• Terms of Reference
• Duties and Responsibilities
• Membership

Finance Committee

Terms of Reference

To oversee, in accordance with policies determined by the Board of Directors, the financial activities of the Society and to advise the Board on general financial policy.

Duties and Responsibilities

1. To ensure that adequate records of the assets, liabilities, receipts and disbursements are being maintained.

2. To review the budget for the Operations Fund prior to submission to the Executive and the Board of Directors.

3. To recommend to the Board, financial policies for the Society including, but not limited to, long-term financial policy, long-term investment policy, administration of the Endowment Fund, changes in fees and the format of the Society's financial reports.

4. To seek to maintain and improve the financial health of the Society and, when appropriate, to liaise with the CMS Fund Raising Committee.

5. At each October meeting, to determine the allocations of the revenues provided by the CMS Invested Funds Committee from the CMS Endowment Fund and the Mathematical Olympiads Fund in accordance with the appropriate Terms of Reference, including the amount for the annual Endowment Grants Competition and to submit such allocations to the Board of Directors for approval.

6. To report to the Board on the financial aspects of the Society.

Membership

The Chair shall not be the Treasurer nor the Executive Director and the two other members shall normally be appointed for three-year terms and such that the terms are staggered.