NEMRT Finance and Audit Committee

The Members of the Advisory Board of Directors have, by resolution, created a Finance and Audit Committee. The Finance and Audit Committee is directly responsible to the Advisory Board

I.   Purpose:  The development, writing, and submission of the corporation's annual Line Item Budget and Grant Application

II.    The Annual Audit of the corporation, to include:

        A.   Financial internal controls
        B.    Risk and accounting issues
        C.    Efficiency issues
        D.    Compliance issues

III.    Appointments: In accordance with the NEMRT By-laws, the President shall make appointments to the Committee as needed.

IV.    Duties:

1. Reviewing and recommendation to the full Advisory Board of Directors the approval of all Quarterly Fiscal Reports submitted to the ILETSB in fulfillment of grant conditions
2. Reviewing and recommending to the full Advisory Board of Directors the approval of all Affidavit of Excess Funds Reports submitted to the ILETSB in fulfillment of grant conditions
3. Reviewing and recommending to the full Advisory Board of Directors the approval of the Annual Audit and Management Letter
4. Reviewing and recommending Statements of Revenue and Expenditures
5. Reviewing and approving Balance Sheets and Cash Flow Reports
6. Monitor corporate compliance with the Grant Funds Recovery Act
7. Reviewing and recommending to the full Advisory Board of Directors the approval of Fund Balance Expenditures
8. Reviewing and approving progress reports for the NEMRT Capitol Expense and other funds
9. Completing any additional projects as may be assigned by the Advisory Board of Directors

Copyright © 2004 North East Multi-Regional Training, Inc. MTU#3