| Purpose | The Finance Committee's primary purpose is to assist the Board of Directors of DTE Energy Company (the "Company") in fulfilling its responsibility with respect to the policies and practices that relate to the management of the financial affairs of the Company. |
| Membership & Authority |
- The Committee shall be comprised of three or more directors as determined by the Board of Directors. Committee members are appointed for one-year terms and can be re-appointed for additional terms.
- The Committee has the authority to perform the duties listed in this Charter, as it determines to be necessary and advisable from time to time in its business judgment.
- The Committee shall meet as it determines to be necessary or advisable, but no fewer than four times each year. The Committee shall keep minutes or other records of its meetings.
- The Committee has the authority to retain independent outside professional advisors or experts as it deems advisable or necessary, including the sole authority to retain and terminate any such advisors or experts, to carry out its duties. The Committee shall have sole authority to approve related fees and retention terms.
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| Responsibilities & Duties |
- Review and evaluate the Company's financial policies, capitalization and credit ratings along with the financial plans, including financial transactions, credit capacity, guarantees and credit facilities. Review, evaluate and discuss with the Audit Committee, where applicable, financial risk management. Recommend to the Organization and Compensation Committee financial measures relating to the Company's incentive plans.
- Review and make recommendations concerning dividend policy and dividends to be declared by the Board of Directors
- Review and approve capital spending and operating plans; review and approve capital expenditure projects of $25 million up to $100 million and any overruns in excess of $25 million or 10 percent of the initially approved expenditures on those projects; review and recommend to the Board capital expenditure projects of $100 million or greater and any overruns in excess of $25 million or 10 percent of the initially approved expenditures on Board-approved projects.
- Review and evaluate existing and potential investments, including the financial soundness of potential mergers, acquisitions and dispositions.
- Review the strategy, investment policies, performance and adequacy of funding for the Company's pension and other post-retirement obligations that are managed by the Company's Investment Committee.
- Approve the Company's capital markets plan, including the issuance and retirement of debt and equity.
- Review the Company's investor relations activities.
- Review other matters that may be delegated to the Committee by the Board.
- Make reports to the Board of Directors and keep the Board informed of matters that come before the Committee as the Committee believes necessary and appropriate. Advise the Board of any developments that the Committee believes should have Board consideration.
- Annually conduct a performance evaluation of itself and report results to the Board.
- Review and reassess the adequacy of the charter annually and recommend any proposed changes to the Corporate Governance Committee.
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