FINANCIAL ADVISORY COMMITTEE
Jene Hong, Chair
Marianne Bishop, Treasurer
Joyce Bulau, President
The Financial Advisory Committee (FAC) will be composed of the President, Treasurer and such other Members of the Association as deemed appropriate by the Board. The FAC will formulate and recommend the financial and investment policies of the Association.
Prior to the Board setting the Annual Assessment the FAC shall evaluate the long-term funding status of the Replacement Reserve Plan (RRP). The Treasurer will provide a draft of next year’s Operating Budget which includes expenditures for both Operating and Reserve Projects. The FAC will make a recommendation to the Board for the amount needed for the following year’s Annual Assessment comprised of the amount for the Operating Fund and the amount to be transferred to the Reserve Fund.
The FAC will also discharge such other duties as may be required by the Board and in all matters, will report to and make its recommendations directly to the Board.