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The Finance Committee is Chaired by the Treasurer and will consist of the President, Past President, and President-Elect, and two non-executive SCRA members appointed on the basis of interest to serve, and expertise/ experience with investments, with full written disclosure of qualifications. All members of the Finance Committee and any of its subcommittees must complete appropriate documentation with regard to potential conflict of interest.
Given the importance of the Finance Committee and the need to balance continuity with accountability, members of the Finance Committee will have 3 year terms, with 2 consecutive terms possible. However, the Executive Committee will review the performance of the Finance Committee and its subcommittees annually and has the right to make changes in membership that it deems necessary at any time, by majority vote.
The Finance Committee members will serve as long as they are in their designated offices or for no more than two consecutive three-year terms. The Finance Committee may consult with experts outside of SCRA, including those who maybe members of subcommittees as noted below, but formal membership in the Finance Committee is restricted to SCRA Members only.
The Budgeting Process
SCRA yearly budgets are determined at the Executive Committee’s Midwinter Meeting. In December all EC members, councils, committees, and interest groups are asked to prepare a report for the Midwinter Meeting Briefing Book, which forms the basis for the discussion at the Midwinter Meeting. Those reports contain a description of the activities of the group/individual over the past year, plans for the coming year, and any budget requests. Budget requests are discussed at the Midwinter Meeting and at the end of that meeting a final budget for the coming year is approved. The primary criterion for determining whether or not a request gets funded is the extent to which the activity supports the mission and goals of SCRA. While there are no specific categories of requests that we refuse to fund, we do closely examine requests for food, travel and honoria to determine if they advance the mission. SCRA does have specific funds set aside for student and international initiatives and these can include travel.
The total number and amount of the requests funded depends upon the overall anticipated revenue and expenses for the year. We have never been in a position of being able to fund all requests. Out-of-budget requests (i.e. those that are not included in the budget requests considered at the Midwinter Meeting) are generally not funded, unless the president, president-elect, past-president and treasurer agree that the request is necessary and could not have been foreseen when the yearly budget requests were submitted.
Committees, councils, interest groups and EC members may occasionally identify a need for funds that were not allocated in the annual budgeting process. To address these needs, committees and/or councils can submit to the president one emergency funding request of up to $1,500 per fiscal year. The funding request must include an explanation of the purpose of the funds, a budget, and a rationale that includes how the funding will enhance the expression of SCRA’s Vision, Mission, Principles or Goals (pg. 41). The request should also include an explanation regarding why the item was not included in the regular budget submission and why the request cannot wait until the next budget cycle.
Approval of a request requires the consensus of the president, past-president, president-elect and treasurer. After a decision is made, the president will submit a brief report to the Executive Committee, including a copy of the request for emergency funding.
Please go to the Reimbursement Form page for complete information on receiving reimbursements or grant payments from SCRA.
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