Audit Committee

Committee Charge:

Maintain accounting and reporting procedures for the UMAST organization. While maintaining 25% over the 2007 ending balance.

Committee Objectives:

To strengthen financial controls and continue to be accountable to the UMAST Executive Council and the membership

• Conduct analysis of 2007 expenditures for a baseline of possible 2008 expenditures
• Conduct analysis of the last several years of UMAST expenditures to get an overall trend of UMAST financial health
• Continue accountability measures by having only the UMAST President and Treasurer on the checking account
• Provide monthly financial reports to the executive council
• Update account balances routinely to ensure accuracy
• Provide account balance to the various committee chairs and co-chairs as needed
• Assist in obtaining alternative corporate sponsorship will also be solicited for various UMAST activities.
• Monitor expenditures during events/conferences in order to flag (any) expenses.