Commission on Finance and Insurance (CFI)

The Commission on Finance and Insurance is a standing Commission of the American Academy of Family Physicians as provided for in the AAFP By-Laws (Article XIII, Section 1).  It reviews various matters of the Academy both as routine charges of the Commission and upon referral from the Board, other commissions/committees or the Congress of Delegates.  Commission members gain a very thorough understanding of academy structure and function by review and participation in the budget process. All actions of the Commission (except for the Member reimbursement policies) are referred to the Board of Directors for final action.  Responsibilities that fall under the commission’s scope of work include:

1. Financial Performance - Monitors the Academy’s financial performance, provides ongoing financial and budgetary advice and arranges for an annual audit of the financial statements by a licensed certified public accountant.
2. Budget - Reviews and recommends the annual budget for the Board of Directors approval.  Recommends member dues amounts to the Board for their approval.
3. Reimbursement of Member Honoraria and Expense - As stated in the Bylaws, the Commission establishes the reimbursement policy for those representing the Academy on official business, including Officers, members of the Board of Directors, members of commissions and committees and other similar organizational entities.
4. Investments - Reviews and advises on the Academy’s investment policy, including asset allocations, manager or fund selection and performance monitoring.
5. Member Insurance Services - Investigate, develop and maintain programs of insurance and investments for the protection and benefit of Academy members and to encourage enrollment in AAFP Insurance Services, Inc. insurance and investment programs.

Commission Service Overview

The Commission consists of 9 members plus the Board Liaison.  Members are appointed by the Board of Directors to serve a four-year term.  The Chair of the Commission is also selected by the Board of Directors and may be either a current member of the Commission serving the last year of their term or a member of the Commission whose term is expiring. The Executive Committee of the Commission is selected by the Chair of the Commission each year and functions in place of the Commission when matters require action and it is impractical to assemble the entire Commission.

The Commission meets once a year at the Academy’s headquarters, normally in April.  Each meeting is normally one and a half days long (Friday and Saturday).  Agendas are provided approximately a week in advance of the meeting for review and preparation for the meeting.  A new member orientation is held at the beginning of the meeting.

The Commission also meets virtually in September and November to review the year-to-date investment results and other Commission business.  Infrequently, the Commission or its Executive Committee may have the need for another conference call to discuss various issues.

The Chair of the Commission also attends a budget review session each spring.

Reimbursement

The Commission on Finance and Insurance establishes reimbursement policies for commission members. Members are reimbursed:

• A per diem payment when traveling or attending meetings or other events on behalf of the commission.
• Actual travel expenses up to the cost of the lowest refundable coach airfare as well as parking for personal autos and/or transportation between home and airport and airport and meeting sites. 

Interested?

If you are interested in nominating yourself for this commission:

• Contact your chapter prior to starting your application.
• Complete the online Commission Nomination Form (available July 15-October 15 each year).

If you are interested in nominating yourself for commission chair (in your final year of service on the commission):

• Contact your chapter prior to starting your application.
• Complete the online Commission Chair Nomination Form (available May 15-August 15 each year).

You can access the Commission Resource Manual for more information here.