2019 Maryland Nurses Association Annual Convention

2019 Maryland Nurses Association
MARYLAND NURSES ASSOCIATION
MNA Committee on Finance
Treasurer’s Report to the Board of Directors
September 30, 2018 - September 30, 2019
Chair and MNA Treasurer:
Members at Large:
District Treasurers:
Mary Jean Schumann, DNP, MBA, RN, CPNP-PC,
FAAN
Barbara Biedrzycki, PhD, RN, MSN, CRNP,
AOCNP(R)
Sandra Logorda, BS, BA
District 1 – Renate Brown, RN
District 2 – Linda Hickman, PhD, MBA, RN, FACHE
District 3 – Deanna Leone, BSN, RN-BC
District 4 – Vacant
District 5 – Vacant
District 7 – Bijoy Mahanti, RN
District 8 – Vacant
District 9 – Kathy Miller, RNC, BSN
Mary Jean Schumann
Purpose: To assure that the financial management of the Association supports MNA’s long term
sustainability, the Committee reviews and recommends fiscal practices and investment strategies
consistent with current accounting and management principles and standards; provides ongoing
oversight and assessment of the organization’s finances; and assures the financial management of
Districts through leadership, education, and stewardship.
During the past 12 months, the COF has convened monthly or bimonthly by conference call or
electronic meetings to review financial statements of accounts and investments.
In addition, the Committee on Finance has engaged in the following activities on behalf of the
Association:
1) Completion of a professional audit of the Association’s finances. The Auditors Report and the
Management Letter were completed and on record as of March, 2019.
2) Completion and timely filing of the MNA 990 tax report for Fiscal Year 2017-2018.
3) Completion of a review and revision of the following fiscal policies:
a. Investment Policy (7-0006)
b. Internal Revenue Service Filings (7-0007)
c. MNA Management of a District’s Treasury (7-0011)
4) Development and recommendation to the Board of Directors of a new policy on document
retention and disposal (7-0013)
5) Reviewed, revised and voted to recommend to the MNA Board the Annual 2019-2020 Budget
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