X – Finances

X – Finances 2018-04-26T10:41:09+00:00

By-Laws – Revised/Approved January 2018

Article X

Finances

Section 1

The Treasurer shall deposit (or cause to be deposited) all Club funds in a bank or banks approved by the Board.

Section 2

Checks written against any Club account shall be signed by the Treasurer, President or President-Elect. The Club President shall appoint a Finance Committee and insure that semiannual reviews of club financial activity take place. More frequent reviews may take place at the request of the Board or the President.

Section 3

Members entrusted with funds for Club activities shall account for such funds to the Club Treasurer.

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.