Committee Purpose
• To provide prudent financial oversight for KCR:
.  o Ensure that there are sufficient funds for the Station to fulfil its mandate through the conscious balancing of quality of delivered programming to the out-of-pocket cost to produce it
.  o Ensure adequate and organizationally appropriate financial control procedures exist and are followed
.  o Ensure financial transparency to all members and associated external organizations
• To fulfil membership reporting and transparency obligations
• To fulfil legislative and regulatory reporting and financial control requirements

Committee Composition
• The Treasurer must be a Director
• Ideally one other Director will serve on this committee
• The Administration Manager
• There should be 3 to 5 total members (including directors) who are not Staff.
.  o All should have a keen interest in money management, however varying levels of skill are desirable in order to fulfil the co-operative principle of Education.
.  o Some skill or background in using the currently in use accounting software is desirable in at least one member other than the Treasurer and the Admin Manager

• Members’ attitudes could ideally be spread across the spectrum from fiscal conservatism to freer spending and risk taking, thereby striking a balance between responsible constraint and the recognition of and action on time sensitive opportunities
• The Finance Committee is a Governance Committee, and as such, all resolutions and recommendations approved by this committee must subsequently be approved by the Board before they take effect

Committee Function
• To hold regular committee meetings to conduct committee business
• Guide the Board and KCR Organization through the fiscal year as follows, using the AGM as the starting point, and recognizing the fiscal year begins July 1 each year:
.  o Educate the new Directors, and refresh returning Directors, with an introduction to the yearly fiscal cycle at the first Board meeting
.  o At every subsequent Board meeting, report current financial conditions and highlight and explain any exceptional monetary events or milestones
.  o Prepare the budget following the currently approved Budget Preparation Guidelines
.  o Assist the Administration Manager in preparing the financial package ending June 30, to be sent to the external Accounting firm.
.  o Summarize the previous fiscal year for the Annual General Meeting
• Facilitate one to three surprise mini-audits throughout the year.
• Provide pro-active guidance to improve cash handling procedures and cashflow management
• Assist with the monthly banking cycle of transaction entry, bank reconciliation, and report preparation.
• Provide continuity in the event of Staff reassignment by maintaining current knowledge of KCR’s financial condition.

Chair / Treasurer Responsibilities
• The chair of this committee is responsible for developing or delegating the preparation of a meeting agenda with council from committee members and Staff
• For each meeting, the chair or a suitable substitute is responsible for starting on time, managing the meeting proceedings, ensuring good order throughout and executing a timely adjournment.

Reporting
• Minutes will be published to the currently accepted channels, including paper, email, and web
• The Treasurer and / or the Administration Manager is responsible for ensuring that each important issue and outstanding important decision is taken to the Board, or the Staff, as appropriate, in writing, and that these requested decisions are made and documented and that appropriate actions are taken by the Board, Staff or Volunteers
• Prepare a summary of the year’s projects for the Annual General Meeting