The Finance and Audit Committee shall be responsible for developing the annual Society budget, and reviewing and authorizing internal and external financial audits as required by applicable laws or as otherwise deemed necessary to effectively provide oversight for the Society’s financial status and integrity. The Finance and Audit Committee shall provide financial reports, recommendations, and guidance to the Board of Directors.
The Finance and Audit Committee has approved setting aside a portion of its net assets to establish a strategic initiative fund. The purpose will be to provide one-time or start-up funding for new projects judged by the Board to be of strategic importance. If the project is envisioned as a long-term source of funding for SSH, then the time frame for generating excess revenue to repay the Strategic Initiative Fund initially and eventually to support the SSH Operating Budget should generally not exceed three to four years.
Strategic Initiative Fund Application Procedure
1. Review the accompanying video.
2. Complete the application (Word Document - 150kb)
3. The SSH Committee and Board structure will be used to review and endorse member proposals/projects. Please work with your committee chair to approve your proposal for moving forward.
4. Once the endorsement of the relevant SSH committee/Board member has been obtained, the Committee Chair/Board member will complete their portion of the Request for Strategic Funding form.
5. The Committee Chair/Board member will then submit the completed form to the Finance and Audit Committee for review and recommendation.
6. The Strategic Initiative form and the Finance and Audit Review and Recommendation will then be reviewed by the SSH Board, which will make the final decision regarding the proposal and its funding.
Strategic Initiative Fund Webinar from SSH on Vimeo.