This Committee shall be responsible to the Board for recommending business policy for the effective and efficient operation of the College, and shall evaluate the College adherence to policy and it’s achievement with respect to any financial functions of the College such as, but not limited to: annual and capital budgets, business records and systems, business planning, legal functions, non-academic personnel, auxiliary enterprises, as well as property and grounds. The Committee shall make recommendations to the Board of Trustees for final action as well as advise the President of the College on long-range business and financial programs and plans. The Finance Committee shall collaborate with the President of the College in the preparation of the annual budget of the College. The proposed annual budget for the ensuing fiscal year shall be submitted to the Board of Trustees by the President of the College for approval. The Finance Committee shall also review and make recommendations regarding proposals for funding capital projects or other major expenditures not included in the annual budget process.