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Line 100:
Line 100: − * The savings account must have a balance consisting of:+ − ** 5 months minimum operating expenses ($46,664.95). This is to be an emergency fund that should only be used in cases of emergency, at the discretion of the Board of Directors. − ** By the end of the Fiscal Year, it should also contain a contribution of $5,000 towards the cost of moving the organization in the future. − * Note: Funds required to reach these balances are covered as the savings goals line item in the master budget. − − === Area Host Spending === − * Area hosts will be issued a expense card with an initial value of $500. − * Area hosts are authorized to spend up to the budgeted amount listed in the master budget page. The spending of this amount should be prorated over the year to allow the organization to collect the required income to fund the spending. − * Area hosts may authorize individual members to spend money against area budgets for the purpose of better serving those areas, at the discretion of the board. − * Area hosts are authorized to spend beyond the $500 PEX card limit, if the expenditure is noted in the respective area budget. − * Area hosts may spend any amount within their budget to replace or repair existing tooling or machinery. − * The categories in each individual area host budget are guidelines and area hosts are not required to spend their money exactly as allocated on the master budget page. − ** Area hosts must complete an itemized expense report after spending any money on an expense card. − ** Area hosts must request additional funds be placed on their card to cover purchases over $500. − ** All expenses for a month are to be submitted to the treasurer by the first day of the following month. Replenishment or additional funds may be withheld without properly reported expense reports.
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=== Account Balances ===
=== Account Balances ===
* Funding of savings goals/accounts should be amortized over the year. Spending in other categories can still occur before these goals are met.
* Funding of savings goals/accounts should be amortized over the year. Spending in other categories can still occur before these goals are met. After the required balances are met, all money may be used for area host and vote spending.
=== Board of Directors Spending ===
=== Board of Directors Spending ===