The Finance Committee has authority to review all proposed changes to the capital structure of the Corporation, including the incurrence of long-term indebtedness and the issuance of additional equity securities, and will make suitable recommendations to the Board of Directors. It further has authority on an annual basis to review the proposed capital expenditure budget of the Corporation and make recommendations to the Board of Directors for its adoption, and review and approve the contributions and community support budgets. During the intervals between the meetings of the Board of Directors, the Finance Committee shall, except when such powers are by statute or the Articles of Incorporation or the Bylaws either reserved to the full Board of Directors or delegated to another committee of the Board of Directors, possess and may exercise all of the powers of the Board of Directors in the management of the financial affairs of the Corporation, including but not limited to establishing lines of credit or short-term borrowing arrangements and investing excess working capital funds on a short-term basis. All action by the Finance Committee shall be reported to the Board of Directors at its meeting next succeeding such action, and shall be subject to revision and alteration by the Board of Directors.
Download PDF
4.9 KB
Committee
