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2008 Midwinter Meeting


Friday, January 11


1:30–4:30 PM


Philadelphia Marriott, Salon K/L

General Concepts

• One bank account
• One set of financial records
• One audit
• One set of policies
• Net Assets—if a division or unit decides to disband the , all net assets remain with the .

Review of Policies (Management of Funds)

1. Purchasing/Conflict of Interest (8.1.1)
2. Authorization to Overspend Budgeted Funds (8.1.4)
3. Limitations on Funding of Divisions (i.1.6)
4. Unrestricted Bequests (8.1.7)
5. Council Receipt of Budgets (8.4)
6. Endowment Funds (8.5)
   
   1. Investment Funds (8.5.1)
      1. Use of Fund
         
         1. Program Support
         2. Emergencies
         3. New Initiatives
         4. Scholarships and Awards
         5. Transfer existing funds to create new program
      2. Withdrawal/Repayment
   2. Endowment Funds: Combining (8.5.2)
7. Deferred Revenues
8. Attachment—
   Legal Framework