Let's Move Austin LLC
Rollingwood Management, Inc.
Keller Williams Realty
John Horton Realty
JB Goodwin, REALTORS®
Nora Wall & Company, INC.
Kari Anne Ledgerwood
Allure Real Estate
Monica Williams - Staff Executive
Austin Board of REALTORS®
Melissa Garringer - Staff Liaison
Austin Board of REALTORS®
2020 Budget Committee Charter
Committee Type: Standing Committee
Misson: The committee is responsible for reviewing financial policies (GAAP), 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.
Chair: Ashley Jackson
Committee Composition:The Committee composition shall be as follows at the time the Committee selection is approved by the Board of Directors:
- The Committee consists of 6 to 8 members, two-year staggered terms, and is chaired by Secretary/Treasurer of the Board of Directors.
Purpose: The purpose of the Budget Committee is to review financial policies, goals, and budgets that support the mission, values, and strategic goals of the Association.
- The Budget Committee shall conduct closed meetings due to the sensitive nature of business discussed. Members may individually request financial records according to Association policy and where required, financial reports are made to the membership.
- Review 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.
- All members of the Committee shall have a working familiarity with basic finance and accounting practices and be able to read and understand fundamental financial statements, including balance sheets, income statements and statements of cash flow.
- Encourage all Committee members to participate in leadership development.
COMMITTEE POLICY AND PROCEDURE
- The Board of Directors will identify a process to complete an annual review of Committee/Task Force charters by the November board meeting.
- Only active Association REALTOR® members may serve on Standing Committees.
- Committee/Task Force members shall abide by and may receive copies of the following:
- The Association's Bylaws;
- The Association's Governing Policies;
- Committee/Task Force charter; and
- Volunteer Commitment Agreement.
- Committee/Task Force members who do not abide by the Association’s Bylaws, the Governing Policies and the Volunteer Commitment Agreement are subject to censure or removal at the direction of the Board of Directors in Executive Session by majority vote for any reason.
- The President is an ex-officio member of all Committees pursuant to the Association’s Bylaws, with the exception of the Vetting Committee.
- Chairs, vice-chairs and members of Committees/Task Forces may not use their positions to market or promote their services, expertise or product to members.
- If a vacancy shall occur, the Board of Directors may make the appointments by majority vote.
- A Committee chair may serve as past chair the following year for consistency, with Board of Director approval.
- Task Forces may continue into subsequent years but the leadership for that Task Force (i.e. chair) may shift (vice chair would become chair). However, should a vice chair not desire the position, such position will be recommended by the Board of Directors.
- The chair shall drop a Committee/Task Force member after three absences from regularly scheduled meetings. This provision may be waived by vote of at least three-fourths of the other members of the Committee.
STAFF LIAISON EXPECTATIONS
The CEO may assign staff support for each Committee/Task Force to assist with preparing and disseminating notices and correspondence, and preparing reports of the meetings. Staff may also provide professional recommendation and analysis as needed.
- All Committees/Task Forces meet as needed.
- Committee/Task Force meetings may be called by the chairperson, any two Committee members, or by a formal motion of the Board of Directors.
- Committee/Task Force meetings shall be scheduled through the Association office and during normal business hours.
- Meeting notices shall be sent out by the Association staff at least one week prior to the meeting. All Committee/Task Force chairs and members shall have electronic mail capacity in order to receive notices and other information.
- Committee/Task Force meetings shall be closed when considering proprietary matters, including competitive bids or competitive responses to requests for services from vendors, when the Committee is considering matters that the Association is required to keep confidential by the terms of confidentiality provisions with third parties, and when a closed meeting is required by other provisions of these Governing Policies or required or authorized by the Board of Directors. Minutes or reports from closed meetings will be presented to the Board of Directors during Executive Session.
- Committees/Task Forces should report to the Board of Directors the status of accomplishments of the Board goals as outlined in their Charter.
- After each Committee/Task Force meeting, the Association should cause Committee reports in the form of minutes to be prepared by Association staff to include recommendations to the Board of Directors for consideration, a record of the actions taken at the meeting, and any other annotations consistent with Association practices. Minutes are reviewed by the Committee/Task Force chair or counsel, if appropriate, before Committee approval.
- Each Committee/Task Force member voting for or against an action at a meeting has a right to have his or her support or dissent, along with rationale, reflected in the report of the meeting.
- All Committee/Task Force members are asked to comment promptly, in writing, on any minutes circulated in the event that there appears to be any error, omission, or item in need of revision. A nonresponse is deemed as approval of the Committee report.
- A quorum for all Committees/Task Forces is a majority of the total number of Committee members.
- A Committee/Task Force cannot conduct business without a quorum of Committee members present.
For electronic considerations, the Board of Directors requires a valid process be followed for electronic votes.
- All communication/votes in reference to an electronic vote shall be cc’d to all Committee Members
- Each Committee Member shall cast their vote by 5:00 pm the day after distribution of the electronic consideration
- No response shall be counted as an “abstention”
- The day following the completion of an electronic vote, staff or Committee Chair shall report the roll call vote to all Committee Members
- All Committee Members shall confirm their vote by end of day when the roll call vote is offered
- If a Committee Member does not confirm his/her vote, the Committee Members vote shall be considered correct.