LCA-DFW Finance Committee

 

We believe that for people to trust and invest in our community association, the officers of the association must earn the distinction of full adherence to fiscal discipline, openness and accountability. To this end, we assure you that with the caliber of people in our administration, our financial activities and reports will be clear and transparent. We promise to develop financial policies and procedures that will ensure total accountability under an atmosphere of transparency.

The purpose of the LCA-DFW Finance Committee is to assume total responsibility for the finances of the organization. This shall include developing and monitoring the organization budget/ financial recording and reporting, disbursement, investment planning, and auditing of records.

 

The LCA-DFW Finance Committee shall consist of at least five persons including Treasurer as chairman, President, financial secretary, member for budget, member for audit, Member for Ways & Means. This committee will meet quarterly or as necessary to fulfill the statement of purpose

The Finance Committee will review planned spending and monitor actual expenditures for any project directed by the Executive committee. The Committee will recommend options for financial matters related to the function, management, enhancement and maintenance for the services and/or facilities of the Community Association, for the best use and enjoyment of the association members. The Committee will analyze actual and planned expenditures and identify economic implications and financial options for use by the Executive Committee in making decisions. All Committee recommendations are subject to approval by the Executive Committee of LCA-DFW. In short, these will be the basic responsibilities of the LCA-DFW Finance Committee:

• Review revenues and expenses at a monthly Committee meeting.

2. Ensure that organizational funds are spent appropriately.

 

3. Develop an investment strategy. 4. Ensure the preparation of an annual audit, tax form (990), and audited Financial Statements.

 

 

 

Finance Disbursement

 

To: All Committee Heads and Executive Members, LCA-DFW

From: Nathaniel Akoi Goun, Treasurer, LCA-DFW

 

CC; Stanley A. Gaye, President, Miatta Dennis, Vice President, Henry Crayton, Chaplin, Tommy Tray, Secretary

 

Date: July 10, 2014

 

 

 

 

 

Subject: LCA-DFW Check Request Process

 

On behalf of the executive committee, I would first of all like to apologize to all the hardworking members who may have one way or the other being inconvenience by the delay in the process of funds or reimbursements for LCA-DFW sponsored activities.

 

In order to ensure that delays are minimized for the smooth disbursements of funds, The LCA-DFW check request form has been created. All members (executive members, Committee heads, etc) seeking for the disbursements of funds for purchases or reimbursements are please follow the guidelines for transparency and accountability and audit trail.  

 

 

• Approval from the President must be obtained on all purchases. Failure to obtain approval may result in purchaser having to incur the expenses.

   

• If item has already been purchased, please attach receipt(s ) to this form.  Otherwise, provide receipt(s ) as soon as possible after purchase.  

   

• Signature of the LCA-DFW president is required on the check Request form (or approval email from LCA-DFW president) before treasurer will issue check.