Volunteer Member of Finance Committee

Restorations Second Stage Homes (“Restorations”) exists to support survivors of sexual exploitation and human trafficking by providing long-term residential housing (at "Nancy's House") and survivor-led peer programming.

Nancy's House is the first of its kind second-stage, long-term transitional home for survivors of trafficking and exploitation in Burlington, Ontario. Providing a safe home for 3 survivors of human trafficking and through a trauma informed and strengths-based approach, Restorations builds and nurtures trusting, long-term relationships between survivors of sexual exploitation and staff, volunteers, and the wider community as a foundation to recovery, healing, empowerment, and success.

Restorations also employs individuals with lived experience of trafficking and exploitation as Peer Advocates to deliver the Survivor-Led Peer Advocacy program. The program exists to promote collaborative relationships that empower survivors.

The Finance Committee is a standing committee of the Board of Directors. The purpose of the Finance Committee is to provide financial analysis, advice and oversight of the organization’s budget. The Finance Committee's sole responsibility is to ensure the organization is operating with the financial resources it needs to provide the programs and services of Restorations and achieve the goals set annually by the Board of Directors.

Responsibilities of the Finance Committee include:
• Ensure that accurate and complete financial records are monitored.
o Monitor income and expenditures against projections.
o Present monthly financial statements to the BOD via the Treasurer.
o Review and recommend financial policies to the BOD, including ensuring adequate internal controls and maintaining financial records in accordance with standard accounting procedures.

• Oversee annual budget preparation.
o Work with the ED/CEO, Bookkeeper, and Treasurer to propose an annual budget that allocates resources toward the accomplishment of the organization’s mission, to be presented for BOD approval. 
o Ensure the budget accurately reflects the needs, expenses and revenue of the organization.
o Ensure that the budget process is carried out efficiently, that key elements of the strategic plan are addressed, and that previously made decisions are properly interpreted in the budget’s numbers.

• Safeguard the organization’s assets.
o Review proposed new funding for ongoing financial implications, recommending approval or disapproval to the BOD.
o Ensure that the organization has the proper risk-management provisions in place by creating, approving, and updating as necessary, policies that help ensure the assets of the organization.

• Oversee the annual audit
o Recommend to the BOD the selection of an auditor, with a thorough review of the auditor every five years. 
o Oversee the engagement and performance of the audit.

• Ensure compliance with federal and provincial requirements related to the organization’s finances.
o Ensure the organization maintains adequate insurance coverage.
o Ensure all legal and governmental filing deadlines are met.