Finance and Investment Committee

Purpose

The Finance and Investment Committee provides oversight to ensure SAI’s financial health and asset protection.

The Finance and Investment Committee monitors the financial strategies of SAI, and oversees the SAI Investment program.

Structure

The Finance and Investment Committee is composed of six members, with at least three members appointed from the Board. The Secretary-Treasurer of SAI serves as an ex officio member of the Committee and may serve as one of the members representing the Board. Committee members may serve for a maximum of three, one-year terms, which may run consecutively. One Committee member is designated as Committee Chair by the Vice Chair-Chair Elect (who shall preside as Board Chair during the year for which the appointments are made).

Operating Guidelines

1. The Vice Chair-Chair Elect (who shall preside as Board Chair during the year for which the appointments are made) will appoint members to the Finance and Investment Committee no later than July 1 of the year of service.

2. The Committee meetings are arranged on as “as needed” basis. Meetings are typically conducted by conference call. One face-to-face meeting may be conducted each year.

3. The Committee takes a broad view of short-range and long-range plans and reviews the anticipated financial requirements to achieve these goals. The Committee reviews the annual budget prepared by the President and CEO and along with the Secretary-Treasurer, recommends the budget to the Board.

4. The Committee provides guidance to the Board regarding significant financial matters. The Committee considers recommendations for changes to the schedules of membership dues and accreditation fees of SAI.

5. The Committee annually reviews the appropriateness of and monitors compliance with, the reserve funds policies stated in the Executive Limitations section 3.1 of the SAI Governance.

6. The Committee is responsible for the establishment and implementation of investment policies and guidelines. The Committee reviews investment performance and makes recommendations on SAI’s investment portfolio.

7. Staff provides periodic updates to the Committee about the performance of the investment portfolio (usually quarterly, unless specified otherwise). Investment performance updates are provided to the Board on an as-requested basis, generally at least annually.

8. The Committee Chair presides over meetings of the Committee and is authorized to approve all visitors to the meetings.

9. A quorum requires three Committee members in attendance, in person or by electronic means.

10. Meetings are relatively informal, but Robert’s Rules of Order and parliamentary procedure guide formal actions.