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SECTION 7. POLICY REGARDING THE COMMITMENT OF USAWOA FUNDS:

  1. a. The National Treasurer working in conjunction with the USAWOA Bookkeeper, (if the position is filled) has the overall responsibility for control of USAWOA FUNDs subject to the provisions of this section.

  2. b. Preparation of the Budget: The National Treasurer has overall responsibility for preparation of the annual budget. The following principles will be observed:
    1. (1) Publish in the Association publication a statement to the fact that a dues rate change is under consideration. This statement shall include as a minimum:
      1. (1) The budget must portray the objectives and goals of the Association in monetary terms.
      2. (2) The budget must be well conceived, requiring maximum participation by directors and staff and coordination with appropriate committee chairpersons.
      3. (3) The budgeting process must appropriately interface with the USAWOA long-range programs and plans.
      4. (4) The budget will be prepared no less than ninety (90) days prior to the Annual Meeting of the Members as outlined in Bylaw X, Section 8.
      5. (5) The completed budget will receive preliminary review by the Executive Committee prior to consideration by the National BOD.

  3. c. Execution of the Budget: The Budget will be used by directors and the Executive Committee as a primary tool for controlling the financial posture of the Association.
    1. (1) The Budget will be broken down into periods corresponding to the periodic financial statements.
    2. (2) Periodic comparisons of budgeted amounts to actual expenses will be made by the Treasurer and distributed to the members of the National BOD.
    3. (3) Directors' expenses may exceed budgeted amounts at the detailed element of expense level no more than ten percent, provided that the aggregate budgeted amount is not exceeded.
    4. (4) The Executive Director may, with concurrence of the Executive Committee, exceed budgeted amounts by no more than ten percent, provided that the overall budget is not exceeded.

  4. d. The Executive Director, in coordination with Executive Committee (EXCOM) must be prepared to take action where the comparison with the Budget indicates a significant deviation and/or when budgeted amounts have been exceeded above tolerances specified in paragraph.