AR|2017 FINANCIALS The HMC Board operates under the premise that its primary role is one of oversight, leadership, direction, and policy setting. Through regular quarterly meetings and management of communications, the HMC Board helps ensure effective organizational planning and oversees the organization’s resources. The Board determines the extent of the organization’s activities on an annual basis. Based on this, the Board develops, implements, and monitors a feasible plan sufficient to generate the revenue required to implement the approved activity plan. In doing this, the Board answers four basic questions: • Based on past experience and close communication with current and potential funding sources, what is the amount of revenue AIFEC can reasonably expect to receive on a short and mid-term basis? • What can be done with that amount of revenue? • What financial benchmarks need to be met in order to expand to additional schools and community centres? • What level of programming can be offered in the event that revenue targets are not reached?
HMC Annual Report 2017
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