Article IX - Finance

SECTION 1. REVENUE

A.  Membership dues.

B.  Any fees obtained through collective bargaining.

C.  Interest revenue.

SECTION 2. EXPENDITURES

A.  Annual budget

(1) an annual budget shall be submitted by the budget committee for approval at the May membership meeting. The proposed annual budget shall:

(a)   Be for the fiscal year beginning the following July 1.

(b)   Not exceed the anticipated revenue for the upcoming fiscal year.

(c)   Consist of a line item for administrative operations, each standing committee, and currently active non-standing committee. (sub line items may be used for budget preparation purposes but shall not be considered part of the line item appropriation.)

(d)   The line items for collective bargaining shall be based on a minimum of $.50 per week per member.

(2)  the proposed annual budget shall require a two-thirds vote of those present and voting at the May membership meeting for acceptance in its entirety.  Failing this, a majority vote of those present shall be required for acceptance of each line item in the budget.

(3)  transfers of anticipated excesses in line item appropriations of the annual budget to another line item may be made with the approval of the committees involved provided there is concurrence from the Budget committee.

B.  Appropriations for expenditures that were not approved as part of the annual budget shall be approved under the following provisions:

(1)  appropriations for an amount less than 1/20th of the total gross receipts for the previous month or $3,000, whichever is greater, shall be approved by a majority of the votes case at a general membership meeting or by a majority vote of the board of directors.

(2)  appropriations considered under Sub-paragraph B (3), (4), and (5) of this section shall require a review and recommendation of the budget committee before any vote is taken.  Such review and recommendation shall be made no later than the next membership meeting.

(3)  appropriations for an amount in excess of the limits set by Sub-paragraph B (1) of this section but less than 25% of the unencumbered funds in the treasury shall be approved by a majority of the votes cast at a general membership meeting.

(4)  appropriations for an amount in excess of 25% but less than 50% of the unencumbered funds in the treasury shall be approved by a majority of votes cast at a general membership meeting.  The membership shall be given advance notice by mail that action on such an appropriation will be taken.

(5)  appropriations for an amount in excess of 50% of the unencumbered funds in the treasury shall require a majority vote of the total membership of this organization.

(6)  funds included in the reserve account created by paragraph C of this section shall not be considered as part of any unencumbered funds pursuant to Sub-paragraphs B(3), (4), and (5) of this section.

C.  RESERVE ACCOUNT

(1) reserve account shall be established from receipt of 10% of each member's dues.  This amount is to provide funds for purposes not anticipated under normal operational circumstances.

(2)  a two-third's vote of those present at a board of directors meeting and a two-third's vote of the membership present at a membership meeting following said board meeting is necessary to appropriate from the reserve account.  The membership shall be notified by mail of the specific membership meeting and of the proposed appropriation to be acted upon, at least seven days in advance of such action. Prior to any vote, the budget committee is required to review the request for an appropriation and present a recommendation to the board of directors and membership.