CHAPTER XV. FINANCIAL POLICIES
BPW / TN The state finance committee prepares the annual budget, has general supervision of all expenditures and assists local organizations in developing and maintaining a sound financial policy. In compiling the annual budget, the finance committee should estimate income based on no more than the total membership of the prior year, plus a conservative estimate of miscellaneous income. Budgeting recommendations from state officers, regional directors, standing and special committees should be submitted to the finance committee together with data to support each recommendation, for their consideration as they prepare the budget. In compliance with BPW / TNʼs fiscal year ending June 30, all checks for that fiscal year shall be dated prior to or on that day. This would include any accrued BPW / TN expenses as well as any accrued expenses for State Convention paid after June 30 but within 30 days after close of State Convention. To comply with the financial policies, any check for expenses incurred during the organization year will be dated NO LATER than June 30. If the approved budget includes interim board and state convention expense items, ANY SURPLUS SHALL BE USED ONLY FOR SUBSEQUENT INTERIM BOARDS AND STATE CONVENTIONS. Designated funds shall be transferred to the ensuing year treasurer prior to the close of the fiscal year on June 30. SURPLUS GENERAL WORKING FUNDS FROM THE OPERATING YEAR SHALL BE TRANSFERRED TO THE ENSUING YEAR GENERAL FUND AS SOON AS THE FINANCIAL REVIEW IS ACCEPTED BY THE BOARD OF DIRECTORS. BPW / TN IB / Convention Account: All monies collected for interim board meeting or state convention shall be deposited into the Interim Board / Convention bank account, approved by the executive committee, with records of that account being supplied to the state treasurer at the close of the board meeting or convention, to be included in the year-end financial review. Funds in this account to be used only for subsequent interim board or convention expenses unless authorized by State Convention action( s). See Chapters XII and XIII of Handbook of Policies and Procedures. A BPW / TN credit card will be maintained to be used only by the president and / or the treasurer to pay for Interim Board or Convention expenses contracted for by BPW / TN. If the credit card is used for payments for maintaining the website, the treasurer shall remit the amounts to be paid before the due date for payment of the credit card bill.
Deceased Past State Presidents
• A floral memorial not to exceed $ 50 shall be sent at the time of death
• If the time does not permit action under the item above, a monetary contribution, not to exceed $ 50, shall be sent to the Business and Professional Womenʼs Foundation in memory of the deceased past state president
The state president is responsible for this being done.
Contribution to New Local Organizations To assist newly organized local organizations, it shall be the responsibility of each established local organization in BPW / TN to send $ 5.00 to the president of the newly organized local organization( s).
Financial Responsiblity— Speakers( etc.) Any local organization inviting ANY individual to speak to the local organization or to perform other services shall be responsible for that individualʼs expenses.
Allowable Expenses for State Convention and Interim Board State convention expense shall include transportation at 20 cents per mile, lodging not to exceed $ 20.00 per day, registration and / or stated meals for the following: executive committee, standing committee chairs, parliamentarian, bylaws chair, and immediate past state president. Registration fees for District Directors shall also be paid. Registration fee and / or stated meals will be paid for the Administrative Assistant.
Interim Board expense shall include transportation at 20 cents per mile, lodging not to exceed $ 20.00 per day, registration and / or stated meals for the following: executive committee, standing committee chairs, parliamentarian, and immediate past state president. Registration fees for District Directors shall also be paid. Registration fee and / or stated meals will be paid for the Administrative Assistant.
Approval for the payment of registration fee and stated meals for special committee chairs, task force chairs, and members required to attend the convention or interim board shall be made by the pre-convention or pre-board executive committee upon recommendation of the state president and / or president-elect, if funds are available. First consideration should be given to the Bylaws chair as a voting member of the Board of Directors.
State Convention / Interim Board Financial Reports Reference Handbook of Policies and Procedures, Chapter XII and Chapter XIII
45 June 2012