Which committee must approve financial expenditures made by a squadron?

Which committee must approve financial expenditures made by a squadron?

• A. Budget committee
• B. Finance committee
• C. Audit committee
• D. Executive committee

Answer: (B)

The Finance Committee is responsible for overseeing financial expenditures within a squadron. This committee typically has the authority to review, approve, and monitor all financial transactions and budgets to ensure they align with the approved financial strategy and regulations. Its members are usually knowledgeable in finance and budgeting practices, allowing them to make informed decisions about resource allocation and spending. While other committees like the Budget Committee may be involved in the planning stage of finances or the Executive Committee may provide oversight and strategic direction, the Finance Committee specifically focuses on the approval of expenditures, ensuring that all spending is necessary, justified, and adheres to the financial policies in place. The role of the Audit Committee typically involves oversight of financial integrity and compliance, rather than managing expenditures directly. Therefore, the Finance Committee is the correct choice for approving financial expenditures made by a squadron.

The Finance Committee is responsible for overseeing financial expenditures within a squadron. This committee typically has the authority to review, approve, and monitor all financial transactions and budgets to ensure they align with the approved financial strategy and regulations. Its members are usually knowledgeable in finance and budgeting practices, allowing them to make informed decisions about resource allocation and spending.

While other committees like the Budget Committee may be involved in the planning stage of finances or the Executive Committee may provide oversight and strategic direction, the Finance Committee specifically focuses on the approval of expenditures, ensuring that all spending is necessary, justified, and adheres to the financial policies in place. The role of the Audit Committee typically involves oversight of financial integrity and compliance, rather than managing expenditures directly. Therefore, the Finance Committee is the correct choice for approving financial expenditures made by a squadron.