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Cindi Trainor Blyberg's picture

DRAFT charge for Financial Advisory Committee

Draft LITA Financial Advisory Committee Charge

To advise the LITA Board on all fiscal matters of the division; to advise the LITA Executive Director in preparation of an annual budget based on priorities established by the Board; to review and advise units  requesting LITA funds; to review for the LITA Board division activities, within the framework of the strategic plan, for fiscal implications; to review for the LITA Board, on a regular basis, the dues structure and to prepare and submit to the LITA Board periodic analysis of the finances of the division; to consult with the LITA Board on fundraising goals and objectives, especially as they relate to the strategic plan; to review LITA's fiscal relationship to ALA and other divisions and to represent LITA at the ALA Planning and Budget Assembly.

Proposed Composition

LITA Current Past-President - Chair  

2 Members-at-Large serving staggered two year terms

LITA President (ex-officio)

LITA Vice President (ex-officio)

LITA Executive Director (ex-officio)

 

  • A minimum of three members (i.e., a chair and two members)

  • Members will serve two-year terms.

  • Members appointed to this committee need to have a strong background or experience with developing and managing a budget.  Some homework is required, including virtual meetings between ALA Conferences

  • Chair serves as LITA Representative to the ALA Planning and Budget Assembly and as representative at the BARC/Divisions meetings

  • Ex-officio members include LITA Vice President/President-elect, LITA President and Executive Director

  • Additional appointments at the discretion of the Vice-President/President-Elect to assist with periodic reviews

Outstanding questions -

  • Are 2 members at large enough or should it be 4?  How difficult will it be to identify 4 LITA members with a strong background or experience in managing a budget?

  • Should there be a cap on the number of members?

  • ALCTS and LLAMA (and possibly others) have separate fundraising committees

  • Need to update Bylaws/Manual to remove the current Budget Review Committee language - does the Board need to request this?