United Way of Central New Mexico

Finance Committee members review monthly expenditures and financial statements.

The Finance Committee Chair gives a financial status report at Executive Committee meetings, which are held bi-monthly. The full Board of Directors, who meet 6 times a year, receives a financial status report at each of their meetings.

The CEO/President at United Way of Central New Mexico is Jack Holmes, who has been a United Way Executive since April 1972 and has been at UWCNM since May 1997. Jack Holmes attends all Finance Committee Meetings, as do staff members, LaDonna Hopkins, Vice President and Chief Development Officer, Lisa Pillar, Chief Financial Officer, and Randy Woodcock, Vice President and Chief Operating Officer. No staff member of UWCNM is authorized to make policy decisions of any kind, or financial decisions that are outside of the annual budget. The Finance Committee and the entire Board of Directors approve the budget each year.

The reserve funds of UWCNM include three months of operating expense and one month of Participating Organization allocations.

At UWCNM, authorization for a line of credit can not be secured without the approval of the Finance Committee and the full Board of Directors.

UWCNM reports only those campaign pledges that have actually been received in writing. Verbal commitments of what might be received are never included.

The UWCNM volunteers who decide where the money is to be allocated are called the Community Impact Council. They receive funding recommendations from over 300 local volunteers who have examined the programs that have requested funding.

The Finance Committee determines how much funding is available to allocate and the entire Board of Directors must approve that amount. Those computations include deducting what is known as pledge loss. Pledge loss is made up of all the pledges that are not paid. Sometimes people cannot complete their pledges. They may move or lose their job. Obviously, United Way cannot pay out money that has never been received. So, pledge loss is estimated by the Finance Committee based on past experience and is deducted from the total dollars available for distribution.

The local volunteers begin their funding recommendation process with dollars we are certain will be received and will be available for distribution.

The Finance Staff at UWCNM have regular and frequent contact with the Finance Committee members. The staff is authorized and expected to contact the volunteer leadership should they have concerns regarding any financial transaction at UWCNM.

Every year as part of its administrative expense, UWCNM pays a reputable local accounting firm to conduct a certified audit. The Board of Directors schedules a presentation of that report each year at its October meeting. A copy of the full audit is available for any donor at the UWCNM offices or on this web site.

We are confident that extensive safeguards currently exist to insure the safety of the generous contributions made by the people of this community to United Way of Central New Mexico.

Chair, UWCNM Board of Directors