• Notice of Proposed Bylaws Changes - September 2014

    The Angelfish Society Bylaws and Membership Compliance Committee has drafted a new article to be included in our bylaws, if approved by the membership. A vote will be held after the 60-day public notice period has ended. Voting is expected to occur after Sunday, November 16, 2014.

    Article 8 Financials

    Section 1. Annual Internal Audit

    An Internal Audit Committee will be formed in the fall of each calendar year to complete an audit of our records for accuracy. This committee will be comprised of no less than 3 members. The annual audit will occur in October or November of each year and shall have up to 30-days to complete the internal audit. The Treasurer will turn over copies of all materials required to complete the audit, which will include but not limited to the checkbook spreadsheet, monthly bank statements for the previous 12-month period, PayPal Transaction Logs and documentation showing outgoing expenses and approvals when required.

    To complete the internal audit at least 2 members must have matching discovery of any record to be accepted as in error. Should no two audit records match, then the team will be expected to do another review or hold a meeting to discuss all identified items. Once completed the Internal Audit Committee will be expected to report their findings to the Board of Directors at the following month's meeting. The Audit Committee Report must be given no later than the December Board Meeting.

    Section 2. Authorizations and Approvals for Expenses

    a. All financial transactions require documentation, unless identified as a known ongoing expense. An example would be the annual web hosting fee or the payment to an insurer for bonding the Treasurer. All requests for funds must funnel through the Treasurer. Any expense or payment request that is deemed questionable shall be discussed at the next scheduled board meeting.

    b. Fund authorizations and approval levels:

    1. Treasurer can authorize up to $100 so long as documentation supports this request; or all identified ongoing expenses

    2. President, or Vice President if the President is unavailable, can authorize up to $200. The Treasurer will forward the request for approval prior to making payment. If the request has been denied the Treasurer will notify the individual making such request

    3. All fund requests in excess of $200 require approval of the Board of Directors. The Treasurer will forward the request for approval prior to making payment. The members of the board will vote on the request at the next board meeting or if delay in approval is not prudent, then at a Special Board Meeting. If the board denies request, Treasurer will notify the individual making such a request

    c. No individual may authorize fund requests, at any level, for personal gain. In this case the Treasurer will contact the next level for authorization. For example, the Treasurer won the door prize and is seeking reimbursement; the President is seeking reimbursement for expenses incurred by attending a convention.

    Section 3. Monthly Executive Review

    The Treasurer shall forward copies of all monthly documentation, such as bank statements, PayPal Transaction Logs and anything else that shows transactions to be reviewed each month by the President. The President shall report any concerns or perceived issues to the board members at the next scheduled meeting. If no concerns are brought to the attention of the board then the President has completed the Monthly Executive Review and accepts the records as is.

    Section 4. Bonding of Treasurer

    a. The Treasurer will be bonded annually through an insurance company of choice. The bond guarantee must be able to cover the entire value of our monetary assets, with a minimum of $5,000.

    b. It will be the President's duty to ensure the Treasurer is bonded while in office. The President and/or Vice President will be involved with the bonding of the Treasurer and TAS shall be responsible for paying the annual bonding fee.
    Comments 1 Comment
    1. Danburns's Avatar
      Danburns -
      Voting is expected to occur after Sunday, November 16, 2014.

      Has the vote to amend the bylaws for inclusion of this article already occurred? If not, could we have it scheduled for the next meeting, please?