The Finance and Grants Leadership Team - sometimes called the Budget Team - reviews our organization’s internally-prepared budget. The Team also liaises with staff to create accurate financial reports. This Team also reports on any budgetary concerns or opportunities (dwindling capital for special projects, a potentially lucrative partnership, etc.) This Team also establishes guidelines for reserve funds, lines of credit, and investments. If your board does not have a separate standing or ad-hoc audit Team, the finance Team will also help select an auditor and work with them to conduct regular audits. The Fundraising and Grants Leadership Team plans and directs our organization’s fundraising efforts. This Team isn't solely responsible for raising money, but it certainly spearheads the board's fundraising activities. This Team works with staff to establish a fundraising plan, which may include grants, annual events, auctions, end-of-the-year requests, and other activities. This Team often works alongside staff on their fundraising efforts and sometimes even takes the lead for specific initiatives. This Team also ensures the timely, appropriate acknowledgment of donors and keeps track of donor solicitation expenses. The Audit Leadership Team selects and works with an auditor for your organization's annual audit. This work is a subset of the Finance and Grants Leadership Team and acts as a separate ad-hoc Team. The annual audit is generally our organization's only outside review, making it a critical governance tool - so this Team’s responsibilities are paramount!