Returns

Quarter Ending March 31, 2012
Quarter Ending December 31, 2011
Quarter Ending September 30, 2011
Quarter Ending June 30, 2011
Quarter Ending March 31, 2011
Quarter Ending December 31, 2010
Quarter Ending September 30, 2010
Quarter Ending June 30, 2010
Quarter Ending March 31, 2010

Most component funds under the Oshkosh Area Community Foundation umbrella are pooled for investment purposes. Currently, the Community Foundation uses a 60/40 pool with 60 percent invested in equities and 40 percent in bonds and cash. Under the oversight of the Finance and Audit Committee, the Community Foundation's investment consultants monitor the performance of the portfolio and instruct banks and securities houses to make appropriate adjustments.

Finance and Audit Committee
The Oshkosh Area Community Foundation's Finance and Audit Committee reports directly to the Board of Directors. It consists of no more than five members including: a member of the Board of Directors and four others who are present or past members of the Board of Directors or Finance Committee, or a member of the community at large. Members may serve two three-year terms. The committee meets at least quarterly.

Members as of January 2011 are:

Catherine Luther
Community Volunteer

Sam Sundet, Treasurer
Reff, Baivier, Bermingham and Lim, SC

Peter Lang
Lang Oil

Tony Wihlm
Clifton Gunderson, LLP

The committee's audit responsibilities include:

• Determine the criteria for Request for Proposal (RFP) that is sent to auditing firms every three years.
• Select accounting firms the RFP is to be sent to.
• Select the accounting firm from the RFP's returned.
• Meet with the selected accounting firm prior to the audit to approve the scope of the audit and to target any particular area of interest or concern.
• Meet with the accounting firm to review the annual audit, 990 and Management Recommendation Letter prior to the accounting firm's audit presentation to the Board of Directors.
• Ensure appropriate measures are taken to correct any deficiencies detected by the audit.
• Consult with staff on audit issues.

The committee's finance responsibilities include:

• Work with CFO to develop and review policies relating to fees charged to funds.
• Oversee CFO's annual review of all fund contracts to ensure that investment and grant objectives are met.
• In conjunction with the CFO, develop useful and readable reports and determine the recipients of these reports
• Monitor internal controls and policies, review income and expenditures against the operating budget with recommendations to the board.
• Give quarterly reports to the board on the financial position of the Community Foundation. Address issues such as income projections, asset value, fund fee collections, listing of funds and revenue designated for grantmaking.
• Oversee the duties of the CFO.

If you have questions about the Oshkosh Area Community Foundation's finances and audit information, please contact accountant Debbie Herman at 920-426-3993 or e-mail Debbie@OshkoshAreaCF.org.