Vizcaya at Waterford

Homeowners Association, Inc.

COMMITTEE CHARTER

Committee Name: Finance

Purpose: The Finance Committee is commissioned by and reports to the Board of Directors. The committee is responsible for advising the board on matters pertaining to the financial operation of the community and developing fiscal policies.

Responsibilities: The committee will;

1. Review the monthly financial reports produced by management,
2. Work with management to produce an initial annual budget,
3. Work with the Board of Directors in development of a final budget,
4. Review the financial policies of the association and make recommendations for improvement as needed,
5. Work with the Board of Directors and other committees regarding funding of community enhancement projects,
6. Promulgate a reserve schedule,
7. Oversee investment of the association’s funds insuring that the primary goal of principle preservation is achieved.

Term: The committee will serve a one-year term from the date of commission. Should the Board of Directors not appoint a new committee the currently serving will continue to serve until a new committee is appointed.

Committee Organization: The committee shall consist of three (3) members to be appointed by the board of directors. The committee will meet as frequently as necessary. Minutes will be taken at all committee meetings.

Relationship to Board of Directors: A copy of all committee minutes will be sent to the board. The board must approve any expenditures in advance.

Relationship to Management: Management staff will provide access to all records, files and contracts. Staff will assist the committee as needed. Any clarification needed regarding the relationship between management and the committee or the functioning of the committee will be submitted to the President of the Association for resolution.

President: _________________________ Date: ________________

Secretary: _________________________ Date: ________________