Committee Schedule & Minutes

Meetings of committees of the Board of Directors will be held at the offices of the Capital District Regional Planning Commission, at One Park Place, Suite 102, Albany, New York 12205. Particular meetings may be held at a different location at the discretion of the committee members, subject to appropriate notice under the Open Meetings Law.

The Model annual calendar of Committee Meetings follows. Additional meetings may be added to this calendar as the committees deem appropriate, and in response to specific issues.

October

Audit Committee: Perform Annual Self-Evaluation and report result to Board.

Governance Committee: Perform Annual Self-Evaluation and report result to Board.

November

Audit Committee:

  • Review and approve the Corporation’s audited financial statements, associated management letter, report on internal controls and all other auditor communications.
  • Approve draft audit report, if available and appropriate, and recommend Board’s approval.

Finance Committee: Review and approve budget and investment sections of draft Annual Report, or provide comments.

December

Annual, audit, procurement, and investment reports are due by December 31, 90 Days after start of Fiscal Year (Requires board review and approval)

Audit Committee: Approve draft audit report, if not already approved, and recommend Board’s approval.

Finance Committee:

  • Report to the Board on the Corporation’s compliance with its adopted budget during the fiscal year (actual verses estimated budget) on a quarterly basis.
  • Review and approve budget and investment sections of draft Annual Report, if not already approved.
January – May

All Committees: Review Policies and Procedures and Update if necessary

Audit Committee:

  • Review Ethics Policy to ensure that confidential reporting mechanisms exist for suspected fraud, corruption, etc.
  • Review any other relevant policies subject to the audit committee’s oversight.
  • Review Audit Committee charter, and recommend any appropriate changes to the Board.

Governance Committee:

  • Review governance policies and prepare proposed updates if necessary.
  • Review the compensation and benefits for senior Corporation officials.
  • Review, assess and make necessary changes to the governance committee charter.

Finance Committee:

  • Review thresholds in procurement policy and propose revisions, if necessary.
  • Review scope and terms of Corporation’s insurance policies.
  • Review other policies subject to committee’s oversight, as appropriate, e.g., investment policy.
  • Review 4-year financial plan, including:
    • a current and projected capital budget, and
    • an operating budget report, including an actual versus estimated budget, with an analysis and measurement of financial and operating performance.
  • Arrange for preparation of draft budget report.
  • Review Finance Committee charter, and recommend any appropriate changes to the Board.
March

Finance Committee: Report to the board on the Corporation’s compliance with its adopted budget during the fiscal year (actual verses estimated budget) on a quarterly basis.

June

Finance Committee: Report to the board on the Corporation’s compliance with its adopted budget during the fiscal year (actual verses estimated budget) on a quarterly basis.

June / July

Budget Report for Local Authorities is due 60 days before end of Fiscal Year (Requires board review and approval)

Finance Committee:

  • Approve and recommend Board’s approval and issuance of Budget Report (“budget information on operations and capital construction setting forth the estimated receipts and expenditures for the next fiscal year and the current fiscal year, and the actual receipts and expenditures for the last completed fiscal year.”)

Audit Committee:

  • If necessary, approve request for proposals or otherwise arrange proposals from prospective auditors. If auditor has already been retained, define scope of work for upcoming audit of Corporation’s finances.
  • Establish any other terms of retention of the audit firm in proposed contract.
August

All Committees: Review Policies and Procedures and Update if necessary

Audit Committee: Recommend award of contract for auditing firm to Board, if necessary.

September

Governance Committee: Recommend form of Annual Self-Evaluation for use by Board of Directors.

Finance Committee:

  • Approve proposed annual budget and recommend for approval by the Board.
  • Report to the board on the Corporation’s compliance with its adopted budget during the fiscal year (actual verses estimated budget) on a quarterly basis.

Audit Committee: Approve selected auditor’s scope of work, and authorize audit of Corporation’s finances.

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