Title: Eliminating Spending Limits Redundancy
Sponsor: Lowell Nelson
Reviewer: Doug Cannon
Submitted: 10/12/09
CBC Review: 12/8/09: Favorable 6-1
EC Review: 1/7/10: Favorable 20-0
CC Review: 1/21/10: No action
CC Review: Ready for 3/6/10
Sections B, C, D, and E are subordinated (but not amended) to a section entitled Spending Approvals, and indicate the spending approvals that are established by this bylaw. The new Section E is amended as shown.
Bylaw 4 – Financial and Budget Policies
| A. |
In conducting the day-to-day affairs of the Utah County Republican Party, the Steering Committee shall have the power to transfer between line items of the budget with the approval of a majority of the Steering Committee, but only the Central Committee shall have the power to change the total budget or to approve deficit spending. |
| B. |
Spending Approvals. |
| |
1. |
All individual expenditures exceeding $5,000 must have the specific approval of the Central Committee. |
| |
C.2. |
All individual expenditures exceeding $2,000 must have the specific approval of the Executive Committee. |
| |
D.3. |
All individual expenditures exceeding $500 must have the specific approval of the Steering Committee. |
| |
E.4. |
All individual expenditures of less than $500 must have the specific approval of at least two of the four party officials who are checking signatories. |
F.C. |
When handling cash from major fund drives, at least two unrelated people will open, count, prepare and deliver the bank deposit. |
G.D. |
When the Steering Committee makes payments for authorized expenditures from party funds, such payments shall be made only by check, shall require the co-signatures of any two of the four Elected County Party Officers, and shall have been approved by the appropriate governing committee as budgeted. |
H.E. |
On or before October 1st of each year, the Central Committee shall approve a budget for the coming election cycle and set limits on the amounts the Executive or the Steering Committees may approve for disbursement without prior Central Committee approval. |
I.F. |
Prior to each organizing convention, a financial review shall be conducted by an independent CPA firm which is appointed by the Central Committee and which is independent of the Executive Committee. The results of the review shall be presented to the Central Committee and reported at the County Convention. |
Proposed additions are indicated in bold underlined text, and proposed deletions are indicated in strikethrough text.
ID: B-119
Sponsor: Lowell Nelson
Reviewer: Doug Cannon
Recommendation: