NORTH CAROLINA LIBRARY ASSOCIATION
FINANCE COMMITTEE REPORT

October 18, 2002

During the previous quarter (July through September), the Finance Committee approved two Project Grants, one from LAMS and one from the Literacy Committee. This brings the total dollar value of grants approved for 2002 to $3,394.10. With $1,605.90 remaining of the 2002 Project Grant allocation, the Committee will add a November 15, 2002 deadline for additional grant applications and encourages other eligible groups to apply. However, please note that all grant funds provided during this year must have the funds expended and all expenditures reported to the NCLA Treasurer by December 15, 2002.

At the July 19, 2002 Executive Board meeting, the Board approved the Finance Committee's recommendation to require committees to submit proposed budgets to the Finance Committee at the beginning of each year. In order to be eligible for funds during FY2003, committees must submit a proposed budget to the Finance Committee by January 10, 2003. When developing the proposed budget, please keep in mind that the amounts indicated for each committee in the approved budget may not be exceeded by more than 5% without prior Finance Committee recommendation and Board approval. In order to be able to increase the allocation of funding to program areas, the Finance Committee recommends that the following items not be eligible for inclusion in committee budget proposals, and thus not paid from NCLA funds: * Meals/refreshments for committee meetings * Travel to/from committee meetings

In the NCLA Handbook, under NCLA Executive Board Standing Rules and Policies, Section B. Non-Codified Policies, the second item under Finances states that

"All requests for funding shall be referred to the Finance Committee for a financial analysis upon which the Executive Board may take action."

Since this may not always be practical or possible, the Finance Committee would like to put the following issue on the table for discussion for general input. Is there a dollar amount that can be approved for expenditure by either an individual board member or by the Administrative Assistant without having to go through the Finance Committee and the entire Board? Is so, can one individual approve it or should it require at least two?