Mr. Jerome Mariarathinam, Director Finance committee
Finance Committee – Role and Responsibilities
The Finance Committee plays a critical role in ensuring the financial health, transparency, and accountability of CATCA. The committee oversees financial planning, budgeting, reporting, and compliance, helping the organization use its resources effectively to fulfill its mission.
Key Responsibilities:
1. Budget Preparation and Oversight:
• Assist in developing the annual budget in coordination with the Treasurer and Executive Committee.
• Review and recommend the proposed budget for board approval.
• Monitor actual performance against the budget throughout the year.
2. Financial Reporting and Transparency:
• Review monthly and quarterly financial statements.
• Ensure that reports are clear, accurate, and presented in a timely manner.
• Report key financial updates to the board and general members as needed.
3. Internal Controls and Compliance:
• Establish sound financial policies and internal controls to safeguard organizational assets.
• Ensure compliance with IRS regulations and nonprofit financial reporting requirements.
• Oversee audits or financial reviews when necessary.
4. Financial Planning and Risk Management:
• Provide strategic guidance on financial sustainability and long-term planning.
• Evaluate investment or fundraising opportunities while managing financial risks responsibly.
5. Support and Oversight:
• Support the Treasurer in performing day-to-day financial duties.
• Serve as a resource for all finance-related questions or initiatives.
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Treasurer – Role and Responsibilities
The Treasurer is the financial officer of CATCA and a key member of the Executive Committee. The Treasurer ensures proper financial management, record-keeping, and reporting for all organizational transactions.
Key Responsibilities:
1. Financial Management:
• Manage the organization’s bank accounts and oversee all receipts, disbursements, and transfers.
• Maintain accurate financial records and ledgers.
• Reconcile bank statements regularly to ensure accuracy.
2. Budget and Reporting:
• Work with the Finance Committee to prepare the annual budget.
• Present financial statements and reports at each board meeting.
• Track income and expenses against the approved budget.
3. Compliance and Documentation:
• Ensure compliance with all tax filings, nonprofit regulations, and financial policies.
• Keep records of donations, sponsorships, and grants for transparency and auditing.
4. Advisory and Leadership Role:
• Advise the board on financial implications of proposed actions.
• Promote financial literacy and accountability among members.
• Support fundraising initiatives by ensuring proper recording and acknowledgment of contributions.
5. Transition and Continuity:
• Maintain organized financial records for easy transition to the next Treasurer.
• Provide guidance and training to volunteers assisting with financial tasks.
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In Summary:
• The Finance Committee ensures financial oversight and policy.
• The Treasurer manages day-to-day financial operations and reporting.
Together, they uphold CATCA’s integrity, stewardship, and commitment to responsible use of community funds.