FISCAL
5.0 FISCAL
The American Association of the Deaf-Blind fiscal policies and procedures are discussed in this section under the following topics:
* Fiscal Policies
* Fiscal Procedures
5.1 FISCAL POLICIES
5.1.1 General Policies
* The fiscal year for AADB covers the period from January 1 to December 31.
* Regular expenditures of AADB shall be made in accordance with a budget prepared by the Finance Committee and approved by the Board (bylaws).
* The Executive Director develops the budget in consultation with the Finance Committee.
* The approved budget will be published in each January-March issue of the DEAF-BLIND AMERICAN (deadline is November 15).
* Non-budget expenditures must be approved by the Board 	(bylaws).
* Expenditures that are greater than $3000 or more than 10 percent over a budgeted line item (whichever is less) must be approved by the Board.
* Purchases of items costing over $500 will require at least 3 price quotes or actual cost. The lowest bidder or price will be used unless the quality of service or product is superior at the higher cost, or if the less expensive sources for the service or product are not currently available. This shall be documented. (Applies to equipment and services, including interpreters – does not apply to travel). 
5.1.2 Policies Regarding Reallocating Funds and Unexpected Expenditures
* The Program Manager may reallocate funds from one line item to another if the amount differs from its previously approved level by no more than $200 or 10 percent (whichever is less).
* Non-budgeted expenditures, and expenditures which are more than $200 over the budgeted amount or more than 10 percent over the budgeted amount (whichever is less), each require approval of the Board.
5.1.3 Financial Report Policies
* The full budget should go to the Board two weeks in advance of the meeting for approval.
* A summary of the report will be provided during the general business meeting.
* Financial reports will display in separate columns:
o expenditures and revenues by line item categories;
o the approved budget by line item categories;
o the percentage of expenditures and revenue compared to budget to date.
* The form 990 is available to the general public upon request.
5.1.4 Reimbursement Policies
* The expenses of Board Members, committee members, staff and any other designated representatives of AADB, as well as those of their SSPs, shall be reimbursed when traveling to meetings of the Board or committees, or when officially representing AADB at other events.  Section 5.2.3 below page 38, provides the procedure for reimbursement.
* Reimbursement shall include:  the cost of transportation (including parking) or mileage at the per mile rate approved by the US Internal Revenue Service; hotel; and per diem to cover food expenses at a rate of $6.50 for breakfast, $8.50 for lunch, and $20.00 for dinner.  
* Reimbursed travel must be booked for the least expensive fares available.  If airfare is more than $300, the traveler must check with the AADB office before booking.
* If Board Members, committee members, staff and any other designated representatives of AADB bring their spouse or friend to AADB meetings, AADB will pay only 1/2 of their hotel room.
* Whenever Board or committee meetings are held in conjunction with the AADB conference, reimbursement will not be available for Board or committee members.  This is based on the presumption that leaders and active members of AADB would be at such conferences already.
5.1.5 Fundraising Policies
AADB shall use fundraising strategies and companies that are in compliance with guidelines set forth by the Better Business Bureau.
5.1.6 Policy on accepting honorarium
* If an agency/organization contacts an individual Board member directly to make a presentation, the person can accept honorarium if the individual is not representing AADB
* If an agency contacts AADB and requests a representative from AADB, the honorarium would go to AADB as a donation.
5.1.7 Policy on accepting bequests
Any bequest or unanticipated contribution to AADB which is not otherwise designated shall be placed in a special fund until such time as the Finance Committee and the Board shall designate how the money is to be used.
5.2 FISCAL PROCEDURES
5.2.1 Procedure for Developing the Budget 
> The Executive Director will develop a proposed budget for the following year by at least 2 weeks prior to the fall financial committee meeting.  The budget will be given to the Finance Committee for their review and feedback.
> The Finance Committee will submit the proposed budget and financial recommendations to the Board, along with any justifications for significant changes in the budget, 2 weeks prior to the Fall Board meeting.
> The Board will review the proposed budget, make any revisions it feels are necessary, and approve the final draft of the budget by December 31 of the year prior to the budget year.
> Authority for signing transactions:
o The Executive Director, the President and the Treasurer are authorized to sign any financial transactions on behalf of AADB.
o Any expenditure above $7,000.00 on a check requires 2 signatures.
5.2.2 Procedure for Board Approval of Reallocation and Unbudgeted Expenditures 
Any requests for unbudgeted expenditures must go through the President for approval by the Board.
5.2.3 Procedure for Reimbursement
> All requests for reimbursement shall be sent to the AADB Office, using a form if one has been provided. All expenditures except per diem reimbursement for food require a receipt for reimbursement.
> Section 5.2.2 above, provides the procedure for Board approval of reallocation and unbudgeted expenses.
5.2.4 Procedure for Expenditures
> The Program Manager shall issue disbursements only for expenditures which are within $200 or 10 percent of the budgeted expense (whichever is less) or which have been approved by the Board.  Section 5.2.2 above on page 38, provides the procedure for Board approval of reallocation and unbudgeted expenses.
> The Program Manager will record each expenditure in the accounting system, coded to the appropriate budget category, and will support all disbursements with invoice, timesheet or other documentation.
> The Executive Director shall inform the President and Treasurer of any expense line item(s) that are $3,000 or 100 percent (whichever is less) over the approved budget.  This report shall be made by December 1 of the budget year.  The President shall seek the Board’s approval on or before December 15 of the budget year.
> The Executive Director shall inform the President and Treasurer if the total expenses for the budget year are expected to be over the proposed budget.  This report shall be made by December 1 of the budget year.  The President shall seek the Board’s approval on or before December 15 of the budget year.