FINANCE COMMITTEE

About Us

The Finance Committee serves as the investment fiduciary responsible for the prudent management of the Investment Portfolio complying with all applicable fiduciary, prudence, and due diligence requirements, along with laws, rules and regulations from various local, state, federal and international governments that may impact the portfolio. It is also responsible for creating and proposing an operating budget for the association to be approved by the Board of Directors. Additionally, the Finance Committee appoints the independent audit firm and provide oversight of internal controls.

Committee Members

Under the leadership of the committee chair, committee members work together to set the agenda and accomplish the charge of the committee, ensuring that the committee proposes sound policies and develops imaginative and viable programmatic proposals.

Charges

1. Create and propose an operating budget for the association to be approved by the Board of Directors on or before January 1^st of each year.
2. Appoint the independent audit firm.
3. Approve and respond to the independent auditor’s report.
4. Ensure the accuracy of financial statements and disclosures.
5. Provide oversight of internal controls.
6. Communicate with the independent auditor on financial issues and policies.
7. Serve as the investment fiduciary responsible for the prudent management of the Investment Portfolio (Portfolio.)
8. Comply with all applicable fiduciary, prudence, and due diligence requirements experienced investment professionals would utilize, and with all applicable laws, rules and regulations from various local, state, federal and international political entities that may impact the Portfolio.
9. Recommend to the board the selection and retention of professional advisors to the Portfolio, which may include, but not be limited to, investment managers, investment consultants, custodians, attorneys, accountants, and clerical staff.
10. Prepare, execute, and maintain an investment policy statement.

Governance

As a trade association governed by a voluntary board of directors, the Electronic Security Association works through its executive staff and various committees and task forces established by the board to fulfill its mission.

To accomplish its policy and governance responsibilities, the board creates committees and charges them with specific areas of responsibility to meet the association’s mission and goals. The executive staff consults with and supports committee programs and activities.

The appropriate role of the committee is to make recommendations to the board concerning policy and new strategies.

Committees provide a venue for members to participate in the life of ESA. Members gain professionally and personally from the contact with colleagues, and future ESA leaders often emerge through committee involvement.

The President shall recommend to the Board of Directors, and the Board of Directors shall establish such committees as are necessary to achieve the objectives of the Association. The President shall appoint the chairperson and members of each committee. Committees may be abolished by action of the Board of Directors. Unless the Board of Directors provides otherwise by resolution, each committee shall conduct its business and take action in the same manner as the Board of Directors conducts its business pursuant to the ESA Articles of Incorporation and Bylaws. Committees shall report to the Board of Directors and to the Members, if so directed, by the submission of the minutes of their meetings and by such other means as are desirable or appropriate. A member of a committee shall have the right to vote on all committee matters regardless of such member’s voting status or lack of status as a Member of the Association.

Meeting Schedule

The Finance Committee meets on the third Thursday after each quarter.

How to Join

Are you interested in joining the Finance Committee? Please contact the committee staff liaison for more information