About ACCS
Article IX
Fiscal Responsibility
9.1 General Policy. The board is responsible, through the budgeting process, to ensure that the day-to-day operations of the ACCS shall be fully funded.
9.2 Fiscal Year. The fiscal year of the association shall begin on the first day of July and end on the thirtieth day of June of each year.
9.3 Budgets. The board will approve annual operating budgets at each of its annual meetings. The operating budget for the following fiscal year shall be submitted to the board by the Chairman two months prior to the annual meeting, with final board action to approve the budget taken no later than the annual meeting.
9.4 Financial Statements. It shall be the board's responsibility to ensure that detailed, quarterly financial statements are mailed or delivered to each board member within 10 days of the end of the month for which the statement is prepared.
9.5 Financial Inspection.
(a) The books of the ACCS will be inspected at least annually by an ad hoc committee comprised of at least three (3) qualified persons. A "qualified person" shall be any accountant, bookkeeper, attorney, or other person who by reason of his expertise or experience is competent to evaluate financial records. No more than one (1) qualified person shall be an employee or director of ACCS.
(b) Upon recommendation of the committee, the board may authorize an independent audit of the financial records of the ACCS. The board shall be required to arrange for an independent audit if the committee so recommends following two out of any three consecutive inspections.
(c) Findings of this committee will be made available to all ACCS members in a format determined by the board.
9.6 Fund Raising. It shall be the board's responsibility to set policy for any fund raising activities of the ACCS, and to be responsible for their propriety, effectiveness and thoroughness.
9.7 Loans. No indebtedness of any kind, whether conventional, private, or "in-house," shall be authorized or contracted by or on behalf of the association; and the association shall not be authorized to make loans of any kind or character.
9.8 Checks and Drafts. All checks or drafts issued by ACCS shall be signed by such officers in such a manner as shall be determined by resolution of the board of directors.