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The Budget and Finance Committee is a standing advisory committee created by the Leisure World Board of Directors. It shall consist of residents of the Community, representatives of Leisure World organizations and management. Members are recommended by the president of each Mutual and appointed by Chair of the Leisure World Board of Directors.

The Committee shall: act as a focal point for reviewing any and all requests for expenditures that may be recommended by other Advisory Committees of the Leisure World Board of Directors.

The Committee shall: review changes to financial statement presentations and budgetary presentations that may be recommended by management.

The Committee shall: review and recommend to the Leisure World Board of Directors annual operating budgets of the Leisure World of Maryland Corporation and the Trust, including budget assumptions, schedule of fees, capital purchase requests, and funding for maintenance and contingency reserves.

The Committee shall: review and recommend to the Leisure World Board of Directors any request for special appropriations that were not included in the annual budget.

The Committee shall: review on a monthly basis the financial statements as presented by management.

The Committee shall: review with management policies relating to the investment of Trust funds.

The Committee shall: Assist other Advisory Committees in the development of long-term plans for expansion of various Community facilities from a financial standpoint.

The Committee shall: review the Strategic Plan and submit semi-annual reports to the Chairman, outlining the committee's status regarding the Strategic Plan; summarizing the committee's accomplishments during the report period; and recommending areas of improvement and goals for the future.