Committee Descriptions

Finance Committee

Purpose: The Finance Committee will review SWPA’s finances and advise the Presidents’ Council and the Executive Committee on financial matters.

Specific issues for the committee:
•    To advise on budget allocations. This advice should arise from considering the following:
o    financial risks to the organization
o    reasonableness of the projected income estimates

•    To determine each year how SWPA should allocate earnings in its endowments. Only earnings are subject to these decisions. The corpus of the funds, including investment value changes, must remain in the endowments.
o    Allocation options for earnings are:
•    Use earnings to pay for the designated speakers.
•    Allocate earnings to increase the endowment corpus. This action will restrict SWPA’s use of those funds for expenses. Adding to the endowment corpus can re-establish the endowment’s corpus value in years when the endowment’s corpus loses value, or build the corpus when the organization has sufficient funds to pay its speakers from operations.
•    Accumulate earnings for future expenses. SWPA may accumulate earnings for future years for the designated functions.
o    The Treasurer will report to the Presidents’ Council the available earnings as of the end of each fiscal year (June 30).
o    The Committee will make a recommendation about allocation of the prior June 30 earnings at the annual Executive Council pre-convention meeting. At this time, the Committee will know SWPA’s budget positions.
•    The Committee will review proposed speakers for each endowed series and confirm that the speaker meets the requirements designated by the endowment.
•    The Committee will advise the Presidents’ Council about endowment investment accounts.

Committee operation:
•    The Committee will consist of at least two Executive Council members and other SWPA members with financial experience appointed by the Presidents’ Council.
•    The Committee will officially communicate with the Presidents’ Council through the current President.
•    The Committee will have access to all financial reports.

Initial composition:  Appointed in 2010

Awards Committee

Membership and terms of office:
The Awards Committee will be chaired by an Executive Council (EC) member appointed by the Presidents’ Council (PC). One additional EC member will also serve on the committee. The committee chair may appoint up to 3 SWPA full members to the committee. All members will serve three year terms with the exception of the first year of the committee. The Chair will serve a three-year term and the other EC member will serve a two-year term. This staggering will ensure continuity of EC membership across personnel changes when terms end. There are no term limits. If an EC member does not continue on the EC, the PC will appoint a new EC member to fill the position, though the former EC member may continue on the committee if appointed by the committee chair.

The Awards Committee is responsible for the following:
•    Developing policy recommendations for awards
•    Recommending award amounts for the coming convention
•    Screening abstracts to select the award finalists
•    Arranging for 3 full-member judges to hear and rate the final presentations in each award category
•    Ensuring impartiality and avoiding the perception of conflict of interest in all judging
•    Revising/developing criteria for judging the presentations
•    Communicating to the Secretary and the Treasurer the results of the competition in time for preparation of certificates and checks for the awards ceremony.
•    Officiating in announcing the results of the competition at the Annual Awards and Members Meeting.

Initial composition:  Appointed in 2010