Committee  Minutes (click)

MISSION STATEMENT

Advise and consult with the Board of Directors for HHHOA on financial activities.  Review, analyze and recommend financial policies and processes that will contribute to the effective financial management for the community.  Participate in budget and long-range financial planning.  Oversee the appropriate and timely dissemination of financial information to the residents.  Support the oversight responsibilities of the BOD. 

MEMBERSHIP

The Financial Affairs Committee shall not to exceed 9 members.  The BOD shall select the Chair.   The Treasurer of the Board shall act as the liaison to the committee.  The Chair will select the membership subject to the Board's approval.  The General Manager and Controller will be ex-officio members.

DUTIES AND RESPONSIBILITIES

1.     Provide advice and recommendations to the Board on the financial budgeting process, including but not limited to financial perspectives prior to the actual budget process.

2.     Provide leadership for budget development.  Consult with the HOA management and department heads in developing the annual operating budget.  Review all financial information, including cash flow on a monthly basis and report any issues/concerns to the BOD

3.     Review and recommend the appropriate level of Operating Reserve, Capital Fund budget levels and Non-Reserve Expenditures.

4.     Monitor progress toward achievement of annual fiscal objectives.

5.     Assist the Audit committee as requested.

6.     Review and recommend policy and guidelines that are used to manage financial tasks.

7.     Review and recommend guidelines for investment policy.

8.     Recommend to the Board the establishment and amount of fees and assessments.

9.     Review and recommend actions that will assist the Board and HOA staff in long range financial planning for the community.

FINANCIAL AFFAIRS COMMITTEE

MEMBERS

2008-2009

NAME                                     PHONE                       E-MAIL          

            Ralph Clark                            744-9356        ralphclark@comcast.net    Chair

Bill Burns                                572 9591         Bmkburnsaz@aol.com

Tom Bart                                 572 7047         tomrbart@excite.com          Vice-Chair

Ed Thelen                              579 9088         EThelen@aol.com              Secretary

Earl Jacobson                       744 6771         earljd_mba@msn.com

Bill Park                                  579 8515           billandpia@yahoo.com

Rick Devereaux                    744 0644           rick_dev@comcast.net

Allan Zahn                     (763)458-8573          zahnsinminn@msn.com

Don Gross                             572 9520         toogross@q.com

Pete Edwards               572-3993       pete.edwards@attglobal.net         BOD Liaison

Ted Colburn                579-2093       tcolburn@heritgehighlands.com     Ex Officio