GWSA 2020-21 Annual Report

Finance Committee Report
Roger Stevens (Treasurer), Ann Marie Desiderio, Ruth Slavin (Secretary), Wendi Hake, Randy
Taylor, Earlby Wakefield, Joe Freamo
The Finance Committee was established to advise and assist the GWSA Board and the Treasurer
in the development and monitoring of:
● Financial Policies and Procedures of the GWSA
● Financial Operations of all Activities and Services of the GWSA
The Finance Committee met at 1:00 p.m. on the third Thursday of several months throughout the
year; it was not accomplished monthly because of the ongoing pandemic and the lack of
meaningful activities. What meetings we had over Zoom were to discuss Financial Statements
and any other item that needed to be resolved.
In March, the Committee reviewed the 2021/2022 budget and forwarded recommendations to the
Board.
The final Board-approved budget is included in the Annual Report.
The annual budget is a critical tool for the Treasurer and Finance Committee to judge if the
Association is staying on course, ensuring financial health. GWSA’s 40+ activity groups played
a large part in preparing the overall GWSA budget.
Each activity group normally submits their requirements for the coming year, but it was deemed
that, as nothing had happened for one entire fiscal year, the budget would just be resubmitted
from the previous year with minor changes.
The Committee is also responsible for reviewing investment strategies to assist in mitigating risk
of GWSA’s funds. The Committee forwards their findings to the Board for approval.
If you have experience in non-profit organizations and are interested in working on the Finance
Committee, please fill out a Committee Volunteer form indicating your availability.
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