A Finance Committee of at least four members shall be appointed by the incoming President to staggered terms of three years (with the possibility of renewal). The Chair shall be elected by the members of the Committee. The function of the Committee shall be to review the PES investment strategy and portfolio, as well as the Society’s annual budget, and to recommend substantive and procedural changes as necessary to the Executive Board.
Over the past several years, the Finance Committee has recommended changing our banking location from a high-cost investment firm to a lower cost firm, and are still working to make that happen. We have encouraged regular practices of budget forecasting, created spreadsheets to make that possible, and offered advice and support to our Executive Director. Having this kind of advice available to the PES Officers and Board can take some of the stress of office off them.