Chamber of Business & Industry President and CEO Greg Scott
(Chamber Executive Magazine) A few years ago, the Chamber of Business & Industry of Centre County’s board of directors approved a straightforward investment policy. The chamber placed some cash reserves in a long-term investment pool. But with the market volatility, it was time to revisit what was on paper.
“It’s easy when the market is going up. You just let it ride,” said Greg Scott, president & CEO. “But when the market’s going down and you have an investment committee with differing opinions and differing thoughts, it gets a little more difficult.”
Chambers cover a vast spectrum in terms of budget size and financial resources. But because chambers are funded in various ways from different sources, it’s essential to be good stewards of the dollars coming through the door. Here are a few financial best practices to consider no matter where you are in the fiscal year.
“It’s easy when the market is going up. You just let it ride,” said Greg Scott, president & CEO. “But when the market’s going down and you have an investment committee with differing opinions and differing thoughts, it gets a little more difficult.”
Chambers cover a vast spectrum in terms of budget size and financial resources. But because chambers are funded in various ways from different sources, it’s essential to be good stewards of the dollars coming through the door. Here are a few financial best practices to consider no matter where you are in the fiscal year.
