ACR Committee on Finance

Opportunity Overview

The ACR Committee on Finance has the following open positions. All positions are virtual only.

• ACR Member-at-Large (2)
• Fellow-in-Training (1)

Eligibility

Please review the volunteer eligibility guidelines based on your member type and industry involvement before submitting a volunteer application.
Volunteer Eligibility Guidelines >

Committee Description

The Treasurer of the ACR and Rheumatology Research Foundation serves as the Chair of the ACR Committee on Finance. The ACR Committee on Finance is responsible for the following:

• Monitoring the financial policies, investments and expenditures of the ACR and Foundation
• Making recommendations for, and assisting in, the development of financial resources needed to carry out the programs of the ACR and Foundation
• Reviewing and approving the budgets developed by all ACR and Foundation
• Reviewing and approving the financial audits of the ACR and Foundation
• Organizing and establishing subcommittees and task forces as the Committee deems necessary or appropriate to carry out its objectives
• Monitoring not-for profit issues of concern to the ACR and Foundation

The ACR Committee on Finance has identified 3 goals:

• Goal 1: Sustain financial structure that meets mission needs, goals, and aspirations over time
• Goal 2: Sustain business model that finds the necessary revenues and efficiently and effectively manages expenditures over the fiscal years
• Goal 3: Sustain financial function and organizational infrastructure that will support and contribute to organizational success; additional reviews could be for Pricing Matter

Responsibilities

• Review and make recommendations to the Boards regarding budget, including the process used in developing the budget utilizing the new TIER process for ACR
• Review periodically operating cash flows, liquidity position, and performance against budget and projections for the Foundation
• Review Operating Reserves Policy for the Foundation as it relates to cash balances on hand versus invested
• Lead Board review taking into consideration the new Strategic Plans for both the ACR and the Foundation

The ACR staff is responsible for the administration and project management of all initiatives and programs.

Time Commitments

Virtual

• Meetings: Two meetings each year, held in April/May and September/October on Saturdays from 10:00 AM–2:00 PM ET
• Ad hoc meetings may be scheduled on Saturdays or some evenings to discuss time-sensitive topics such as pricing, reserves, liquidity, etc.

Recommended Qualifications

The committee welcomes all interested volunteers who demonstrate:

• Commitment to the organization's mission and strategic directions
• An understanding of, and experience with, good financial management and reporting practices
• An appreciation of the kind and level of financial information needed at a board level to support decision making
• An ability to commit the time required to fulfill the responsibilities described