John Horton Realty
Let's Move Austin LLC
JB Goodwin, REALTORS
Nora Wall & Company, INC.
Kari Anne Ledgerwood
RE/MAX Capital City
Monica Williams - Staff Executive
Austin Board of REALTORS®
Melissa Garringer - Staff Executive
Austin Board of REALTORS®
2019 Budget Committee Charter
Committee Type: Standing Committee
The Secretary/Treasurer will appoint a committee to review the annual operating and capital budget by maintaining ABoR’s financial policies and goals.
Chair: Susan Horton
Committee Composition: The Committee consists of 6 to 8 members, two-year terms, and chaired by Secretary/Treasurer of the Board.
Mission Statement: The committee is responsible for reviewing financial policies, goals, and budgets that support the mission, values, and strategic goals of the organization. The committee also reviews the organization’s financial performance against its goals and reports variances to the Board of Directors.
- Review the annual operating budget and annual capital budget in preparation for annual presentation to the Board of Directors.
- Review capital and operating expenditures and report to the Board of Directors those categories that deviate from budgeted amounts on a quarterly basis.
- Review the financial aspects of major proposed transactions, new programs, and services, as well as proposals to discontinue programs or services, and make quarterly presentations to the Board of Directors.
- The Budget Committee will meet at least four times per year or more as needed for review of annual budgets and quarterly statements.
- Budget Committee members will have access to the SharePoint site ABoR Finance containing budgets, monthly financials, tax returns, and other related ABoR financial data.
- The Budget Committee will consist of six to eight members including the committee chair serving staggered 2-year terms.
- The committee chair will be the acting ABoR Secretary-Treasurer.
- To ensure knowledge of financial matters is carried on from year to year, a member of this Committee may be considered for a term on the Investment or Audit Committee at the termination of their term on this Committee.
BOARD COMMITTEE PRINCIPLES:
Board committees, when used, will be assigned so as to minimally interfere with the wholeness of the board’s job and so as never to interfere with delegation from the board to CEO.
- Board committees are to help the board do its job, not to help the staff do its jobs. Committees ordinarily will assist the board by preparing policy alternatives and implications for board deliberation. Board committees are not to be created by the board to advise staff.
- Board committees may not speak or act for the board except when formally given such authority for specific and time‑limited purposes. Expectations and authority will be carefully stated in order not to conflict with authority delegated to the chief executive.
- Board committees cannot exercise authority over staff. Because the Chief Executive works for the full board, the CEO will not be required to obtain approval of a board committee before an executive action. In keeping with the board’s broader focus, board committees will normally not have direct dealings with current staff operations.
- Board committees are to avoid over‑identification with organizational parts rather than the whole. Therefore, a board committee which has helped the board create policy on some topic will not be used to monitor organizational performance on that same subject.
- This policy applies only to committees which are formed by board action, whether or not the committees include non‑board members. It does not apply to committees formed under the authority of the chief executive.
- The committee must follow the policies and values of the organization.
- The committee members must be REALTOR® members of the Austin Board of REALTORS®.
- Committee Chair may serve as Past Chair the following year for consistency.
- The committee cannot conduct business without a quorum of committee members present (more than 50%).
- Members are required to attend all meetings, to arrive on time and stay for the duration of meetings. If a situation requires their departure, the member will be recorded as absent if not in attendance for at least ¾ of the meeting.
- The chair may drop a volunteer committee member after 1 absence from regularly scheduled meetings.
- All members subject to censure or removal at the direction of the Board of Directors, under the Volunteer Commitment Agreement.
- The Committee, with a supermajority ¾ vote, may censure or remove members of the Committee. Any discussion or action of censuring should be conducted during a “closed meeting.”
- The Committee Chair has the authority to create a subcommittee or task force with approval by the Board of Directors
- The Committee Chair may recommend that the task force or Subcommittee be dissolved once it is determined that the project is complete. This action must be approved by the BOD under the minutes of the Committee.
- That subcommittees may continue into subsequent years but the leadership for that subcommittee (i.e. Chair) may shift (Vice Chair would become Chair). However, should Vice Chair not desire the position, such position will be appointed by the Committee Chair