Clement Lau (2011-2013), Chair
Denise Kwan (2010-2012)
Dora Ho (2011-2012)
Jian Anna Xiong (2011-2013)
Lan Shen (2010-2012)
Maggie Wang (2011-2013)
Hong Ma (SE Chapter Treasurer 2011-2012)
Hung-Yun Chang (NE Chapter Treasurer 2011-12)
Klairon Tang (SW Chapter Treasurer 2011-2012)
Mingyan Li (MW Chapter Treasurer 2011-2012)
Yin Xu (S. CA Chapter Treasurer 2011-12)
Yuan Yao (MA Chapter Treasurer 2011-12)
Zheng (Jessica) Lu (N. CA Chapter Treasurer 2011-12)
Songqian Lu (ex-officio, CALA Treasurer)
Is this an interim or annual report? Interim report
List significant activities the committee has done since last report:
• Yuan Yao was elected as the Mid-Atlantic Chapter Treasurer (2011-12) in mid-Sept.
• Between late-Sept and mid-October, the Committee reviewed the treasurer’s 2010-2011 report and accepted the presentation with no further comments. Based on the data, the Committee believes the association is financially stable.
• The Committee reviewed the treasurer 2011 Q3 report and accepted it as is. The Committee is pleased to find the association’s net assets have increased by 7% or $10,408.48 in this quarter from $149,681.70 to $160,090.18.
• The Committee conducted a brief survey of the chapter treasurer on their accounting practices and communication modes in early November.
• The Committee drafted a work plan for this term.
List committee recommendations, if any, to the Board:
• In the 2010-2011 annual financial report, the Treasurer suggests “to use a database to manage CALA financial records more efficiently.” The Finance Committee supports this suggestion and would like to recommend to the Board that this suggestion should be pursued because it would help CALA to manage its assets more prudently.
• The Treasurer in her 2010-2011 report also suggests that CALA needs “to create the guidelines for CALA scholarship investment operations and management.” The Finance Committee also supports this suggestion and would like to recommend to the Board that this suggestion should be pursued as soon as possible. In fact, the Finance Committee has incorporated this suggestion in its work plan. The Committee will draft a set of investment guidelines by the end of May for the Board to review and approve.