| ID | 73 |
|---|---|
| Bylaw ID | 201 |
| Head | Finance Committee |
| Body | <p>A District Finance Committee shall safeguard the assets of the district fund by reviewing and studying the amount of per capita levy and necessary expenses of district administration meet quarterly and prepare an annual report on the status of the district’s finances, to be presented at the district assembly.</p><p>The Finance Committee shall consist of the District Governor, the District Governor Elect, the District Governor Nominee, the Foundation Director, the District Conference Chair, the most immediate Past District Governor active in a D6900 Rotary Club, the District Treasurer and up to three appointed members. The siting governor shall appoint one Rotarian to serve for one three-year term. The Executive Office Manager is an ex-officio non-voting member of the Committee. The most immediate Past District Governor active in a District 6900 Rotary Club shall chair the committee. No appointed member of this committee shall serve more than three consecutive years.</p><p>Cooperating with the Governor Elect, this committee shall prepare a budget of district expenditures that shall be submitted to the clubs at least four weeks prior to the district assembly and approved at a meeting of the incoming club presidents at the district assembly. The amount of any per capita levy on clubs for a district fund should be decided in accordance with the RI Bylaws. (RCP 17.060)</p><p>The District Fund shall be financed by all clubs in the district by way of per capita levy on the members of these clubs. The amount of the levy shall be decided by either:</p><ol><li>The District Assembly after the approval of three-fourths of incoming club presidents present, provided that where a president-elect is excused from attending the district assembly by the governor-elect in accordance with article IX, section 5(c) of the standard club constitution, the designated representative of the president-elect shall be entitled to vote in the president-elect’s place, or, at the option of the district,</li><li>The District Conference by a majority of the electors present and voting.</li></ol><p>The per capita levy is mandatory on all clubs in the district. The district treasurer shall serve as a member of the committee and keep proper records of income and expenditure of the fund. The funds shall be held in a bank account in the name of the district and operated upon by the governor jointly with another member of the Finance Committee who shall preferably be the treasurer when available. It is highly encouraged that the district fund account be held with a banking institution that has locations throughout the district. By having a permanent district banking account only signatures would need to be changed on an annual basis. A majority vote of the Finance Committee is required for a change of banking institution for sources of the district’s funds (RI, TRF, District and Clubs). Any change to the authorization shall be approved by the Finance Committee. The Finance Committee may authorize the treasurer to place operating funds in an interest-earning account such as a money market account to better utilize the funds.</p><p><b>Annual Statement and Report of District Finances</b></p><p>The outgoing governor shall arrange for timely filing of the district federal tax return and for an annual statement and report of the district finances that has been independently reviewed by a district audit committee. A copy of this annual statement and report of district finances must be provided to each club in the district within three (3) months of completion of the governor’s year in office. The annual statement and report shall be presented at the next district conference to which all clubs are entitled to send a representative and for which a 30-day notice has been given that the statement and report of district finances shall be presented for discussion and adoption.</p><p>NOTE: For District Audit Committee selection requirements and Annual Statement and Report of District Finances details required see: Latest Copy of RI MOP, RI BYLAWS PAGE 225 & 226 Article 15 Districts 15.060.4. District Statement and Report of District Finances.</p> |
| Note | changed chair to immediate PDF; approved by electronic ballot by the clubs 6/23/2020 |
| Author | 5438 |
| Rev Date | 2023-06-27 00:00:00 |