INTRODUCING THE UNITED WAY FINANCE COMMITTEE:

The Finance Committee is responsible for the review of all transactions, cash disbursements, and investments to insure all the proceeds collected from the community are properly disbursed to our umbrella organizations. The committee reviews all United Way of Milford operating expenses and tracks those expenses against previous year’s expensesto insure United Way operations and campaign expenses are kept to a minimum. The committee contracts with an accountant who collects all daily business transactions, and provides a monthly P & L Statement, Balance Sheet, andexpense sheets for the committee and the United Way board members’review. The Finance Committee also contracted witha local auditing company 3 years ago to verify the accounting records and that the United Way and our accountant follow all acceptable industry accounting practices. The auditors provide this committee and the board with a yearly financial audit report and provided suggestions for improving business efficiency practices which the board has implemented. The committee also contracts with a financial advisor who maintains a portfolio of investment stocks and bonds which are held for emergencies such as disaster relief and new programs. The committee reviews the investment portfolio twice a year to review stocks and bonds performance.

unitedmil