Article XII – Budgetary Control

Section 1 -  Fiscal Year — The fiscal year of this Association and each affiliated chapter shall be from June 1 through May 31, inclusive.

Section 2 - Name — All monies in the General Fund of this Association shall be deposited in such financial institution as is determined by the Board of Directors in the name of the “Oregon School Employees Association, AFT Local 6732.”

Section 3 - Budget Preparation Responsibility — The Executive Director, in conjunction with the Director of Fiscal Operations and the Finance Committee, shall prepare an annual budget which shall be subject to review and approval by the Board of Directors for presentation to the delegates at each Annual Conference.

  1. Each annual budget shall contain itemized estimated receipts and expenditures and shall indicate amounts to be set aside for reserve funds.
  2. The Association shall, at least sixty (60) days prior to the Annual Conference, send to all its affiliated chapters a copy of the proposed budget, which shall include the adopted budgets and actual expenditures during the past three (3) fiscal years in a side-by-side format. All such documents shall also be provided to the delegates at each Annual Conference.
  3. All resolutions proposing a revision of the current dues structure brought before the Annual Conference delegates shall be acted upon prior to any other resolutions.
  4. All resolutions impacting the budget brought before the Annual Conference delegates shall be considered and acted upon prior to adoption of the annual budget and such resolutions shall be considered prior to any other resolutions which do not impact the budget.
  5. Adjustments to the proposed budget, only if necessitated by resolutions adopted during the Annual Conference, shall be made by the Executive Director, with approval of the Board of Directors, prior to its final adoption.

Section 4 - Regulation of Expenditures — Funds for the operation of the Association during the fiscal year shall be determined by the annual budget as is approved by a majority vote of the eligible voting body at each Annual Conference.

  1. The Association shall pay necessary expenses of the Board of Directors and all committees in accordance with OSEA Board Policy.
  2. All allowable and approved expenses of the OSEA membership shall be paid in accordance with OSEA Board Policy.
  3. The Board of Directors may approve, by a two-thirds vote, expenditures if required, which exceed the budgeted amounts if funds are otherwise available.

Section 5 -  Control of Funds — All funds of the Association shall be received and entered upon the records of the Director of Fiscal Operations which shall be kept under direction of the Executive Director and the State President. Regular books and full accounts showing all receipts and disbursements shall be maintained and shall be open at all times to the inspection of the State President, or designee, and the Finance Committee chair.

  1. A report as to the financial condition of the Association, including a detailed statement of receipts and disbursements for the fiscal year, shall be rendered at each meeting of the Board of Directors and each Annual Conference. Copies of such report shall be made available to each Chapter President upon request.
  2. All funds of the Association shall be kept in such depository as may be approved by the Board of Directors and shall be disbursed by the Director of Fiscal Operations. All checks written on Association accounts shall bear one signature. The authorized signatures shall be those of the Director of Fiscal Operations, the Executive Director, and the State President.
  3. The Director of Fiscal Operations shall be bonded in such amount as may be required by the Board of Directors and the premium of such bond shall be paid by the Association.

Section 6 - Audit of Fiscal Records — The Board of Directors shall, upon the close of each fiscal year, cause the fiscal books and records of the Association to be thoroughly audited by a competent and qualified person or firm not affiliated with the Association.

  1. The report and findings of the auditor shall be provided to the Board of Directors and the Finance Committee and shall be filed with the State Secretary at the next Annual Conference and made part of the official Conference minutes.
  2. The Board of Directors shall review and accept the auditor’s report and findings and, if recommendations are provided therein, shall take such action as it deems necessary and prudent to implement the recommendations.

Section 7 - Access to Chapter Funds — Any debits from local chapter bank accounts by the State Association must have prior approval of the local chapter.