Article G- Finance (continued)

Section 5. Disbursements.
Payments for Two Thousand, Five hundred dollars ($2,500) or less may be made by the Treasurer or other designated officer in the absence of the Treasurer, without written approval of any other officer. Payments over $2,500 require signature approval of another officer as the Board of Directors may designate for that purpose.

Section 6. Bonds.
At the expense of the Association, the President, Vice Presidents, Secretary and Treasurer may be asked to deliver to the Chairperson of the Association a bond to be kept in force and in such form and amount and with a surety satisfactory to the Board, conditioned for faithful performance of their fiduciary duties, and for restoration to the Association, in case of their death, resignation, retirement or removal from office, of all books, papers, vouchers, money and property of whatever kind in their possession or control belonging to the Association.

Section 7. Financial Reports.
The Treasurer shall submit quarterly statements and an annual statement of receipts and expenditures to the Board of Directors.

Section 8. Audit.
The financial records of the Association shall be audited by a certified public accountant as soon as possible after the close of each calendar year and a report thereon made to the Board of Directors.