a) Fiscal Year. The SFWDC’s fiscal year shall be from January 1 of one year to December 31 of the same year.
b) Financial Planning. Treasurer shall prepare annual budget. The Administrative Board shall be responsible for approving the annual budget; monitoring actual against projecting on a quarterly basis and making adjustments to the budget if required.
c) Quarterly Financial reports. Quarterly financial reports may be compiled in conformity with standard business accounting practices, and reviewed by the Administrative Board and, within 30 days from each quarter end.
d) Annual Financial Statements. Complete financial statements compiled in conformity with standard business accounting practices, and accompanied by an annual tax return prepared by an independent CPA, may be reviewed by the Board within [60 days] of the close of each fiscal year.
e) Disbursements. Disbursements shall be made only in accordance with specific authorization and consistent with the general budget approved by the Chairman and President of Executive Committee, and accepted by the Administrative Board.
f) Annual Report. An annual report updating as required the SFWDC’s purpose, structure, programs, and financial condition shall be published in conjunction with the annual financial statements and made publicly available for all Bonafede members to review.
h) Execution of Instruments. President in his discretion , except as otherwise provided in these Bylaws, or the Board may by resolution, authorize any officer or agent of the SFWDC to enter into any contract or execute and deliver any instrument in the name of and on behalf of the SFWDC, and such authority may be general or confined to specific instances. Unless so authorized, no officer, agent or employee shall have any power or authority to bind the SFWDC by any contact or engagement or to pledge its credit or to render it liable monetarily for any purpose or in any amount.
i) Checks and Notes. Except as otherwise specifically determined by resolution of the Board of Trustees, or as otherwise required by law, checks, drafts, promissory notes, orders for the payment of money, and other evidence of indebtedness of the SFWDC shall be signed by the Treasurer and countersigned by the President.
j) Deposits. All funds of the SFWDC shall be deposited from time to time to the credit of the SFWDC in such banks, trust companies, or other depositories as the Administrative Board may select.
k) Gifts. The Administrative Board may accept on behalf of the SFWDC any contribution, gift, bequest, or devise for the nonprofit purposes of this SFWDC.