The Finance Committee is charged with developing the annual budget for the ACS Division of Chemical Education (“the Division (GovPro)”) and overseeing this budget and other financial concerns of the Division. This committee also sends recommendations to the Division Executive Committee ("ExCom") on financial matters such as the budget, the investment policy, audit practices, ongoing and new expenses, and ongoing and new income-generating activities.
In 2024, the Finance Committee began its seventh year with new guidelines to provide better continuity in leadership and better representation in its members:
- The chair now has a 3-year term, renewable for three terms. Prior to this, the immediate past chair of the Division served each new year.
- Committee members now include those with financial expertise and with a stake in financial decisions.
- Committee meetings are open, except for those on matters such as personnel.
- The Committee meetings are held prior to the meeting of ExCom rather than afterward.
The Finance Committee currently uses the term “GovPro” or “the Division (GovPro)” to refer to the Governance/Programming part of the Division. This new terminology acknowledges the fact that the Division has several entities, e.g., the Exams Institute, 2YC3, and the Board of Publications.
- Met virtually twice (Nov 2023, Feb 2024) since the ACS Fall meeting
- Held an onboarding meeting (Jan 2024) for new members
- Prepared updates:
- Committee webpage (w. Heather)
- Ops manual text for our committee (w. chair + whole Committee)
- Files stored in DropBox (w. chair + CHED treasurer)
- Committee roster (w. chair + Heather)
- Monitored our investments, talked regularly with our investment advisor
- Charged a subcommittee to work on the CHED travel reimbursement policy
- Discussed current travel reimbursement policy and will propose changes to ExCom
- Reviewed CHED 2024 strategic plan and discussed budgetary implications
- Discussed CHED travel awards, with an eye toward better supporting our members
- Meet in person at 2024 ACS spring meeting (New Orleans)
- Finalize a new travel policy and recommend it to ExCom for approval
- Recommend 2025 budget to ExCom for approval
- Seek needed funds to better serve our members
- Continue to monitor our investments
Document storage: For security and to comply with ACS Legal, our Committee files now are kept in DropBox. All committee members as well as all ExCom members have access to this folder. Files are all in one place; thus, none reside on the Google drive.