Fiscal
Fiscal Committee page includes:
Google Drive folder listing (only visible to members of the committee who have access to that folder)
Bylaws link and extracts related to the committee
Elsie K. Powell House, Inc. Bylaws (PDF), Fiscal mentions in:
ARTICLE IV – OFFICERS
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4.6 – Treasurer. The Treasurer shall be responsible for the corporate funds and securities; shall
see that full and accurate accounts of receipts and disbursements are kept in books belonging to
the Corporation; shall see that all monies and valuable effects of the Corporation are deposited in
its name and to its credit in such depositories and with such rights of withdrawal and access as
may be designated by the Board of Directors. The funds shall be disbursed as ordered by the
Board of Directors, and the Treasurer shall render to the Board and the members of the
Corporation whenever they shall require it an account of all transactions and of the financial
condition of the Corporation.
4.7 – Assistant Treasurer. When so appointed, an Assistant Treasurer shall assume such duties as
may be requested by the Treasurer or as assigned by the Board of Directors. In the case of
absence or inability of the Treasurer, the full duties of the Treasurer shall be performed by the
Assistant Treasurer.
ARTICLE V – COMMITTEES, including:
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5.4 Fiscal Management Committee. The Fiscal Management Committee is responsible for creating
and revising as needed the fiscal management policies of the Corporation and for creating the
annual budget of the Corporation for approval by the Corporation at its meeting prior to the
commencement of the fiscal year, and for proposing as may be needed modifications to the budget
during the course of the fiscal year, and shall have such other duties as may be assigned by the
Corporation. The Fiscal Management Committee shall understand the organization’s internal
controls and have policies in place to update them as needed and periodically review the
organization’s insurance coverage and determine its adequacy. The Treasurer is a member of this
committee ex officio.
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ARTICLE VI – FINANCES
6.1 – Fiscal Management. The Corporation shall approve an annual budget and shall
require periodic reports of receipts, expenditures, and all other financial transactions.
A verified or certified report of the Corporation’s financial affairs shall be made available annually to
the Corporation members and to New York Yearly Meeting.
6.2 – Contributions. The Board of Directors may accept on behalf of the Corporation any
contribution, gift or bequest for the general purposes, or any special purpose of the Corporation.
6.3 – Investments. The funds of the Corporation may be retained in whole or in part in cash or
invested and reinvested from time to time in property (real, personal and otherwise) or in stocks,
bonds or other securities, as the Board of Directors may deem desirable.
6.4 – Delegation of Investment Management. In the exercise of due diligence, the Board of
Directors may contract with an delegate to committees, officers, employees or agents (including
investment advisors, counsel, managers, banks or trust companies) the authority to act in place of
the Board, in investment and reinvestment of the Corporation’s funds. The Board of Directors may
authorize payment of compensation for such investment services, provided that any contract for
such investment services may be terminated by the Board of Directors at any time, without penalty,
upon not more than 60 days notice.
6.6 – Contracts. The Board of Directors may authorize any officer or officers, agent or agents of
the Corporation, in addition to the officers so authorized by these bylaws to enter into any contract
or execute or deliver any instrument, in the name of and on behalf of the Corporation.
6.7 – Fiscal Year. The fiscal year of the Corporation shall commence May first and shall end on
April 30th of each calendar year.