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ISI Finance Committee


Terms of Reference

The Finance Committee will:
1) Examine the ISI’s finances on an annual basis.
2) Advise the ISI Executive Committee (EC) and the Director on the preparation of the annual budgets and on appropriate format for financial reporting.
3) Examine the ISI’s investment portfolio on a regular basis and advise the EC on investment policies.
4) Submit a report on the ISI’s finances and investments to be included in the ISI Annual Report for members’ information and discussion during the General Assembly.


Structure and Functioning

1) The FC shall be composed of a Chair and at  least four other ISI members.
2) The Chair of the Committee is appointed by the EC for a term of 2 years. This term can be prolonged with another 2 years. The Committee members are appointed by the EC in consultation with the Committee Chair.
3) The FC shall meet at least once a year, either in person or by virtual means.
4) The FC meeting shall take place as soon as possible after the external auditors have completed their work of reviewing the finances of the ISI and Associations and submit their statement about the finances.
5) The agenda for the meeting shall be prepared by the Director in consultation with the President and shall be finalized by the Chair of the FC.
6) The PO shall prepare all the background documents for the FC meeting including a brief analysis of the highlights in the background documents.
7) At its meeting, the FC shall review the finances, proposed budgets and current investments of the ISI, and provide advice to the ISI.
8) The Director and Finance Manager shall develop the minutes that document the key points of the discussion, findings and recommendations and submit to the FC for review and approval. This shall be done within two weeks of the FC meeting.
9) The minutes, including the findings and recommendations, shall be submitted for discussion by the EC at its next meeting.
10) The FC shall submit a short report (one to two pages) about the state of the ISI finances and investments. This will be first submitted for discussion to the ISI Council and will then be included in the Annual Report of the ISI and Associations submitted to the General Assembly.


Current Composition

Chair 

Country 

Peter van de Ven France
   

Members 

 
Rudi Acx Belgium 
Dee Denteneer Netherlands 
Bart Meganck Belgium 
   

Ex-officio 

 
Helen MacGillivray, ISI President Australia
Ada van Krimpen, ISI Director    Netherlands 
   

Secretary

 
Michael Leeuwe, ISI Finance Manager         Netherlands
   
Liaison with EC: The chair liaises with the ISI President
Liaison with PO: Michael Leeuwe, ISI Finance Manager
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