Budgeting any fiscal year or the remaining part of any fiscal year shall not deviate materially from board ENDS priorities, fail to support strategic goals, risk fiscal jeopardy, or fail to be derived from a multi-year plan.
Accordingly, the Chief Executive Officer may not cause or allow budgeting which:
- Endangers the fiscal soundness of future years or ignores the building of organizational capability sufficient to achieve ends in future years.
- Fails to provide a board contingency account with a board-approved level.
- Provides less than an annual budget of $100,000 for auditing and board operating expenses.
- The CEO may not present a budget that exceeds the Board’s annually approved budget guidelines.
Drafted: June 7, 1996
Approved: October 22, 1996
Revised: February 7, 2002
