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Financial Committee Organization and Policies

Finance Committee

Jody Dorsett is denominated Treasurer to serve as a voting member of the Board (abstaining from voting on matters directly related to his actions as Treasurer) and an ex officio, non-voting member of the Finance Committee.

Description of Finance Committee

The Finance Committee shall consist of three members, one of whom shall be a director. In addition, the Treasurer shall be an ex officio, non-voting member of the Finance Committee. The Committee shall have the following responsibilities:

  1. Oversight of all monies received by ReadAssist.org.
  2. Oversight of all expenditures over $50, for approval by the Board.
  3. Reports to the Board as required.
Duties of Treasurer
The Treasurer shall have the following duties:
  1. Keep the books of ReadAssist.org.
  2. Render statements of the financial status of ReadAssist.org as required by the Board or the Finance Committee.
  3. Receive and disburse the monies of ReadAssist.org as directed in this policy or otherwise by the Board.
  4. Have the custody of all monies of ReadAssist.org.
  5. Perform such other duties as the Board or the Chair may designate from time to time.
Management of Expenses
  1. The Treasurer shall have a petty cash fund of $50, from which the Treasurer may pay expenses up to that amount, subject to obtaining a receipt. All requests shall be fully documented (name, place, date, amount, reason) and accompanied by receipts. All such payments will be included in a petty cash report appended to the financial report to the Board.
  2. The Chair, Vice Chair or Treasurer may approve disbursement of amounts under $50. The Board must approve disbursement of all funds over $50.
Release of Financial Data

All donor financial information will be reported as follows:

Adopted by the Board November 4, 2000.