Policy 14

Standing Finance Advisory Committee
May 22, 2025

Definition
The Finance Advisory Committee is a standing committee of the Mendocino Coast Health Care District (MCHCD), established in the Board Bylaws to provide financial oversight and recommendations to the Board. The Committee operates in accordance with MCHCD Bylaws and is subject to the Ralph M. Brown Act.

Purpose
The Finance Advisory Committee provides independent review and advice on financial matters affecting the District. The purpose of the Committee includes, but is not limited to:

·     Ensuring an annual independent audit is performed;

·     Presenting a recommended annual budget to the Board each June for adoption;

·     Recommending and overseeing fiscal policies, investment strategies, and accounting and budgeting practices;

·     Reviewing monthly and quarterly financial statements;

·     Reviewing and receiving reports from the Measure C Oversight Committee;

·     Supporting long-term financial planning and sustainability of the District.

Membership and Structure
The Committee shall be chaired by the Board Treasurer. Membership shall include not more than two Board members and up to six members of the public with relevant expertise or interest in public finance, healthcare, or governance. Members shall be appointed by the Board Chair with ratification by the full Board at a publicly noticed meeting. The Committee shall meet at least quarterly, or more often as necessary, and shall report to the Board following each meeting. The District Manager or consultant, and/or Chief Financial Officer shall serve as staff support.

Reporting and Compliance
The Finance Advisory Committee serves in an advisory capacity only and holds no decision-making authority.  The Committee is subject to the notice, agenda, public participation, and open meeting requirements of the Ralph M. Brown Act.  All recommendations shall be forwarded to the full Board for consideration and possible action.

Approval Signatures:

Paul Garza Jr.

Paul Garza Jr., Board Chair

 

Date Adopted: May 22, 2025

 

Attest:

Susan Savage

Susan Savage, Board Secretary