X – Finances

X – Finances 2017-11-08T13:42:51+00:00


Article X


Section 1

The Treasurer shall deposit all funds of the Club in a bank or banks approved by the Board.

Section 2

Checks written against any Club account shall be signed by the Treasurer.  A thorough review of the Club’s financial transactions by the Finance Committee shall be undertaken semi-annually, or at the request of the President or the Board.

Section 3

Members having charge or control of funds shall give bond as may be required by the Board for the safe custody of the funds of the Club, cost of bond to be borne by the Club.

Section 4

The fiscal year of this Club shall extend from July 1st to June 30th, and for the collection of member’s dues shall be divided into four quarterly periods beginning on July 1st, Oct 1st, Jan 1st and Apr 1st.   The payment of per capita dues and magazine subscriptions to RI shall be made on July 1 and January 1 of each year based on the membership of the Club on those dates.

Section 5

At the beginning of each fiscal year the Board shall prepare or cause to be prepared a budget of estimated income and estimated expenditures for the year, which, having been agreed to by the Board, shall stand as the limit of expenditures for the respective purposes unless otherwise ordered by action of the Board.