Financial Assets Oversight Committee
Chairperson: Ray Hander
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Special Note: The current Alaska Chapter Treasurer will be a standing member on the Committee. To maintain continuity and historical perspective to the FAOC, the Chair and Vice Chair shall serve staggered four year terms. However, the Treasurer may only serve two years because of term limits set forth in Chapter Bylaws. The FAOC Chair’s four year term shall expire every other mid-term of the Treasurer’s term. The vice Chair’s term will be offset by two years from the Chair’s term. Any additional members over a three person committee will have a four year term (if needed) staggered in respect to current FAOC membership.
Background and mission:
The Financial Assets Oversight Committee (FAOC) is a standing committee of the Alaska Chapter, established by a Chapter unanimous vote approval during the 2005 Chapter Business Meeting. Guidance to the FAOC is provided in the Chapter’s Procedure Manual under the Chapter Financial Plan within the Chapter Investments section. The mission of the FAOC is to oversee, advise, and make recommendations for directing the financial assets of the Chapter by way of tracking the Chapter’s monetary holdings that are invested through financial or banking institutions.
- Actively track Chapter investments by understanding investment strategy, structure, and detail via consultation with financial or banking institution representative(s).
- Hold FAOC advisory meetings with financial or banking institution representative(s) on a quarterly basis at a minimum.
- Report to the ExCom and membership on a quarterly basis or other desired time interval about investment status and activity.
- Be prepared to hold the Chair, Vice Chair, and member positions for up to a minimum of four years for the sake of consistency between the financial or banking institution(s) and the Chapter.