Finance Committee

Finance Committee’s 2nd  Quarter Report

As required by Ridgefield policy the Finance Committee has reviewed the 2nd quarter’s budget performance and found it to be in excellent condition. There are a few expense accounts such as Landscaping’s Other Services and Utilities & Service’s Water  - Common areas that are high as a result of the need to repair this past summers damage to our lawns.

The Finance Committee has started to review  the 2011/12 Reserve Budget at the January meeting.

Bob Meyer, Chairman

Responsibilities of the Finance Committee:

  • Establishes a process for receiving input to the Budget development from the Board of Trustees, Committees, staff, contractors and Owners.

  • Conducts research and analysis in preparation for and support of proposed budget.

  • Submits formal budget proposal to the Board of Trustees for consideration.

  • Monitors and oversees financial management system for the Board of Trustees to identify areas where significant budget deviations have occurred and why.