The Audit Committee of the Rotary Club of Lansing shall be responsible for:

a) the maintenance of adequate books of account; b) all funds and securities; c) all the duties assigned to them by the Board of Directors of the Rotary Club of Lansing including but not limited to:

  • Render standard financial reports to the Board of Directors of the Club and Foundation, and prepare other ad hoc reports as requested by the Boards
  • Ensure that all federal, state, and local regulatory and financial reports are filed correctly and in a timely manner
  • Oversee the preparation of the annual budgets and monitor their implementation
  • Contract with an independent CPA to conduct the annual financial audits
  • Sign financial forms and other instruments as necessary
  • Be responsible for adequate diversification of deposits and investments to ensure the safety of principal, provide for liquidity and obtain a competitive rate of return on investments
  • Establish and maintain effective internal controls to safeguard assets and maintain the integrity of financial statements

The Finance Committee will complete the aforementioned duties for both the Rotary Club of Lansing and the Rotary Club of Lansing Foundation, with the objective to conduct the financial affairs of both organizations so as to maintain their tax-exempt status.