Finance Committee

The role of the Finance Committee is one that provides oversight, accountability and insight for the financial health of Southcott Pines with committee members having significant financial and business expertise.  Their role includes regular review of our financial statements to monitor progress of our operation and capital investments while supporting the Treasurer through activities such as investment strategies and our annual 3rd party review. 

For example, we recently made a change to invest the funds of Southcott Pines in short and mid-term GIC’s while providing CDIC Insurance coverage of the Southcott Pines funds.  This will allow for higher interest returns while giving the association flexibility for the cash flow to maintain regular operations. 

The Finance Committee also plays a significant role in our budgeting process by reviewing and providing insights and tough questions on all the various committee budgets and overall consolidated budget to make sure to help hold us all accountable for a fiscally responsible budget.   Without the support of our Finance Committee members this would put more pressure on the Treasurer and board to fill this role.  Your insight and experience are greatly valued and appreciated.

~ Steven Kraemer, Treasurer