FinCom is a Standing Committee of the Governing Board.
Members of the committee for 2015:
R/C Ben Coons, JN-CN
Stf/C David McMahon, AP-IN
P/C Fay Bayard, AP-IN
1st/Lt Larry Cole, SN
P/D/C Raymond Nylander, JNStanding Committees:
The 24 January 2015 USPS Bylaws state:
Section 5.8 There shall be standing committees of the Governing Board with chairman, assistant chairman and members to be elected or appointed as provided in Article 11 herein.5.8.1 [Reserved]
5.8.2 There shall be a Finance Committee, reporting to the Board of Directors, composed of five members of whom one shall be chairman, and another of whom shall be assistant chairman. The Finance Committee shall, before the end of each fiscal year, review the proposed budget for the ensuing fiscal year as prepared by the budget director. After determination that the necessary funds can be made available to finance the budget as presented, the Finance Committee shall submit such budget to the Board of Directors for consideration before the fall meeting of the Governing Board. In the event the Finance Committee cannot foresee the required funds, then it shall reject the budget as presented and return same to the budget director, together with an estimated amount which the Finance Committee feels can be realistically financed. The budget director will then work with the national treasurer to revise the proposed budget and resubmit to the Finance Committee through its chairman.
5.8.2a Such budget when adopted by the Board of Directors will be final, except as special supplementary appropriations may be approved subject to the following procedure: All special requests for subsequent appropriations shall be submitted to the Finance Committee, in writing whenever possible, and with full reasons in support thereof. Thereafter, the Finance Committee shall report promptly its recommendations to the Board of Directors.
5.8.2b The Finance Committee shall annually make a study of the amount of annual dues and fees and make a report with respect thereto to the fall meeting of the Governing Board.
5.8.2c The Finance Committee shall draft a fiscal policy for consideration and adoption by the Board of Directors. The policy shall define a measure of the financial health of USPS, conditions warranting remedial action and required responses.
5.8.2d The Finance Committee shall propose to the Governing Board at its annual meeting an outside auditor licensed to practice in North Carolina.
