract for which homeowners have to pay.
• Recommend investment options to the Board of Directors.
Authority/Responsibilities:
The Finance Committee assists and advises the Board of Directors and the management company with all matters concerning fiscal issues.
Authority/Limitations:
Term:
There is no expressed term of service length for Finance Committee members. Each serves at the discretion of the TrailMark HOA Board and may choose to leave at any time, or may be removed by the Board at any time.
Number/ Members:
The Finance Committee has no designated requirement for committee size. The committee is comprised of volunteers, who meet periodically, as deemed necessary.
Committee Structure:
The committee has a Chairman, a HOA Board liaison, and volunteer members.
Relationship to Board of Directors:
All members serve at the discretion of the TrailMark HOA Board.
Relationship to Management:
The Finance works closely with, and relies upon, the support of the management company's designated community manager and Finance Department who advises on the annual budget, provides administrative assistance as required, maintains records, and provides periodic updates.
The Finance Committee is responsible for assisting in the development and review of fiscal procedures and the annual budget in conjunction with the Management Company and the Board of Directors.
• Review the financial statements for irregularities and explain any material deviations from the budget projections.
• Advise the Board of Directors, as needed and at their request, as to financial aspects of any contract for which homeowners have to pay.
• Recommend investment options to the Board of Directors.
Authority/Responsibilities:
The Finance Committee assists and advises the Board of Directors and the management company with all matters concerning fiscal issues.
Authority/Limitations:
Term:
There is no expressed term of service length for Finance Committee members. Each serves at the discretion of the TrailMark HOA Board and may choose to leave at any time, or may be removed by the Board at any time.
Number/ Members:
The Finance Committee has no designated requirement for committee size. The committee is comprised of volunteers, who meet periodically, as deemed necessary.
Committee Structure:
The committee has a Chairman, a HOA Board liaison, and volunteer members.
Relationship to Board of Directors:
All members serve at the discretion of the TrailMark HOA Board.
Relationship to Management:
The Finance works closely with, and relies upon, the support of the management company's designated community manager and Finance Department who advises on the annual budget, provides administrative assistance as required, maintains records, and provides periodic updates.
