The Finance and Insurance Committee reviews with staff quarterly financial reports, and reviews audit reports prepared by external auditors, and annually reviews investment policy, and makes recommendations in a posted meeting of the Board. The Treasurer shall serve as the Chair of the Finance and Insurance Committee.
Board committees have no power to act on behalf of the Board. The powers of Board committees shall be limited to making such reports and recommendations to the Board at Posted Board meetings where a quorum is present, together with an explanation of the reasons for any such recommendation. Decisions on matters referred to the Board committees shall be made only by the Board of Directors.