Article XIV
Financial Administration
Section 1: Fiscal Year.
The fiscal year of the Network shall be October 1 through September 30
but may be changed by resolution of the Council.
Section 2: Checks, Drafts, etc.
All checks, orders for the payment of money, and insurance certificates
shall be signed or endorsed by such officer/s or agent/s of the Network
and in such manner as shall from time to time be determined by
resolution of the Council or of any committee to which such authority
has been expressly delegated by the Council.
Section 3: Contracts.
Unless the Council determines otherwise by resolution, the
CEO/President, Secretary, Treasurer, Council Chair and Chair of the
Executive Committee shall all be authorized to execute contracts on
behalf of the Network. Each such individual may, with written notice to
the Council, delegate such authority to such employees or volunteers
and with such limitations upon the delegated authority as may be
necessary or expedient for running the affairs of the Network. Unless
otherwise expressly determined by the Council, no other individuals
shall be authorized to bind the Network to any contract, including the
chair of any committee other than the Executive Committee.
Section 4: Deposits and Accounts.
All funds of the Network, not otherwise employed, shall be deposited
from time to time in general or special accounts in such banks, trust
companies, or other depositories as the Council or any committee to
which such authority has been delegated by the Council may select, or
as may be selected by any officer/s or agent/s of the Network, to whom
such power may from time to time be delegated by the Council. For the
purpose of deposit and for the purpose of collection for that account
for the Network, checks, drafts, and other orders of the Network may be
endorsed, assigned, and delivered on behalf of the Network by any
officer/s or agent/s of the Network.
Section 5: Annual Financial Statements.
Complete financial statements prepared in conformity with generally
accepted accounting principles, and according to government auditing
standards and accompanied by an audit report of an independent
certified public accountant, shall be presented to and reviewed by the
Council as soon as practicable after the close of each fiscal year.
