The Finance Committee membership is comprised of the Officers (President, President-Elect, Secretary, and Treasurer) and the two appointed members of the Board who make up the membership of the Executive Committee.
It is the responsibility of the Finance Committee to monitor the monthly income and expenditures and recommend to the Board yearly budgets and long-term financial plans for the organization. The committee met and approved a budget for the next fiscal year, July 1, 2020 to June 30, 2021 which was presented to the full Board and approved in May 2020. The budget will be presented to the general CLN membership at the Annual Meeting on June 23, 2020.
Overall, for the fiscal year ending June 30, 2020, CLN has remained financially sound with positive cash flow to meet ongoing expenses to operate the CLN office and meet program plan needs. Required financial documents (Federal 990 report) was placed on extension, were prepared and submitted on behalf of CLN by Seward & Monde, Certified Public Accountants, December 19, 2019 to meet federal filing requirements.
Moreover, in light of the COVID-19 pandemic, the CLN in March 2020 applied for and received grant funding from the two federal Small Business Administration opportunities including:
Sheila B. Solernou, MSN, RN
Treasurer & Chair of the Finance Committee