Committee Chair: Salvatore Monaco
ECIA Liaison: Joseph Gutierrez
Alt. Liaison: David McDonald


Sandy MacGregor, Marti Zieg, Dan Drobnis, Frank Miller, David Sorkin, Todd Handy

Meeting Time & Place

Our meetings are the Monday before the third Thursday of each month, 9:30 AM, Community Center conference room.


Eldorado Community Improvement Association, Inc.

Finance Committee Charter

Revised 9/12/17

This charter describes the Finance Committee's purpose, functions, operation, and work processes so that the committee has a mutual understanding with the community and Board about its responsibilities.


The Finance Committee provides the ECIA Board with advice concerning financial operations and budget administration.  With board direction, the committee provides advice and input to developing the annual budget, reviews expenditures and investments, makes forecasts, and provides advice in developing financial policies and procedures.


The ECIA collects dues and fees to fund the association's services, operations, and property maintenance. Managing these funds is the responsibility of the General Manager under direction of the ECIA Board.  This Charter describes the Finance Committee's purpose, and work processes as the financial advisor to the Board.

Scope of Activities:

Committee activities include:

  • Providing advice and input to the annual budgeting process.
  • Reviewing a schedule of activities and due dates, prepared by the General Manager for submission to the ECIA Board.
  • Reviewing draft budget proposals prepared by the General Manager, committees, and Board, and holding public review hearings as required .
  • Review the General Manager’s annual budget submission and submit recommendations to the Board.
  • Attending the Board's public budget hearing to answer members' questions.
  • Providing advice to the Board on subsequent budget revisions to include:
    • Active and planned capital projects.
    • Long-range capital plans.
    • Budgets and investments.
  • Maintaining, updating, and reviewing Repair and Replacement projections and schedules.
  • Reviewing current expenditures against the budget, and examining variances.
  • Reviewing long-range plans, investments, and investment procedures and policies.
  • Conducting periodic reviews as requested by the Board for compliance with approved financial processes and procedures.
  • Assisting with and reviewing the annual outside audit, including advice on the auditor’s letter of engagement, participating in the auditor’s exit conference, and assuring that the Board understands any comments or notes.
  • Report as needed to monthly board meetings.
  • Provide a report for the board's annual packet.
  • Updating the Committee's Charter as needed.
  • Providing an annual session on financial processes for Board members when requested by the Board.

Meeting Procedures:

The Finance Committee will meet at least once a month, usually the Monday prior to  the regular Board meeting.  A special meeting may be held if requested by the Committee Chair or  the Board.

The General Manager shall provide the Finance Committee with:


  • A preliminary draft of the Operating Budget, Capital Project proposals, and copies of the final, approved budget and supporting materials, and the independent auditor’s complete report.

Before each monthly committee meeting:

  • An operating budget recap, including balance sheet, income and expenditures, and relevant financial transactions and statements.
  • A capital budget update.


  • Updated financial plans, reports and procedures.

A committee member will record minutes. The chairperson will report progress, recommendations, issues, concerns, and contrary views to the board as required.

A quorum consists of 50% of the members. 

Committee Membership:

The Finance Committee is appointed from volunteer Eldorado residents by the ECIA Board.  In making appointments to the Finance Committee the Board will look for a blend of experience, knowledge and viewpoint that represents a cross section of the community. A chairperson shall lead the committee. Each New Year, following the Association’s annual meeting, a chairperson will be selected by committee vote subject to approval by the ECIA Board.

Candidates for committee membership should have a basic understanding of financial and accounting practices, The ECIA Board will designate a committee liaison, usually the Board Treasurer.  Members serve at the ECIA Board's discretion.  After attending three committee meetings, qualified candidates will be recommended by committee vote for Board approval. The attendance requirement may be waived with Board approval.  All appointees to committee membership shall be and shall remain members in good standing for as long as they serve on said committees. 

Membership Responsibilities:

Duties (Bylaws extract, Article XI, Section 2): “lt shall be the duty of each committee to receive concerns from Members on any matter involving Association functions, duties, and activities within its field of responsibility. Subject to the approval of the Board, it shall dispose of such matters in such a manner as the Board deems appropriate or refer them to such other committee, Director or officer of The Association as is further concerned with the matter presented.”

Finance Committee members are expected to be committed to a high standard of professionalism, discretion, and trust. Members may derive no personal benefit or participate on any issue where an apparent conflict-of-interest may exist. Members should strive to understand the community's needs, concerns and views. Members are expected to attend meetings, to prepare themselves for the committee's business, and to participate in work processes, assignments, and projects.