The Finance Committee is responsible for reviewing the annual proposed budget and making recommendations to the Steering Committee regarding approval/revision of the proposed budget. The Finance Committee is responsible for reviewing proposed changes to the budget quarterly and making recommendations to the Steering Committee regarding approval/revision. The Finance Committee is responsible for reviewing budget variances semi-annually and making recommendations to the Steering Committee regarding changes in budget or approaches for minimizing variance. The Finance Committee is responsible for developing and making recommendations to the Steering Committee regarding strategic investment and funding collaborative initiatives (e.g., research grants). The Finance Committee will be chaired by the CNOC Treasurer and will include as members: current executive leadership, historical leadership, representation from current management company and relevant standing committee leadership as appropriate.