The 2009 Audit Committee is co-chaired this year by Jim Wilson and George Loney. Bud Croom also serves as a member of this committee.
The Audit Committee is responsible for overseeing financial activities of the organization and carries out this role by serving as an advisor to the Treasurer and other members of TRAN and conducting audits of financial records and business processes to ensure that funds are properly managed and financial activities adhere to generally accepted accounting principles and business practices.
The Audit Committee provides guidance in the preparation of the annual operating budget for TRAN, monitors activities of various committees and other budget managers during the fiscal year, and coordinates with the Treasurer in requesting Board action when approved budgets need to be revised during the fiscal year.
The Audit Committee, in coordination with the Treasurer, develops policies and procedures related to financial matters for presentation to the Board and subsequent inclusion in the TRAN Operations Manual after Board approval.