Nawic Southeast Region Event Fund

Nawic Southeast Region Event Fund

NAWIC SOUTHEAST REGION EVENT FUND

PURPOSE

The Event Fund is established in order to assist the Southeast Region’s Hosting Chapter(s) with expenses for Fall Conference and Annual Forum. The Fund shall be named “NAWIC Southeast Region Event Fund”. This will be a separate account from the Administrative Fund for the Director.

FUND

  1. These monies shall be provided through contributions the Hosting Chapter solicits from a variety of sources; i.e., other Chapters, member organizations, vendors, seed money from previous events, etc…
  1. The fiscal year of the Fund shall coincide with the NAWIC fiscal year.
  1. Fees associated with operation of the Region’s Event Fund account shall be paid out of the Fund.
  1. The fund records shall be maintained electronically.
  1. The balance of this fund shall be ongoing.
  1. At each Region event, the Event Fund Guardian will present a written report of year-to-date Income and Expenses for the Fund.

TRUSTEE COMMITTEE AND DUTIES

  1. The Trustee Committee of the Southeast Region Administrative Fund shall also serve as Trustees of the Southeast Region’s Events Fund and will serve for a term of two (2) years to coincide with their service on the Administrative Fund, but not to exceed two (2) consecutive terms. (Reasoning: If we have separate trustees it would mean the Director would be responsible for changing out twice as many signature cards every two years. This way it is done once during her term except for the one person that would change yearly depending on the hosting Chapter, see part D.)
  1. The Director shall appoint a Guardian with responsibility for accounting, maintenance, and distribution of the funds. The remaining Trustees shall serve as auditors. The Guardian can be the Administrative Fund Guardian but it is recommended that another Trustee be appointed Events Fund Guardian as to not overload one person.
  1. Fall Conference: The Events Fund Guardian will disburse funds for Fall Conference. The Trustees shall serve as auditors. (Reasoning: Fall Conference is not a mandatory event. If Fall Conference is held at multiple sites with multiple Host Chapters it would not be practical to have a Trustee for each Hosting Chapter.)
  1. Annual Forum: The Director will appoint one (1) additional Trustee from the Host Chapter. It would be ideal for the Host Chapter’s Event Treasurer to be appointed Trustee. The Host Chapter Trustee, in coordination with the Event Funds Guardian, is responsible for the accounting, maintenance, and distribution of the funds. The remaining Trustees shall serve as auditors. (Reasoning: One person from the Host Chapter should be able to sign checks and coordinate everything with the other Trustees.)
  1. The Host Chapter Trustee shall begin service once appointed by the Director and end thirty (30) days after the Event (in order to finalize all banking transactions). Immediately after the thirty (30) days, the Event Fund Guardian, with the assistance of the Host Chapter Trustee, shall submit a final Treasurer’s Report to the Trustees at which time the Trustees will audit the records. The audit shall be completed within fifteen (15) days of submission by the Guardian and an Audit report submitted by the Trustees to the Director. It is the Director’s responsibility to forward the Event’s final Audit Report to all Chapter Presidents. Once the Director has received the Audit report from the Trustees, she shall then appoint another Host Chapter Trustee for the following year’s Annual Forum. This will ensure the hosting Chapter will complete all financial transactions so the next year’s hosting Chapter can begin their planning.
  1. The Event Fund Guardian shall be responsible for obtaining the signature card for the incoming Host Chapter Trustee and removal of the previous Host Chapter Trustee. The Director and Fund Trustees (including the Guardian) will hold a conference call to confirm the selection of the incoming Host Chapter Trustee and the removal of the outgoing Host Chapter Trustee. The minutes of that meeting will be made available to the banking institution for signature card changes.
  1. The Trustees shall close Fund accounting records on September 30th of each year and submit a final Audit report to the Director. It is the Director’s responsibility to forward a copy to Chapter Presidents.

ADMINISTRATION

  1. The monies shall be maintained in a checking account specifically designated as NAWIC SOUTHEAST REGION EVENT FUND, in an insured banking institution located conveniently in several locations with the Region boundaries.
  1. The signatory on this account shall be the Event Fund Guardian and the four (4) Trustees (3 Trustees from Administrative Fund and 1 from the Host Chapter). The Host Chapter Trustee is responsible for obtaining the approval for withdrawals and must document the approvals on the Check Approval Form (attached Word document). Approval statements must be received from at least two (2) of the four (4) Trustees prior to signing the check and the printed statements must be attached to the Check Approval Form and submitted monthly with the Monthly Treasurer’s report. (Reasoning: this will allow a little more flexibility to the Host Chapter to pay for expenses without having to mail a check to another Trustee to obtain a second signature. It will also encourage the Chapters to conduct all transactions within the Event Fund instead of their Chapter checking accounts. Approval for Director expenses is currently approved like this.)
  1. The Host Chapter Trustee is responsible for submitting a monthly Treasurer’s report to the Guardian and other Trustees; due last day of each month. A copy of the required Treasurer’s report is attached as Appendix A (Excel Spreadsheet). Complete accounting records shall be maintained by the Host Chapter Trustee and are to include sponsor names and contributions, disbursements with supporting documents, checks issued, etc….
  1. It shall be the responsibility of the Director, with the assistance of the Event Fund Guardian and Host Chapter Trustee to file the Form 990-N for the Event Fund, as required.

DISSOLUTON

  1. In the event of the dissolution of this Fund, any monies remaining after all outstanding expenses have been paid shall be deposited into the NAWIC Southeast Region Administrative Fund.
  1. In the event of region redistricting by the NAWIC Board, this Fund will be merged OR split, as necessitated by the redistricting.
  1. In the event of the dissolution of this Fund due to the dissolution of the region, any monies remaining, after all outstanding expenses have been paid shall be split evenly and transferred to the NAWIC Education Foundation as a donation from the Southeast Region and to the NSFS to provide scholarships in the states of Alabama, Florida, Georgia, or Tennessee.

ADMENDMENT

  1. The Guidelines may be amended at any Annual Regional meeting by a two-thirds vote of the Southeast Region members present provided that the proposed amendment has been submitted in writing to the Chapters at least sixty (60) days prior to the date of such meeting.
  1. Changes that are editorial in nature (i.e. do not affect the meaning or the intent of the document) do not require a vote.
  1. The Director will issue each Chapter President a copy of the Event Fund Guidelines (as revised) within thirty (30) days of any changes, whether editorial or substantive, and shall have the Guidelines posted on the Regional website. Also, a copy shall be included in the minutes of the meeting at which the changes were adopted and an additional copy shall be forwarded to the NAWIC Executive Vice President to be filed in the Region records.

INITIAL APPROVAL DATE:

REVISIONS:

Top View