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9.12 – Annual Finance Meeting Checklist

During the first quarter finance committee meeting, the following items will be reviewed:

  1. The Board of Directors will approve new signers to each bank account through resolution.
  2. The Board of Directors will approve new necessary bank accounts through a resolution.
  3. As required, new signers will complete the appropriate signature card and corporate resolutions.
  4. Name, address, and telephone directory of the new Board of Directors officers will be obtained.
  5. A review of the current operating procedures will be made with the Finance Director and reaffirmed or revised.
  6. Policy revisions will be reviewed by the Executive Team and the Finance Committee, then forwarded to the Executive Director for signing.
  7. All financial institutions should be notified of any changes to the authorized signers of the accounts within three business days following the resolution.
  8. The Board of Directors will review all necessary financial documentation, including, but not limited to, 990 tax filings, 401K audit, compilation by CPA, income statements, balance sheets, 5500 filings, finance committee minutes, retirement committee minutes, retirement quarterly reports, loan documents, and any other related regulatory reviews. These tasks will be completed on an ongoing basis based on the due date of each task.

Last Revised: 4/30/21

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