CAGEN
Financial Policy
The American Chiropractic Neurology Board, Inc. shall maintain a bank account in a bank that has national offices. All members of the Board of Directors shall be signatories on the account. Two Directors sign the paper checks. The Board shall maintain online checking with electronic bill pay. The Treasurer of the Board is responsible for paying all the bills in a timely fashion and not in a manner in which the bills would not be late. Bank statements are to be reconciled monthly. The Board may place funds not in immediate use into a Money Market Account through the Bank where the Board maintains checking and online banking.
Fee payments to the Board may be by check, cashier’s check, money order or online payment via credit cards. If Diplomates or Candidates make payments via credit cards, the Board may place a sir charge of not less than three percent (3%) of the total to cover credit fees.
Two Directors may approve expenditures of up to $500.00. A third Director may approve expenditures between $500.00 and $1,000.00. A full Board vote is required for expenditures greater than $1,000.00. This vote may be acquired either via a Board meeting with accompanying minutes or through an electronic mail vote where the Secretary of the Board retains the vote. The electronic vote may take up to seventy-two hours. A majority of the votes cast determines the outcome.
The Treasurer of the Board is to supply the Board with Quarterly Financial Statements of a minimum of the Profit and Loss Summary Report and a Detailed Profit and Loss Report when requested. The Treasurer presents both reports twenty-four hours prior to each Director’s meeting.