The Finance Committee shall be responsible, in a general sense, for setting the fiscal policy and supervising the financial affairs of the Society.
 

By-Laws Relating to the Treasurer and Finances:
 

By-laws 7.9, 9.4, 14.7, and 16.11 state that the Board of Directors, officers, members of the Executive, and members of committees “...shall serve without remuneration. However, members of committees may be paid expenses incurred in the performance of their duties. Such payments must be authorized by the Treasurer.” Such authorization from the Treasurer must be received prior to incurring such expenses, and in such cases, reimbursements will be made upon presentation of receipts.

8. EXECUTION OF DOCUMENTS

8.1 The President, jointly with the Executive Secretary or Treasurer, shall sign all contracts, documents and instruments in writing requiring the signature of the Society, and all contracts, documents and instruments in writing so signed shall be binding on the Society without any further authorization or formality. The Board of Directors shall have the power from time to time by resolution to appoint an officer or officers on behalf of the Society to sign specific contracts, documents and instruments in writing. The seal of the Society when required may be affixed to contracts, documents or other instruments in writing signed as aforesaid or signed by any officer or officers appointed by resolution of the Board of Directors.

10.5 The Treasurer shall:

a) have charge and custody of, and be responsible for, all funds, securities, books, vouchers and papers of the Society; all such funds and securities shall be deposited in the name of the Society in such banks, trust companies or other depositories as may be selected by the Executive Committee;
b) submit, at the request of the Executive Committee, a cash statement showing receipts and disbursements and such information relative to the financial position of the Society as the Executive Committee may from time to time determine;
c) render a detailed audited report of the conditions of the financial condition of the Society at the regular meeting of the Board of Directors preceding the annual general meeting of the members, and have this report circulated to all members of the Society; 
d) receive all monies due and payable to the Society and issue receipts; 
e) maintain a list of addresses of all the members and provide names of those members who are in good standing and those members who are entitled to receive the publications of the Society;
f) serve on the Publications Committee and chair the Finance Committee; and 
g) in general, perform all the duties incidental to the office of Treasurer and such related duties as may be assigned to the Treasurer from time to time by the Executive Committee or by the Board of Directors. 

18. FINANCE

18.1 The fiscal year shall be the calendar year.

18.2 The Treasurer shall have authority to purchase securities with funds that the Board of Directors has designated for investment and to sell such securities. The Treasurer shall have the authority to borrow money. All such purchases, sales and loans shall be made only in accordance with such regulations as the Board of Directors shall prescribe. The Board of Directors may also appoint an individual member in good standing with the Society to serve as a depositor for funds. 

18.3 At each annual meeting, the members shall appoint an auditor to audit the accounts of the Society for report to the members at the next annual meeting. This auditor shall hold office until the next annual meeting, except that the Board of Directors may fill any vacancy in the office of the auditor. The auditor may not be a director, officer or employee of the Society.

Notes:

• The Development Fund is a portion of the Society's accumulated surplus, which has been set aside by motions of the Board. (The accumulated surplus is the sum of all yearly surpluses minus the sum of all yearly deficits, from the inception of the Society.) It was intended to act as a financial cushion, in the case of a financial disaster or possibly as a mechanism for the funding of major projects which could not be funded from a single year's revenues. The Development Fund was established by the Board in 1990, with an initial contribution of $10,000.
• Under the Corporations Act, the Society is required to file the “Annual Summary” form with Industry Canada. This annual summary as of March 31 of a given year must be filed on or before June 1 of that year. This form must be signed by a member of the Executive. In recent practice, the Treasurer has signed the form, which has been prepared and submitted by the Office.
• The Treasurer should take note that the “Registered Charity Information Return” must be filled out by the auditors each year.
• The Lise Manchester Award was established at a meeting of the Board of Directors on 10 June 2007, and amended on 25 May 2008 and 23 October 2010. This award is funded through an endowment of $20,546.34, used for purchasing of a 44 year term certain annuity. At the 19 November 2007 meeting of the Executive, the following four-part motion was passed.
  
  Part 1: That a term certain annuity be purchased on behalf of the Statistical Society of Canada in January 2008; that the term of the said annuity be 44 years; that the annuitant be the Statistical Society of Canada; that payments to the annuitant be made every second year, beginning in 2008; that the said payment be in the amount of $1400 in 2008; and that a provision be included in the annuity so as to guarantee that the payment be indexed 2% annually thereafter.
  
  Part 2: That the amount of the Lise Manchester Award for 2008 be $1000; that the remaining portion of the annuity payment for 2008 be used in total or in part for advertising purposes.
  
  Part 3: That a bank account be set up by the Statistical Society of Canada in January 2008; that the funds in the said account be devoted exclusively to the Lise Manchester Award; that any unused portion of the biennial payment made to the Society by the Lise Manchester term certain annuity be deposited in the said account; and that at the expiry of the said annuity, all moneys accumulated in the account be used to insure the continuation of the Lise Manchester Award as seen fit by the Directors of the Society at that time.
  
  Part 4: That beginning in 2010 and thereafter, the Board of Directors of the Society may choose to increase the amount of the Lise Manchester Award within the financial resources provided by the term certain annuity purchased to this end.