The Finance Committee reviews the Monthly Financial Statements prepared by the Colony’s Managing Agent and reports the comparison of actual to budget to the Board.  The Committee, chaired by the Board Treasurer, is also responsible for:

• Reviewing monthly investments and making decisions (in collaboration with the HOA’s Investment Advisor) to reinvest for the best yield and maturity as outlined in the HOA’s Investment Policy;
• Coordinating the preparation of an annual audit by an engaged CPA firm and reviewing the report prior to the Board’s final approval and disbursement to the membership;
• Reviewing, in conjunction with the General Manager, the Annual Reserve Study and communicating the recommendations in the study to the Board; and
• Preparing, in conjunction with the General Manager, the Annual Association Budget for consideration and approval by the Board.

The committee usually meets on the 5th Monday of each month