ARTICLE XIII – FINANCIAL ADMINISTRATION
Section 1. Fiscal Year
The fiscal year of BCHI shall be established by the Board of Directors. (see policy 30)
No change to the fiscal year shall take effect without at least sixty (60) days advance notice and appropriate coordination with financial reporting obligations.
Section 2. Financial Controls
The Board shall establish financial controls, which may include dual authorization for disbursements.
Funds shall be deposited in approved financial institutions.
BCHI may conduct fundraising activities consistent with its purposes and applicable law.
Section 3. Review or Audit
The Board shall cause an annual financial review, audit, or examination appropriate to the size and complexity of the organization.
One response to “Book1 – ARTICLE XIII – FINANCIAL ADMINISTRATION”
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Fiscal Year Clarification Recommendation
Policy 30 currently establishes the fiscal year as April–March. After further review, this may add unnecessary complexity at this stage of the rewrite.
It is recommended that we simplify and strengthen the structure as follows:
1. Move Fiscal Year to the Bylaws
The Bylaws should define the fiscal year as:The fiscal year shall be January 1 through December 31.
Placing this in the Bylaws provides stability and ensures the fiscal year cannot be easily changed by policy alone.
2. Revise Policy 30
Policy 30 should no longer define the fiscal year. Instead, it should address operational alignment:Budget cycle aligned with the Annual Convention
Financial reporting structured around the Convention cycle3. Remove Conflicting References
Remove any references to Policy 30 or fiscal year definitions from the Bylaws to avoid duplication or conflict.Result
This approach:
✔ Simplifies the governance structure
✔ Avoids IRS complications
✔ Minimizes retraining and transition impacts
✔ Keeps the fiscal year stable while allowing operational flexibility through policy
Fiscal Year Clarification Recommendation
Policy 30 currently establishes the fiscal year as April–March. After further review, this may add unnecessary complexity at this stage of the rewrite.
It is recommended that we simplify and strengthen the structure as follows:
1. Move Fiscal Year to the Bylaws
The Bylaws should define the fiscal year as:
The fiscal year shall be January 1 through December 31.
Placing this in the Bylaws provides stability and ensures the fiscal year cannot be easily changed by policy alone.
2. Revise Policy 30
Policy 30 should no longer define the fiscal year. Instead, it should address operational alignment:
Budget cycle aligned with the Annual Convention
Financial reporting structured around the Convention cycle
3. Remove Conflicting References
Remove any references to Policy 30 or fiscal year definitions from the Bylaws to avoid duplication or conflict.
Result
This approach:
✔ Simplifies the governance structure
✔ Avoids IRS complications
✔ Minimizes retraining and transition impacts
✔ Keeps the fiscal year stable while allowing operational flexibility through policy