Article XII Fiscal Year and Finance

12.01 FISCAL YEAR

The fiscal year of the Caucus shall be the calendar year. A review of the books shall be conducted at the beginning of each fiscal year and any time a new treasurer is appointed. The review shall be conducted by a committee of three members in good standing appointed by the president and approved by the board. If possible, a CPA or other accounting professional shall serve on the committee.

12.02 FUND BALANCE

The Caucus shall maintain a minimum Fund Balance of the greater of either $10,000.00 or an amount equal to an average of the base operating expenses for the previous three (3) years. Temporary expenditures may be made against the Fund Balance for significant costs that will be quickly recouped through fundraising or other revenue on an occasional basis in accordance within other applicable expenditure guidelines and requirements.

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