The Department of Colorado Finance Committee plays a vital role in ensuring the financial strength, accountability, and long-term sustainability of the American Legion Auxiliary, Department of Colorado. As stewards of the Department’s financial resources, the committee provides oversight and guidance to help ensure that funds are managed responsibly, transparently, and in accordance with the Department Constitution & Bylaws, applicable state and federal regulations, and Generally Accepted Accounting Principles (GAAP).

The Finance Committee serves in an advisory capacity to the Department Executive Committee (DEC), helping safeguard the assets entrusted to the organization by its members. Through careful financial oversight and strategic planning, the committee ensures that resources are available to support the Department’s mission of serving veterans, military members, their families, and our communities throughout Colorado.

The committee’s responsibilities include reviewing and recommending the annual Department budget, monitoring revenues and expenditures to ensure alignment with approved budgets, reviewing financial statements and reports for accuracy and completeness, and assisting with long-range financial planning. The committee also evaluates financial policies, internal controls, and operating procedures to promote sound fiscal management, accountability, and compliance with governing documents and applicable laws.

In addition, the Finance Committee reviews audit reports, financial reviews, and required regulatory filings, including IRS reporting, and provides recommendations to Department leadership to strengthen financial practices, improve operational efficiency, and minimize organizational risk.

Fiscal responsibility is essential to maintaining the trust of our members and ensuring the continued success of the Department. Through transparency, accountability, and prudent stewardship of financial resources, the Department of Colorado Finance Committee helps preserve the organization’s financial health while advancing the mission of the American Legion Auxiliary. Every financial decision made today helps ensure that the Department can continue supporting programs and services that honor our veterans, strengthen military families, and serve communities across Colorado for years to come.

Responsibilities

The Finance Committee’s responsibilities include, but are not limited to:

• • • Reviewing and recommending the annual Department budget for approval by the DEB

    • Monitoring Department revenues and expenditures to ensure alignment with the approved budget

    • Reviewing regular financial reports and statements for accuracy, completeness, and consistency

    • Assisting with long-range financial planning and fiscal sustainability

    • Reviewing internal controls, financial policies, and procedures to support accountability and compliance

    • Reviewing audit reports, financial reviews, and required filings, including IRS reports, when applicable

    • Making recommendations to Department leadership to strengthen financial practices and risk management

Commitment to Stewardship and Transparency

The American Legion Auxiliary, Department of Colorado is committed to maintaining the highest standards of fiscal responsibility. The Finance Committee plays a critical role in upholding this commitment by promoting transparency, accountability, and prudent use of resources to advance the Auxiliary’s mission throughout the state.