FINANCE & 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.

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

• The Annual Audit of the corporation, to include:

- Financial internal controls

- Risk and accounting issues

- Efficiency issues

- Compliance issues

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

• Duties:

• Reviewing and recommendation to the full Advisory Board of Directors the approval of all Quarterly iscal Reports submitted to the ILETSB in fulfillment of grant conditions

• 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

• Reviewing and recommending to the full Advisory Board of Directors the approval of the Annual Audit and Management Letter

• Reviewing and recommending Statements of Revenue and Expenditures

• Reviewing and approving Balance Sheets and Cash Flow Reports

• Monitor corporate compliance with the Grant Funds Recovery Act

• Reviewing and recommending to the full Advisory Board of Directors the approval of Fund Balance Expenditures

• Reviewing and approving progress reports for the NEMRT Capitol Expense and other funds

• Completing any additional projects as may be assigned by the Advisory Board of Directors