Resolution:Spending authorization

Resolutions Spending authorization Errors?
This resolution authorizing the treasurer to manage expenses without a budget was approved by written vote on 23 January 2006.

Whereas the Board has not approved a budget for the period beginning 1-Jan-06 and there are expenditures that must be made to keep the Foundation operating, the Board hereby resolves that:

  1. The Treasurer is authorized to pay the usual and customary expenditures of the Foundation provided that the expenditures are not materially different than last quarter's expenditures,
  2. The Board ratifies their approval of the usual and customary payroll expenditure made on 15-Jan-06,
  3. The Treasurer will notify the Board and wait for Board approval before paying any significant and unusual expenditures or any single expenditure greater than $15,000.

Board approves by written vote.

Last modified on 8 May 2008, at 22:22