Finances

Section 1 – Fiscal Year

The fiscal year shall be the calendar year.

Section 2 – Budget

The GCA will operate under a budget approved by the membership. The budget will include, but not be limited to, the identification of, and the amount allocated for, recurring expenses (i.e., Selected publications and special gifts to organizations such as the Glendale Police and Fire Departments).

Section 3 – Budget Development and Review

A Finance Committee shall be appointed as required from within the full board by the President. This committee will be chaired by the President-Elect and will include the Treasurer, and one (1) other Board member selected by the President, plus the Senior Director of Campus Life and the Glencroft Vice President of Philanthropy as ex-officio, non-voting members. A Proposed budget will be presented at the October Board meeting.

Section 4 – Budget Approval

The Treasurer will present the Board approved proposed budget for membership review at the November membership meeting and for adoption at the regular December Membership Meeting.

Section 5 – Board Authority

At a regular scheduled meeting of the Administrative Board or a Special meeting of the Executive Board, each Board can approve the expenditure of up to $2,500.00 in funds not approved in the annual budget. These transactions will not conflict with the approved budget or any previously approved expenditures and will be reported to the GCA membership at the next regularly scheduled monthly meeting.

Section 6 – Fund Raising Activities

All requests for special fund-raising activities will be reviewed by the Administrative Board. If supported, the request will be presented to the membership for approval. If required, the Board President will appoint or recommend a GCA member to be responsible for the fund-raising activity. The following fund-raising activity will be supported by the GCA:

Yearly Glencroft Employee “Thank You” Fund Drive: This activity is the responsibility of the Past President.

Section 7 – Special Projects Review

A Special Projects Review Committee shall be appointed, as required, from within the full Board by the President. This committee shall be responsible to review all special projects, programs and services which are designed to benefit the Glencroft Community. This committee shall be chaired by the GCA Vice President and will include, at a minimum, the Treasurer and a GCA Member at Large. This committee shall submit its recommendations to the Administrative Board as required.