The Committee is composed of at least one member from each district in the state. It shall be the duty of the District Governor to appoint a member from his/her District and to confirm that he/she will serve. The Council, at its first meeting, will appoint a Chairman and a Vice Chairman for this Committee.

A. Finance Function
3. Objective — To assist the Council of Governors in its constitutional responsibility of establishing policies and procedures as related to management and control of the business, property and funds of Multiple District 34 and periodically review the financial status of the Multiple District.
4. Duties – Works with the Council Chair, Multiple District Staff, Multiple District Secretary, and Treasurer as well as other committees on financial matters to include the following:
(d During the month of April or May, develop a preliminary budget for the next fiscal year. Compile information from Multiple District Office staff, Multiple District Office Review Committee Chair, and Multiple District Treasurer.
(e At the first Council of Governors meeting of the year, present a Multiple District budget for the current fiscal year to the Council of Governors for final adoption.
(f Review bank accounts, investments, and the disbursement and transfer of funds.
(g Periodically review all financial policy and makes recommendations to the Council of Governors for any change. Request the Council of Governors to engage independent counsel for advice should the need be identified.

B. Office Operations Function
Duties – The Committee shall conduct an annual performance review of the Multiple District Office and staff; review all management, control of business procedures and fixed assets of the Multiple District.
(a The Committee shall meet with the staff at the beginning of each fiscal year for orientation, and at least ninety (90) days prior to the Annual Convention of each year, or at the request of the seated Council.
(b The Committee shall designate the fiduciary institution for the Multiple District funds; make recommendations to Council for any changes to office operations, to include employees and establishment or adjustments in the annual compensation for each employee.
(c Any changes requiring a vote by the delegates to the Multiple District Annual Convention must be sent to the Constitution and By-Laws Committee more than
ninety (90) days prior to the Multiple District Annual Convention in order to be presented to Council for its approval and be presented to the delegation at the Multiple District Annual Convention for adoption.

C. Audit Committee Function
1. Objective — To assist the Council of Governors in fulfilling its oversight responsibility relating to the integrity of the financial statements and financial reporting, the annual audit of the financial statements, compliance with legal and regulatory requirements, accounting systems and internal controls, and fulfillment of other responsibilities set out herein.
The Vice Chairperson of the Finance and Operations Committee shall serve as Chairperson of the Audit Committee. The committee shall be composed of the current fiscal year Finance and Operations Committee and a current First Vice District Governor.
2. Duties — The committee shall:
(a Upon close out of the previous fiscal year financial accounts, conduct a thorough review of the financial statements covering the preceding fiscal year. The review shall be conducted in accordance with routine analytical accounting procedures to the best of the committee’s knowledge. The review and report should be completed no later than March 15 of the current fiscal year.
(b Review bank accounts, investments, and the disbursement and transfer of funds.
(c Periodically, in conjunction with the Finance and Operations Committee, review all financial policy and makes recommendations to the Council of Governors for any change.

D. Meetings – The committee shall meet as often as necessary to perform its duties as prescribed in this policy. The chairperson may call a meeting at any time as he/she deems advisable. Other committee members may request meetings through the chairperson of the committee.

E. Reporting – The committee shall prepare a report of findings and recommendations for submission to the Council of Governors as set out herein.