Appointed by: By-Laws of Coronado Yacht Club
Reports to: Board of Directors (CYC)
Duties and responsibilities:
As in accordance with the By-Laws of CYC the Vice-Commodore shall chair the Finance Committee to provide the Board of Directors with recommendations and advice on the financial matters of the Club. The Committee shall meet on the Monday before the Board Meeting of every month. The Committee shall consist of a minimum of five (5) Flag members appointed by the Board of Directors with the recommendation of the Vice-Commodore. The Treasurer shall be an ex-officio member and provide financial data as requested by the Committee. At least two (2) members shall be carried over from the prior year.
The responsibilities of the Finance Commmittee are as follows:
1) With the assistance of the General Manager and assigned staff, to prepare and submit an annual budget for CYC for consideration of the Board of Directors, beginning the process no later than June of each year.
2) Provide advice on requests for funds not budgeted provided the requested funds are being provided from member dues or initiation fees, and are not donations to specific organizations or funds such as the Junior Capital Improvement Fund. All funds outside the purview of the Finance Committee are the responsibility of the specific organization or committee with the overview of the Board of Directors.
3) Make recommendations, through the Investment Sub-Committee, concerning investment of Club funds.
4) Make recommendations concerning changes in dues, slip rents and initiation fees; doing so annually in time to be reviewed by the Board of Directors and included in the agenda for the Semi-Annual membership meeting.
5) Devise financial plans to suppport capital improvement items in the CYC master plan, which is maintained by the CYC Planning Committee.
6) Undertake and perform other such tasks that may be referred to the Committee by the Board of Directors.
"Ex officio" is a Latin term meaning "by virtue of office or position." Ex-officio members of boards and committees, therefore, are persons who are members by virtue of some other office or position that they hold. For example, if the bylaws of an organization provide for a Committee on Finance consisting of the treasurer and three other members appointed by the president, the treasurer is said to be an ex-officio member of the finance committee, since he or she is automatically a member of that committee by virtue of the fact that he or she holds the office of treasurer. Without exception, ex-officio members of boards and committees have exactly the same rights and privileges as do all other members, including, of course, the right to vote.
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