Committee Chair: Dan Drobnis
ECIA Liaison: Joseph Gutierrez
Alt. Liaison, Mike McDowell


Sandy MacGregor, Gale Oppenheim, Salvatore Monaco

Meeting Time & Place

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


Eldorado Community Improvement Association, Inc.

Finance Committee



The Finance Committee serves the community by providing the ECIA Board with financial planning and oversight.  With board direction, the committee compiles annual budgets, assesses capital expenditures, makes forecasts, monitors expenditures and investments, reports status, assists in developing financial policies and procedures and monitors adherence to them.


The ECIA collects dues and fees to fund the association's services, operations, and property maintenance. Managing these funds is the responsibility of the ECIA Board, Treasurer, General Manager and Finance Committee.

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.

Scope of Activities:

The Finance Committee serves the ECIA Board in an advisory capacity, and is staffed by volunteer Eldorado residents.

Committee activities include:

  • At the Treasurer's instruction, overseeing the ECIA's annual budgeting process:
  • Publish a schedule of activities and due dates, reviewed by the ECIA Board.
  • Receive budget proposals from the ECIA staff, Board, committees and members, and hold review hearings.
  • Submit a draft budget and recommendations to the Board.
  • Attend the Board's public hearing to answer members' questions.
  • Assist the Board with subsequent budget revisions.
  • Assist the General Manager to maintain the budget, spreadsheet, documents and files.
  • Assessing capital expenditures:
    • Financial review and recommendation on active and planned capital projects.
    • Receive public input.
    • Maintain a long-range capital plan
    • Plan funding requirements
    • Assist the General Manager to maintain records,
      documents and files
    • Monitoring plans, budgets, and investments:
  • Review long range plans and expense projections, including Repair and Replacement projections and schedules.
  • Review current expenditures against the budget, and examining variances.
    Monitor investments, and investment procedures and policies.
  • Obtain information, clarifications and explanations from the ECIA staff.
  • Conduct periodic reviews for compliance with Board-approved financial processes and procedures.
  • Assist with the annual outside audit, including consulting on the auditor’s letter of engagement, participating in the auditor’s exit conference, and assuring that the Board understands any comments or notes.
    • Communicating with the ECIA Board:
  • Report progress, concerns, and issues.
  • Seek approval for recommendations, projects, and budgets.
  • Provide a report for the board's annual packet.
  • Meet with the board as necessary.
  • Recommending policies and procedures.
  • Annually reviewing the Finance Committee's Charter.
  • Providing an annual session on the ECIA budget process for new Board members.

Meeting Procedures:

The Finance Committee will meet at least once a month, about a week before the regular board meeting, unless jointly agreed otherwise by the Chair, Treasurer and General Manager. A notice will be published in the association's newsletter.

The General Manager shall provide Finance Committee members with:

  • Annually:
  • 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 meeting:
  • An Operating budget recap, including balance sheet, income and expenditures.
  • A capital budget update
  • Periodically: Updated financial plans, reports and procedures.
    • The meeting's agenda should typically include:
  • An open forum and guest presentations.
  • ECIA Board instructions, advice and polices.
  • A review of the monthly budget, variance, and investment reports.
  • A review of new and open action items.

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

Annually, the committee will conduct budget hearings. The chairperson will call additional meetings if needed. Motions are adopted by a majority of those voting, with each member having one vote.

Committee Membership:

In its makeup, the Finance Committee should strive 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 and the ECIA Board's confirmation. Candidates for committee membership should have a basic understanding of financial and accounting practices, or should plan to acquire an understanding.  After first attending three committee meetings, qualified candidates will be recommended by committee vote for Board approval. The attendance requirement may be waived with Board approval. The ECIA Board will designate a committee liaison, usually the Board Treasurer. Members serve at the ECIA Board's discretion.

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 need to be committed to a high standard of professionalism, discretion, and trust. Members should derive no personal benefit from their office, nor participate on any issue where an apparent conflict-of-interest may exist. Members should strive to understand the community's needs. Members' actions should reflect residents' values, concerns, and views. One measure of success is how well members' decisions embody the overall good of the community. Members are expected to attend meetings, to prepare themselves for the committee's business, and to participate in work processes, assignments, and projects.



To fulfill its responsibilities, the Finance Committee needs:

  • The confidence of the Association’s members and Board.
  • Vistas newsletter, bulletin boards, and marquees for publicity.
  • Active participation of the General Manager.