The responsibilities and functioning of college trustee committees on finance are described. It is noted that the role of the finance committee is to recommend policy for board approval, interpret it to the administration, and to monitor the results. The following responsibilities of the finance committee are discussed: overseeing current financial operations and results; ensuring that a viable long-range financial plan exists or is being developed; and communicating with and educating the board. The structure and agenda of the committee are also addressed. Recommendations for the finance committee include: the committee should understand the factors that affect the flow of funds from various sources and should modify policy or practice to correct a decreasing flow; expenditures should be monitored; the capital budget and the operating budget should be paired for discussion; special attention should be directed to loan funds, plant, and endowment; and the committee needs to assess the financial consequences of the present course and to develop a parallel long-range financial plan. Five reference documents are identified. (SW)