Annual Budget & Treasurer's Authorization

The GUAA By-Laws states that the Association Treasurer, as one of the duties of this office, "shall receive all funds of the Association and shall pay out such funds as he is directed by the Board of Directors."

To further clarify this responsibility and to eliminate confusion, red tape (taking a mail vote, for example), time delays and other unnecessary inconveniences the GUAA Board has approved this revised policy.

An annual budget for the Association is prepared by the GUAA Treasurer and the Executive Director and presented to the Board for approval on an annual basis in the spring. The Association's fiscal year is from May 1 to April 30. A copy of each year's budget is included in the Guidelines. Once this budget has been approved the GUAA Treasurer is authorized to spend up to, but not to exceed, those amounts for which items have been budgeted. Any excess spending or expenditures for items not already covered in the budget must have Board approval before being made. (Minutes: 5/22/78)