Finance committees: Duties, responsibilities, and best practices

The blog post titled "Finance Committee's Duties, Responsibilities, and Best Practices" discusses the role and importance of finance committees within condominium associations. It outlines the duties and responsibilities of finance committee members, which typically include reviewing financial statements, budgeting, overseeing reserve funds, and providing financial guidance to the board of directors. The article emphasizes the need for transparency, independence, and expertise within the finance committee. It also provides best practices for effective financial management, such as regular reporting, establishing financial policies and procedures, and conducting audits. By fulfilling their duties diligently, finance committees play a vital role in ensuring the financial health and stability of the condominium association.