SAINT LOUIS MHB – FINANCE—INVESTMENT COMMITTEE CHARTER
PURPOSE:
The City of Saint Louis Mental Health Board of Trustees’ (Saint Louis MHB) Finance Committee is an ad-hoc committee formed to oversee the financial well-being of MHB, ensuring good stewardship of public funds and investments made to the community.
ROLES AND RESPONSIBILITIES:
• Review quarterly financials.
• Discuss and approve any cost-of-living adjustments (COLA) for the next Fiscal Year Grant Allocations and staff.
• Mid-year review of Net Position in anticipation of budget season.
• Review the calendar year Investment Management report.
• Discuss and approve parameters of upcoming FY Budget.
• Review and approve the next Fiscal Year Budget to be placed before full Board at their June meeting.
• Review and approve the Unaudited Year-End Financials.
• Review and approve any changes to MHB’s Accounting Policies and Practices prior to the audit each fiscal year.
• Discuss and approve parameters of upcoming Audit.
• Review and approve the Audit to be placed before the full Board at their November meeting.
COMMITTEE COMPOSITION:
The current configuration of the MHB Finance Committee includes three (3) Trustees, one of which is the Secretary/Treasurer.
STAFF TO THE COMMITTEE:
Executive Director, Deputy Director, Director of Operations, Controller, and Legal Counsel