The Finance and Investment Committee will consist of the Executive Committee and will serve a term of one year.
Section 3. Finance-Investment Committee (a) Composition. The committee will consist of the Executive Committee and such other persons as the Board may determine will assist the committee in fulfilling the committee’s functions. (b) Term. Committee members serve a term of one (1) year. (c) Appointment. The committee is appointed by the Board of Directors. (d) Vacancies. Any vacancies will be filled by the Board for the unexpired portion of the terms.
- e) Chair. The Treasurer will chair the committee.
(f) Function. The committee meets quarterly at the call of the chairman to review MPOA’s financial status. The committee’s charge is to: first, determine – with the counsel of the Investment Advisor – whether MPOA’s current portfolio adequately represents MPOA’s short and long term goals, and second, to recommend to the Board changes, if needed, in investment goals and levels of risk.
- Conduct Committee meetings at least quarterly with agenda and minutes available to Property Owners.
- Pass an annual budget by the November 2022 meeting with drafts provided no later than 1 October, 2022.
- a) Establish investment goals.
- b) Develop a framework for assessing financial risks.
- c) Provide an ongoing assessment of how inflation is impacting our investments and budget.
- d) Obtain reference documents (Bylaws, State Codes, previous audits, CAI publications).
2023 Proposed Budget Information