ARTICLE VIII – Finances

ARTICLE VIII – FINANCE

SECTION 1 – Fiscal year

(a)    The fiscal year of this Club, shall begin on the first day of January unless otherwise provided by these by-laws.

SECTION 2 – Deposited and Withdraws

(a)    Moneys of the Club shall be deposited in the name of the Club in such bank or banks as the Board of Directors or Treasurer.

(b)   Money shall be drawn out of our account only by check signed by the Treasurer or the Treasurer and President.

SECTION 3 – Budget

(a)    A budget for the fiscal year shall be prepared by the Treasurer and submitted to the Board of Directors at its, first meeting of the fiscal year for approval.

(b)   The budget shall be reviewed and, if necessary, adjusted at each subsequent meeting by the Board of Directors.

(c)    Expenditures in each classification shown in the budget shall be within reasonable limits thereof.

(d)   The Board of Directors of General Membership may appoint three of its members to examine the books of accounts of the Club.

(e)    If the treasurer fails to maintain the clubs account properly under the supervision of the board, fees of any sort will be repaid to the club within a time limit set by the board.

(f)    In the event the account balance is in question, the treasurer will provide up to date statements – in print – for examination by the members selected to oversee and resolve the possible questions.

SECTION 4 – Expeditors

(a)    Website operations and or maintenance – The webmaster will be refunded a monthly expeditor of $12 per month for website domain hosting and yearly domain renewal. Monthly hosting at this moment is $10 per month and domain renewal is $15 per month at this time.

Expeditors for website may change in the future. Any changes in expeditor to the website operations shall be made to the board of Directions for Approval.

(b)   Simulator funding – Future funding for the clubs helicopter simulator will be asked for by donations from club members that will get to use it.