Section 421. Finance Committee. -- The Board of Governors shall designate a Finance Committee which shall consist of the Treasurer, who shall be Chair of the Finance Committee, the Vice President and at least three other Governors. All requests for appropriations and audits and reports of the certified public accountants retained by the Association shall be submitted to it. It shall make a continuing study of the finances of the Association and make recommendations regarding them, shall consider and recommend on all requests for appropriations and shall prepare and submit to the Board a budget of estimated receipts and expenditures for the next ensuing fiscal year.