Finance Committee

Wayne Blair, Treasurer

University Ombudsman

UNC-Chapel Hill

wblair@unc.edu

Nick Diehl, Assistant Treasurer

Deputy Ombudsman,

American Red Cross

diehln@usa.redcross.org

COMMITTEE MEMBERS:

Viola Abbitt, Vicky Brown, Diane Dorion, Ted Williamson, Gary Yamashita, Victoria Dowd

PMA liaison: Nancy Furstenburg

TO JOIN THE COMMITTEE

Please contact The International Ombudsman Association at (908) 359-0246

MISSION:

The IOA Finance Committee institutes the necessary financial strategies, processes, and controls to meet all IOA goals and objectives.

RESPONSIBILITIES:

Working with PMA and IOA’s accountant and auditors, the Treasurer, Assistant Treasurer, and Finance Committee are responsible for overseeing IOA’s fiscal operations, developing the annual operating budget, monitoring IOA’s reserves and investments, including approval of all expenses, the annual audit and the annual tax filings. Our overall budgeting approach is to be fiscally conservative, estimating expenses at the upper range and estimating revenues at the lower range.

2010 ANNUAL REPORT

ACCOMPLISHMENTS:

•  IOA’s income was lower in 2010 compared to previous years,generally due to the fiscal realities of the current challenging economy. We projected a deficit of approximately $77,000. However, we are pleased to report that the actual deficit will be realized at approximately $17,500.
• In response to these economic circumstances, the Finance Committee instituted a more structured budget request process that was supported and adopted by the committees.
• We anticipate the fiscal challenges to continue in 2011 and adversely impact IOA’s revenue stream.
• The current economic realities aside, we are confident, working collaboratively, that we will continue to be in a position to grow our organization as we implement our long-term strategies.