Fascia Research Society logo
Fascia Research Society

FRS Finance Committee

FASCIA RESEARCH SOCIETY FINANCE COMMITTEE CHARTER

Purpose/Mission
The role of the finance committee is to provide short- and long-term financial oversight for FRS. The finance committee oversees FRS’s funding and spending.

Committee Type
Standing

Committee Membership
The Finance Committee shall be chaired by the FRS Treasurer and may consist of additional members of the Board of Directors. These members will be selected for one-year terms but may serve a maximum of three consecutive one-year appointments. The board President may fill vacancies on the committee and remove a member at any time, with or without cause. All committee members must be members of FRS in good standing.
FRS commits to professional diversity, including scientists, researchers, practitioners, athletic FRS staff liaison provides necessary support to the Co-Chairs and Committee members to facilitate the committee's work, including scheduling meetings, helping to prepare agendas, and preparing the annual report to the FRS Board. In addition, FRS staff provides meeting management execution and support for the FRC.
FRS commits to professional diversity, including scientists, researchers, practitioners, athletic professionals, and others involved in the study of fascia. FRS is a diverse, inclusive, and equitable nonprofit organization where all members, volunteers, service providers, and employees feel valued and respected, regardless of gender, race, ethnicity, national origin, age, sexual orientation or identity, education, or disability.

Authority
The committee has no expressed or implied power or authority beyond completing its responsibilities outlined in the Charter.
 
Responsibilities
  1. Develop and submit an annualized operating budget timeline and process.
  2. Approve the operating budget present the budget to the entire board of directors for approval.
  3. Review FRS’s investments, including investment objectives, strategy, reporting, and performance for long-term financial sustainability. [when relevant]
  4. Present Quarterly financial statements to the Board of Directors
  5. Review its charter annually and recommend any proposed changes to the board for review.
Meetings
The committee will meet quarterly or more often as needed. A majority of the committee members present shall constitute a quorum. The committee chair will take and keep a copy of the meeting minutes and forward a copy to the FRS Office at info@fasciaresearchsociety.org.

This charter was written by Rebecca Pratt and Eric Fletty and approved by the FRS board of directors on July 17, 2024. The estimated volunteer commitment for this committee is approximately 3-5 hours per month.