Finance Committee

Objectives

• Provide oversight of the Association’s financial resources by reporting accurate and reliable information to the AEM Board of Directors.
• Monitor, manage and protect the assets of the Association by providing an adequate system of financial controls.
• Recommend AEM budget to the Board and oversee the budget throughout the year.

Responsibilities

Review and recommend to the AEM Board of Directors for approval:

1. The annual budget.
2. The investment policies and guidelines of the Association.
3. External auditor selection and the annual audit.
4. A long-range program to assure the financial viability of the Association.
5. Any other finance-related tasks as directed by the AEM Board of Directors.

2025 Priorities

• Monitor AEM 2025 actual financial results versus budget.
• Monitor AEM cash flows and financial viability of individual exhibitions, programs and services.
• Continue to assess financial and cashflow projections for AEM with an emphasis on the CONEXPO-CON/AGG three-year show cycle, currently 2024 to 2026.
• Review and recommend AEM 2026 budget to Board of Directors for approval.

Leadership

• Chaired by the AEM Treasurer. Serves a one-year term. Elected by the AEM Board of Directors each November. In practice, Treasurer serves two to three consecutive one-year terms.

Composition

• 15 to 18 members. A cross-section of individuals is selected based on financial, AEM trade show and member services background.
• AEM seeks top or high-level executives and financial leaders from member companies to serve, with an emphasis on diversity of race, ethnicity, gender, age and background along with diversity of product groups.
• The committee aims to have a 70-30 split between Directors and non-Directors.
• Terms of two years with approximately 50% of the committee anticipated to turn over each year.

Meetings

• Three to four virtual meetings throughout the year depending on activities and issues.
• In-person meeting attendance at AEM’s Milwaukee office is welcomed.