L97The
RETIRED TEACHERS ASSOCIATION

 of Chicago
312-750-1522
Finance

Responsibilities from current By-Laws.FINANCE

a.    The Finance Committee shall include the Treasurer and additional Board members as appointed.  

b.   The Finance Committee, with the Executive Director, shall examine the receipts and disbursements of   RTAC and prepare an annual budget at the beginning of each calendar year, subject to the approval of the Board of Directors.

c.  The Finance Committee shall recommend adjustments to the budget to the Board of Directors for approval whenever conditions make such changes desirable.

d.  The Finance Committee shall have the responsibility of instituting an annual audit by an independent certified public accountant.

e.   The Finance Committee shall make recommendations to the Board of Directors to contract for any and all financial services.


Other Activities and Responsibilities

1. Meet with Mr. Roache from Merrill Lynch twice a year to review investment performance.
2. Approve expenditures above the  limit set by the Board of Directors.



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