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- This manual documents the [ORGANIZATION’S NAME] Board’s strategic policies, delegation of authority, expectations for results and assignment of resources. It is the necessary link between the members’ bylaw clients’ by law delegation of authority to the Board and the CEO’s plan of organization.
- Compliance with these Board policies is expected.
- Continuous, open communication is essential in gaining a consensus regarding the interpretation of these policies.
- This manual makes no attempt to address every possible circumstance or to restate provisions in any other governing or guiding documents.
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Officials, elected or appointed , and management are expected to be familiar with each section of this manual. The value of any one section or paragraph may rely heavily on others. General agreement on these statements is essential for implementing policies and assuring accomplishments.
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- Have custody of all funds, securities, valuable papers and other assets of this organization.
- Sign all notes of this organization , and all checks, drafts, and other orders for disbursement of its funds.
- Provide and maintain full and complete records of all assets and liabilities of this organization in accordance with forms and procedures prescribed by federal regulation in compliance with generally accepted accounting principles.
- Within fifteen (15) business days after the close of each month, prepare and submit to the Board a financial report showing the condition of this organization as of the end of the month, including a summary of delinquent loans. He/ she shall promptly post a copy of such statement in a conspicuous place in the office of the organization where it will remain until replaced by the financial statement for each successive month.
- Prepare and forward to the [ENTER REGULATORY AGENCY NAME HERE] such financial and other reports as the Administration may require.
- Expenses/ Fixed Assets:
- CEO- Approve expenses, repairs and renovations in accordance with the approved budget. Approve purchase of fixed assets not to exceed [ENTER AMOUNT HERE]
- Board of Directors- Approve purchase of fixed assets exceeding [ENTER SAME AMOUNT HERE]
- Budget:
- The CEO will prepare an annual budget for the review and approval of the Board of Directors. The Budget will focus on balance sheet assumptions and interest rate projections to ensure that the budget will meet the goals for return on assets, capital to assets, and various other key ratios.
- Third Party Marketing Relationships:
- The Board of Directors has delegated the responsibility for the selection and maintenance of all third party marketing relationships to the CEO.
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