Work for FY2026:
Update the designated reserve funds for SELCO and SELS
Review Policies:
Net Asset Reserve
Expenses
Fixed Assets
Finance Committee Procedures
FY2025 Finance Committee Charge:
Responsible for financial matters including budget planning and oversight, review of financial policies and audit findings, and providing financial recommendations to the SELCO/SELS Board of Directors. The Committee will monitor and manage reserve funds and advise and consult on other SELCO investment opportunities. The committee will monitor SELCO’s investments with the SELCO Library Foundation.
Responsibilities and Timeline of the Finance Committee
September/October -
Review and recommend Audits to the board in September
Review Committee Function, Charge & Tasks
Revisit the SELCO Investment Policy and review SELCO investments
Review Policies for recommendation to board, if needed.
January -
Designate the undesignated funds
Review and recommend SELCO and SELS tax return 990s
Review Policies for recommendation to board, if needed.
February -
Review budget priorities from SELCO AC and SELS AC
Review Personnel Committee budget recommendations
Review Facilities Committee budget recommendations
Receive budget requests from SELCO staff
March -
Committee member/s attend SELS budget to SELS Advisory - feedback session
April -
Committee member/s attend SELCO budget to SELCO Advisory - feedback session
April or May -
Finalize budgets to recommend to the board
Review Policies for recommendation to board, if needed.