The Finance committee advises the BOD on matters pertaining to the Chapter's financial needs, growth and stability based on periodic review of income, expenditures, and investments.
There is one appointment to be made for a complete 3 year terms beginning January 1, 2024 and finishing December 31, 2026.
Report to: The IPTA President and Board of Directors. Written reports to the Board of Directors should be submitted for the five meetings and the Assembly of Representatives, and as requested.
Committee Composition &Term: The committee is comprised of the Chapter Treasurer and four members of the Chapter who are not members of the Board of Directors. Each member of the committee, except for the Treasurer, is appointed by the President with approval from the BOD for a three year term. The committee member with seniority serves as Chair. Terms are staggered so that a new committee member is appointed each year. If a vacancy occurs on the Finance Committee, a new member is appointed by the President with approval by the Board of Directors to complete the unexpired term associated with the vacancy.
Position Objective: To advise the BOD on matters pertaining to the Chapter's financial needs, growth and stability based on periodic review of income, expenditures and investments. This also includes the development of the Chapter's annual budget for approval by the BOD.
Benefits: By contributing to the financial stability of your professional association you help ensure that the Chapter has the capacity to move forward in accomplishing our mission. You may advance your knowledge and skills in business and financial management through participation in training opportunities and interaction with Chapter staff.
Specific Responsibilities: The Finance Committee is responsible for the development of the annual budget that provides for the Chapter to advance its mission. You will review budgetary requests and make recommendations based on previous expenditures, relationship to current Chapter goals and initiatives, and projected cash flow. You will assist the Chapter staff by reviewing policies, contracts, financial statements, audits and filings to ensure compliance with federal, state and APTA reporting requirements. You will review the Chapter's investments and make recommendations to the BOD.
Time Commitment: One Finance Committee meeting is held annually and most work is conducted via email. Periodic review of financials and investments is conducted through out the year (no more than 3-4 hours of work per quarter) and during the summer months there is additional information to review relating to budget, policy and contract review (20-30 hours).
Qualifications: Must be an IPTA PT, Retired PT, or Life PT, PTA, Retired PT or Life PTA member in good standing. In order to be successful in this role, basic/advanced computer skills and knowledge of standard accounting principles and practices are desirable. Many of your assignments will be time sensitive; it is important to be organized and able to meet deadlines. Although not required, and interest in banking and investments is welcomed.
Training and Support: The Chapter office provides annual volunteer orientation as well as ongoing administrative and clerical support for the committee. Access to resource documents and information is available through www.IPTA.org. In addition, you will have opportunities to participate in APTA’s various training opportunities that are relevant to your role. This may include programs/webinars relating to budget, financial planning, and accounting. The Chapter office manages the day to day financial responsibilities and prepares reports, statements, and reconciliations.
Recourse: The IPTA places great value on the relationship between members, staff, and businesses working together to further our mission. The IPTA also recognizes that there may be occasions when conflicts arise. If such circumstance occurs, please consult with the IPTA President and Executive Director.
Evaluation: The IPTA BOD President will contact you before the completion of your term for feedback on your volunteer experience. This will be used to update this job description, develop appropriate materials, and effectively orient future IPTA volunteers.