Finance Committee

Objectives

  • Provide oversight of the Association’s financial resources by reporting accurate and reliable information to the AEM Board of Directors.
  • Monitor, manage and protect the assets of the Association by providing an adequate system of financial controls.
  • Recommend AEM budget to the Board and oversee the budget throughout the year.

Responsibilities

Review and recommend to the AEM Board of Directors for approval:

  1. The annual budget.
  2. The investment policies and guidelines of the Association.
  3. External auditor selection and the annual audit.
  4. A long-range program to assure the financial viability of the Association.
  5. Any other finance-related tasks as directed by the AEM Board of Directors.

2024 Priorities

  • Monitor AEM 2024 actual financial results versus budget.
  • Monitor AEM cash flows and financial viability of individual exhibitions, programs and services.
  • Continue to assess financial projections for AEM with an emphasis on the CONEXPO-CON/AGG 3-year show cycle, currently 2024 to 2026.
  • Review and recommend AEM 2025 budget to Board of Directors for approval.

Leadership

  • Chaired by the AEM Treasurer. Serves a one-year term. Elected by the AEM Board of Directors each November. In practice, Treasurer serves two to three consecutive one-year terms.

Composition

  • 15 to 18 members. A cross-section of individuals is selected based on financial, AEM trade show and member services background.
  • AEM seeks top or high-level executives and financial leaders from member companies to serve, with an emphasis on diversity of race, ethnicity, gender, age and background along with diversity of product groups.
  • The committee aims to have a 70-30 split between Directors and non-Directors.
  • Terms of two years with approximately 50% of the committee anticipated to turn over each year.

Meetings

  • Three to four virtual meetings throughout the year depending on activities and issues.
  • In-person meeting attendance at AEM’s Milwaukee office is welcomed.
Group Leadership

AEM Treasurer & Committee Chair

Melvin Porter

Link-Belt Cranes

Vice Chair

Phil Kelliher

Caterpillar Inc.

AEM Staff Contact

Kathy Barke

Chief Financial Officer & Vice President, Finance

414-298-4141

Shawna Plautz

Contracts & Administrative Coordinator

414-298-4105