Green Party of the United States - National Committee Voting

Home	Vote	Results	History	Contacts	Admin
	National Committee Voting

Login

Proposal Details

Proposal ID	401
Proposal	FISCAL POLICY OF THE GREEN PARTY OF THE UNITED STATES, revised
Presenter	FINANCE COMMITTEE
Floor Manager	Jody Grage
Phase	Closed
Discussion	06/29/2009 - 07/12/2009
Voting	07/13/2009 - 07/19/2009
Result	Failed
Presens Quorum	34 0.6666
Consens Quorum	60 0.6666 of Yes and No Votes

Background

This proposal repeals those sections of the GPUS Rules and Procedures related to Fiscal Policy and adopts a new document entitled Fiscal Policy of the Green Party of the United States. It includes the previously-adopted Donor’s Bill of Rights and policy on:
· loans.
· investments and endowments.
· fundraising.
· restricted funds.
· the state sharing program.
· the merchandise program.
· priorities for General Account expenditures.
· the budget process.
· financial reporting.
· the Finance Committee.

Proposal

Resolved, that the following Fiscal Policy of the Green Party of the United States (GPUS) is hereby adopted as a distinct document to govern the fiscal practices of the Party and to become on of the governing documents.

ARTICLE 1 PURPOSE AND APPLICABILITY

Section 1-1 Purpose
1-1.1 This Fiscal Policy is intended to make possible a higher level of Green political activity, while safeguarding the independence of the Green Party of the United States (GPUS), the autonomy of its member state parties, and the accountability of its political and fiscal officers.

Section 1-2 Applicability
1-2.1 This Fiscal Policy supersedes any conflicting provision of the Rules, Policies and Procedures of any committee, caucus, and/or network.

ARTICLE II INCOME

Section 2-1 Contributions from Individuals2-1.1 Contributions from individuals will be accepted in amounts as permitted by law. All excess contributions will be returned. Each individual contribution shall be reported as required by the Federal Elections Campaign Act, as such may be amended from time to time.

Section 2-2 Contributions from Organizations
2-2.1 In keeping with the Federal Election Commission regulations that prohibit such contributions, no contributions will be accepted from any corporation, union or bank, including non-profit corporation and not-for-profit corporation.

2-2.2 No contribution will be accepted from a Political Action Committee without the express authorization of the National Committee, even though otherwise authorized under Federal law.

2-2.3 Financial or in-kind contributions from individuals who own or operate businesses, sole proprietorships, partnerships, or not-for-profit limited liability partnerships are allowed. However, if the person’s business, proprietorship, or partnership is incorporated, the contribution must come directly from the person rather than through her/his business, proprietorship, or partnership.

Section 2-3 Reporting of Income
2-3.1 The Treasurer’s annual report to the National Committee shall include the most recent Federal Election Commission report which is viewable in the public domain and includes details on contributions.

ARTICLE III LOANS

Section 3-1 Reasons for Loans
3-1.1 The GPUS may take out loans to cover emergencies, sudden, unexpected expenses, or seed funds for special projects.

Section 3-2 Approval
3-2.1 Loans other than those from the Reserve Account and not exceeding a cumulative 1% of the Annual Budget, whichever is greater, may be executed upon publication of minutes documenting the support of a simple majority of the Steering Committee, and including their findings that the loan they made complies with 3-1.1, and including the loan’s source, amount, terms, and purposes and a plan and time line to repay it. Loans in excess of this cap require the support of a simple majority of the National Committee voting to adopt a resolution authorizing the obligation, and to make the same findings and provide the same information about the loan as required by one approved by the Steering Committee.
Section 3-3 Reporting
3-3.1 Whether authorized by the Steering Committee or the National Committee, all proposals to borrow in any amount must be reported to the National Committee prior to the final execution of any loan agreement and must include the loan’s source, amount, terms, and purposes and a plan and time line to repay each such loan.

3-3.2 Any such loan agreement, other than those from the Reserve Account, must be signed by the Treasurer and at least one other member of the Steering Committee, on behalf of the GPUS.

3-3.3 Loan proceeds will be deposited in the General Operating Account. The Treasurer's Annual Report to the National Committee shall include a full report on the status of all outstanding loans.

ARTICLE IV INVESTMENTS

4-1 Investments
4-1.1 Funds shall not be placed in any instrument whatsoever other than such bank accounts as may from time to time be designated by the Steering Committee as an authorized depository for Party funds, without the express, advance, and specific authorization of the National Committee, except for funds that are specifically contributed to be Endowed Funds.

4-2 Endowments
4-2.1 An Endowment is often established in memory of the donor or a person
beloved by the donor. Because of the precise language needed in a will, trust, or other document to ensure that the donor’s intent is realized, and because of the long-term nature of an endowment, donors are advised to have legal counsel to make the necessary testamentary documents.

4-2.2 The GPUS may accept Endowed Funds to be invested in long-term
instruments. Endowed Funds shall be managed so that the principal of any endowed funds is preserved to support the GPUS in perpetuity, while also providing that the income (dividends, interest or otherwise) be exclusively used for operational expenses as defined in Article 9, Section 2, except as may be otherwise directed by the donor.

4-2.3 Endowment principal funds are maintained inviolate and in perpetuity and invested for the purpose of producing future income. Donors stipulate this as a condition of the gift. The future dividends, interest or other income derived from the principle may be either expended, or added to the principal, at the discretion of the Party Steering Committee, upon recommendation of the Treasurer and Finance Committee.

4-2.4 Endowment funds received will be committed to investments that are in
compliance with the aims and goals of the GPUS and honor the intent of the Ten Key Values of the GPUS. The Treasurer and the Finance Committee will forward their recommendations to the Steering Committee for approval. These investments will be reviewed at least annually and this review will be included in the financial report at the Annual National Meeting.

4-2.4(a) With the recommendation of the Treasurer and the Finance Committee, the Steering Committee may accept endowment gifts of non-cash real-estate properties on behalf of GPUS. Such real-estate property may include, but not necessarily be limited to, improved or unimproved lands, houses and other buildings, mineral rights, and rights and royalties to severable materials in, on and under land.

4-2.4(b) Donors of such properties shall be encouraged to provide, along with the property, a sufficient cash corpus, the interest and other realized income proceeds from said corpus which GPUS shall use to pay the financial costs- such as property taxes and other necessary costs of owning and maintaining said donated real-estate property. Interest or other income realized from this corpus, beyond that necessary to pay the above listed and other necessary expenses, shall be considered Endowment Funds and to be invested as set forth in Section 4-2.2 of the GPUS Fiscal Policy. The Steering Committee may hold such properties for however short or long terms as it may determine to be in the best interest of the GPUS Endowment Fund, or in permanent trust. With the recommendation of the Finance Committee,
properties donated but without a cash corpus for maintenance and other costs of ownership may be sold or otherwise liquidated, by and at the determination of the GPUS Steering Committee, but only with the concurrence of the Finance Committee. Income realized from the sale, rental or other disposition of said real-estate property shall be considered Endowment Funds, and shall be invested as set forth in Section 4-2.2 and 4-2.4 of this Article of GPUS Fiscal Policy

4-2.4(c) With the recommendation of the Treasurer and / or Finance Committee, the GPUS Steering Committee may accept endowment gifts of non-cash *personal properties *such as valuable metals, jewelry, automobiles and any other non-cash personal property of value, and shall proceed to sell, barter or otherwise turn said personal properties into either cash or non-depreciable real-estate property at such time and in such manner at the Steering Committee may determine to be in the best interest of the GPUS Endowment Fund. Income realized from the sale, rental or other disposition of said Personal Property shall be considered Endowment Funds, and shall be invested as set forth in Section 4-2.2 and 4-2.4 of this Article of GPUS Fiscal Policy.

4-2.5 The Party National committee, upon recommendation of the Treasurer, Finance Committee and Steering Committee, may accept other gifts not designated by the donor as Endowment Funds, and consider them as Quasi-endowment funds, and ay determine them to be added to the Endowment Fund. Once so determined, these funds shall be treated inviolate and held in perpetuity- the same as all other Endowment Funds- and shall be invested as set forth in Section 4-2.2 and 4-2.4 of this Article of GPUS Fiscal Policy.

4-2.6 The Finance Committee shall on an annual basis submit a report to the National Committee for each endowment made to the GPUS on the original, historical and current market value of each such fund, the income from interest, dividends or other sources derived from each such endowment in the preceding fiscal year, and its recommendation for the reinvestment or expenditure of such revenues in the upcoming budget cycle. In making such recommendations, the Finance Committee is
urged to weigh the impact of inflation on the value of each endowment against the opportunity to fund current operations.

4-2.7 Sums to be drawn from Endowed Funds proceeds shall be as authorized by the Annual Budget, but may be drawn in installments at the discretion of the Treasurer.

ARTICLE V FUNDRAISING POLICY

5-1 Responsibility
5-1.1 The Fundraising Committee is the committee primarily responsible for directing the raising of funds for the operation of the GPUS.

5-2 Planning and Reporting
5-2.1 Each accredited caucus, committee and network that intends to engage in fundraising will create an annual fundraising plan and provide a copy to the Fundraising Committee for review.

5-2.2 Whether fundraising is done jointly or solely there shall be coordination with the Treasurer and/or staff for the completion of the necessary record keeping, the filing of any required reports and the deposit of all monies being generated from the
fundraising efforts. In addition there shall be an accounting of all monies expended in the fundraising efforts and in the operations following the fundraising efforts.

5-2.3 The Treasurer or designee shall provide each Treasurer (or other suitable officer) of each accredited caucus, committee, and network the requisite financial forms, either in hard copy or electronic format, to carry out their duties.

5-2-4 The Treasurer or designee shall provide, on a monthly basis, each Treasurer of each accredited caucus, committee, and network statements reflecting all monies deposited and spent.

5-2.5 Each accredited caucus, committee and network shall provide to the Treasurer or designee a working budget for each fundraising event. At a minimum the following will be provided to the Treasurer or designee: date of event, type of event, purpose of event, projected start-up costs, and receipts expected.

5-2.6 Each member state party participating in collaborative fundraising efforts with the GPUS shall provide the same information as required by Article 5, Section 2, Paragraph 2. The Treasurer or designee shall provide copies of all appropriate documents to the Steering Committee, the Finance Committee, and the Fundraising
Committee upon request or when appropriate.

5-3 Donors Bill of Rights
Donors to the GPUS shall have the right to:

5-3.1 Be informed of the GPUS' mission, of the way the GPUS intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.

5-3.2 Be informed of the identity of those serving on the National Committee and to expect the National Committee to exercise prudent judgment in its stewardship responsibilities.

5-3.3 Have access to the GPUS' most recent financial statements.

5-3.4 Be assured their donations will be used for the purposes for which they were given.

5-3.5 Receive appropriate acknowledgment and recognition.

5-3.6 Be assured that information about their donation is handled with respect and with confidentiality to the extent provided by the law.

5-3.7 Expect that all relationships with individuals representing the GPUS with the donor will be professional in nature.

5-3.8 Be informed whether those seeking donations are volunteers, employees of GPUS or hired solicitors.

5-3.9 Feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers.

5-4. Sustainers
5-4.1 Individuals may become Sustainers of the GPUS as defined in the Bylaws, according to procedures established by the National Committee. Sustainers shall receive Party publications and other benefits as determined from time to time by the National Committee. Members of state Green Parties shall be actively encouraged to become Sustainers of the GPUS.

ARTICLE VI RESTRICTED FUNDS

Section 6-1 Purpose
6-1.1 Restricted Funds shall exist for the following purposes, to:

6-1.1(a) Enable donors to specify that all or part of their contribution goes directly to a particular Restricted Fund or for a particular purpose.

6-1.1(b) Provide an opportunity for committees and caucuses to fundraise for projects and expenses authorized consistent with their purpose; and

6-1.1(c) Provide a more protected status for Restricted Funds within the budget process.

Section 6-2 Establishment
6-2.1 Internal Restricted Funds shall be established by the Treasurer at the request of a committee, caucus, or network. Other Internal Restricted Funds may be established as needed.

6-2.2 The State Sharing Restricted Fund is established to fund the State Sharing Program as defined in Article VII.

ARTICLE VII STATE SHARING

7-1 State Sharing Programs
7-1.1 State Sharing Programs are programs in which funds raised are shared between member state parties and the GPUS.

7-1.2 State party driven State Sharing Programs are those in which contributions are received through the efforts of a member state party.

7-1.3 National driven State Sharing Programs are those in which contributions are received through efforts of the National Party, its staff, contractors and its National Committee. These contributions are internal funds rather than conduit funds as defined by the FEC until or unless they are released to the states.

7-2 Coordination on Donor Lists with State Parties
7-2.1 Once per calendar year, member state parties are expected to make
available to the GPUS their donor lists for the purpose of fundraising. Other arrangements may be substituted in lieu of this with the approval of the Fundraising Committee. GPUS will use these lists for fundraising and outreach. GPUS will not share or sell these lists.

7-2.2 The Fundraising Committee as well as other committees, caucuses, and/or networks, shall coordinate the timing of any solicitation of state donors with the duly designated authority of each such member state party, so as to avoid conflict between state and national party fundraising efforts.

7-3 Revenue Sharing With State Parties.
7-3.1 The percentage of income allocated to member state parties and the GPUS in state party driven and national driven State Sharing Programs shall be approved by resolution of the National Committee.

7-3.2 To identify each contribution as part of a state driven or national driven State Sharing Program and to calculate state sharing, each State Sharing Program shall be assigned a code as part of the database records.

7-3.3 If the donor’s member state party cannot accept its full share of the money for its own use, the assistance of the Treasurer and the member state party treasurer shall be required for a decision as to the disposition of the state party’s share of the donor’s contribution, along with the Fundraising Committee.

7-3.4 Requests for donations made by the GPUS shall include a check-off box for state sharing at the donor’s request.

ARTICLE VIII MERCHANDISING

Section 8-1 Merchandising
8-1.1 The Merchandise Committee shall select merchandise that is consistent with the GPUS' purpose and the Ten Key Values in design, materials, production, marketing and distribution, and should always reflect the dual goals of building public awareness and support for the Green Party on local, state and national levels, while generating income for the GPUS.

8-1.2 The Merchandise Committee will present proposals to the Finance Committee for purchase of merchandise.

8-1.3 The Merchandise Committee shall provide Party merchandise purchased in bulk for resale by an Accredited Caucus or member state party at preferential prices which ensure a return on the investment made by the GPUS while affording an opportunity for caucuses and member state parties to also use such inventory for their own fundraising efforts.

8-1.4 The National Committee may adopt rules for the Merchandise Committee under which the Finance Committee determines and adjusts a formula for the reinvestment of merchandising revenues in program inventory.

ARTICLE IX EXPENDITURES

Section 9-1 Expenditures From The General Operating Account
9-1.1 No expenditures from the General Operating Account shall be made, except by the Treasurer upon written request and only when such expenditures have been authorized in an Annual, Revised, Continuing or Interim Annual Budget adopted pursuant to these rules; except that the Treasurer shall also make individual payments when the Steering Committee approves discretionary expenditures under policies set forth in this Fiscal Policy.

9-1.2 The Treasurer, when authorized in an approved budget, may make
expenditures from the general funds up to a maximum of $2,000 for individual payment without additional signatures from the Steering Committee member who, as provided for in this policy, is co-chair of the Finance Committee and is on the banking signature card. For payments in excess of the amount of $2,000 the Treasurer shall request and obtain an electronic approval from that Steering Committee member for each payment.

9-1.3 All expenditures must be made by check or credit card, except that a petty cash fund will be managed in the GPUS national office and by the Annual National Meeting Committee for the handling of small local expenses. Monthly reports of this fund shall be made available to the Accountant and Treasurer.

9-1.4 All expenditures will be recorded and accounted for using generally accepted banking and accounting practices, and a report of all expenditures, including payees and amounts, will be available for member review at the national office.

9-1.5 Bank statements along with their associated reconciliations will be available to any member of the National Committee or Steering Committee upon request.

9-1.6 Authorization of expenditures in the budget does not authorize committees, employees or other representatives to actually expend Party funds without specific and separate written permission of the Treasurer or the Steering Committee. A budget is a projection of the desired expenditures and does not guarantee that funds will be available.

9-1.7 Requests for funds shall be filed with the Treasurer for forwarding to the Finance Committee and contain: the name of committee or caucus requesting funds; source of funds (Restricted Fund or budget line number); purpose for which funds are being requested; documentation of committee/caucus decision to request funds; time anticipated for use of requested funds; exact name of payee; and exact
address to which to send payment.

9-2 Prioritization of Expenditures
9-2.1 When drawing from the General Operating Account, the GPUS shall satisfy its legal and contractual obligations first, and shall prioritize its operating expenditures in the following order
9-2.1(a) Payroll taxes
9-2.1(b) Staff payroll, office lease, utilities
9-2.1(c) Independent contractors
9-2.1(d) Vendors that are indispensable to operations
9-2.1(e) Expenditures with a reasonable expectation of a return on
investment in a short period of time

Section 9-3 Reimbursement of Expenditures
9-3.1 In order to guarantee reimbursement of expenditures by any committee, employee or other representative, such person must have written permission to expend funds as authorized by the Annual Budget or this fiscal policy. The Treasurer may choose to authorize, and any individual may choose to make an expenditure, based on oral permission, but this does not constitute a binding debt on the GPUS.
9-3.2 In order to avoid confusion regarding reimbursement, simplify reporting and assure proper fiscal practice, committees, employees and representatives of the GPUS shall make every effort to plan ahead and have expenses paid directly to avoid the need for reimbursements.

Section 9-4 Travel Expenses
9-4.1 It is the policy of the GPUS to pay budgeted travel expenses incurred by authorized Party members and employees while conducting official GPUS business.

9-4.2 Travel by Party members and employees must be authorized by the committee on which the person serves, or for employees by their supervisor(s).

9-4.3 Diversity
9-4.3(a) It is not the intention of the GPUS to pay for National Committee delegates or committee members' travel to and from the Annual National Meetings and Presidential Nominating Conventions, except to enhance diversity, specifically to increase the number of participants who are people of color, women, L.G.B.T.I. (lesbian, gay, bisexual, transgender, inter sex), youth, the disabled, and other traditionally disenfranchised groups. These expenses shall be paid only when
pre-approved through application via the Diversity Committee and/or the
Steering Committee.

9-4.3(b) While the primary responsibility for travel assistance for delegates and committee members rests with the member state parties that those individuals represent, the Diversity Committee and/or the Steering Committee may allocate funds from the Annual Budget and/or raise additional funds to provide financial assistance for delegates and committee members who are members of those groups listed in subparagraph (a) of this paragraph.

9-4.4 Consistent with the Fiscal Policy on expenditures, all travel expenditures must be approved by the Treasurer prior to commitment of any funds.

9-4.5 Every effort must be taken to purchase the least expensive travel, whether by air, rail, bus or taxi.

9-4.6 When selecting lodging, the least expensive union facilities shall be given first preference.

9-4.7 Party members who require advances before traveling must request the funds in a timely manner from the Treasurer and must obtain authorization in writing from the committee, caucus or network they are representing.

9-4.8 All authorized travel by Party members and employees will be reimbursed for all reasonable and necessary expenses upon presentation of receipts, paid bills, etc.

9-4.9 Prior to extending an invitation to a guest of the GPUS to participate in a GPUS event, the Steering Committee shall vote to approve such funds as are required, from the Discretionary Travel Fund. Amounts over $500 per trip or more $100 per year must be approved by the National Committee. The proposal for such funds shall include the name of the guest, the official purpose of the travel, the itinerary, and the maximum amount to be disbursed.

ARTICLE X FISCAL MANAGEMENT

10-1 Bank Accounts
10-1.1 All funds -- whether cash or negotiable instruments -- contributed to or made payable to the GPUS shall be placed on deposit in the principal accounts of the Party, except as provided by Section 2 of this Article related to Restricted Funds and the Operating Reserve Fund, or by resolution of the National Committee. The Steering
Committee shall, from time to time, designate by resolution, the principal depository of the Party. The Treasurer shall maintain at a minimum a General Operating Account for check writing and depository purposes and a Reserve Account for placement of Restricted Funds and the Operating Reserve Fund.

10-1.2 The Treasurer shall account for revenues for and expenditures from the General Operations Fund, the General Reserve Fund and from each Restricted Funds.

10-2 Restricted Funds and the Operating Reserve Fund
10-2.1 Starting with the 2010 Fiscal Year, all Annual Budgets presented to the National Committee shall contain a plan for building and maintaining an Operating Reserve Fund. The goal of such a fund shall be to provide a reserve, funded at three times the level necessary to cover all monthly obligations authorized as operating expenses, as defined in Article 9, Section 2 of this Policy.

10-2.2 No later than the 20th of each month after passage of this proposal or when information from the previous month is available, the Treasurer shall transfer to each Restricted Fund the amount of the previous month's donations to that fund. No later than the 20th of each month the Treasurer shall transfer to its Restricted Fund the estimated amount of state sharing for the previous month. Reports from the Accountant and the Treasurer will
document these transfers.

10-3 Loans from the Reserve Account
10-3.1 Loans may be made to the General Operating Account from the Reserve Account, but only to pay for operating expenses as defined in Article 9, Section 2 of this Policy. Such loans must first be made from the Operating Reserve Fund and only when that Fund is depleted may they be made from a Restricted Fund.

10-3.2 Loans from Restricted Funds shall first be drawn from national driven State Sharing. Loans may not be drawn from Committee, Caucus, Network or state-driven State Sharing conduit funds without approval from the Committee, Caucus, Network, or State Green Party.

10-3.3 Loans from the Operating Reserve Fund that cumulatively do not exceed 3% percent of the Annual Budget may be approved by the Steering Committee. Loans that cumulatively exceed that cap may only be executed upon approval by the National Committee.

10-3.4 After passage of this proposal, loans from Restricted Funds that cumulatively do not exceed 1% percent of the Annual Budget may be approved by the Steering Committee. Loans that cumulatively exceed that cap may only be executed upon approval by the National Committee.

10.3.5 Whether authorized by the Steering Committee or the National Committee, all proposals to borrow in any amount must be reported to the National Committee prior to the final execution of any loan agreement and must include the loan’s source, amount, terms, and purposes and a plan and time line for repayment of the loan.

10-4 Credit Card Policy
10-4.1 The Treasurer, in consultation with the Steering Committee and the Finance Committee, is authorized to obtain credit and debit cards under the name of the GPUS, in order to facilitate normal fiscal operations of the Party.

10-4.2 The use of the GPUS credit or debit cards or any other person’s credit card for GPUS expenditures does not constitute a loan under this fiscal policy as long as the bill is paid in full each month. It is the intention of the GPUS to pay all credit cards charges in full when due except for any disputed items that were charged on the card. Any decision not to pay the full amount is subject to the loan provisions of this fiscal policy.

10-4.3 Only the Treasurer is automatically authorized to hold a credit or debit card for which the GPUS is responsible. A credit or debit card may be issued to any other person, including staff and committee members, only upon the recommendation of the Finance Committee and adoption by a simple majority of the Steering Committee of a resolution authorizing issuance of the card for a term not to exceed one year.

10-4.4 Any such additional cards may be issued only when supported by accounting procedures which permit transactions to be tracked by the cardholder authorizing the expenditure.

10-4.5 The Finance Committee shall institute guidelines for credit limits and authorized usage limits for any credit card issued under the name of the GPUS based upon the authorized monthly budgetary needs of each cardholder.

10-4.6 All people issued credit cards herein are required to file a report to the Treasurer and/or Accountant each month by the 10th day of the following month, indicating the purpose of the charge and the budgetary line item authorizing each expense. Repeated failure to provide this information is grounds for cancellation of charging privileges and return of the card at the Treasurer's request.

10-4.7 The GPUS credit card may not be used for non-Party expenses, or any unauthorized expenses, under any circumstance. If any person issued a GPUS credit card uses it for an unauthorized expense, the Treasurer may cancel the charging privileges of that card and request immediate return of the card as well as require immediate repayment of the unauthorized expenses. The Treasurer will immediately notify the Steering Committee of these actions.

10-4.8 The Finance Committee, or any staff and/or volunteers assigned by it, is authorized and required to monitor the use of the Party credit card to ensure that this policy is followed and enforced.

ARTICLE XI BUDGETING
11-1 Fiscal Year
11-1.1 The Fiscal Year of the GPUS shall be the calendar year (January
1 - December 31).

11-2 Interim Budget
11-2.1 Until a budget is approved, funds may be spent only for GPUS
administrative expenses as provided for in Article 9, Section 2 of this
Policy, including but not limited to personnel costs, literature costs,
post office box, communications (postage, phones and website
maintenance) and expenses associated with Annual National Meetings
and/or the Presidential Nominating Convention.

11-2.2 Funds may be spent on dues, or for co-sponsorships with
non-Green Party organizations, only with the advance and specific
approval of the National Committee.

11-2.3 All these expenses must be approved by the Steering Committee
and reported to the National Committee monthly. Expenses other than
those specifically listed herein are not allowed without advance
approval of the National Committee.

11-3 Annual Budget
11-3.1 The Steering Committee shall propose an Annual Budget for the
next fiscal year to the National Committee online by November 15. Two-thirds majority approval by Steering Committee members shall be necessary to recommend such a budget for the consideration of the National Committee.
Adoption of each Annual Budget shall require the support of a simple majority
of the National Committee in a recorded vote, conducted no sooner than two
weeks after the Steering Committee's recommended budget has been
transmitted to the National Committee.

11-3.2 Any such proposal to adopt an Annual Budget shall include the
following documents, certified by the Treasurer:

11-3.2 (a) a fundraising plan;
11-3.2 (b) previous year’s balance sheets and income/expense reports;
11-3.2 (c) monthly cash flow projections;
11-3.2 (d) and such reports and recommendations as required by other
sections of this Fiscal Policy

11-3.3 The Annual Budget shall only be considered approved after it has
been passed by a vote of the National Committee.

11-3.4 The Annual Budget will incorporate anticipated expenses and
projected income from all sources. A Monthly Income and Expenses
Projection report shall accompany the budget. Legal and contractual
obligations as identified in 9.2.1, related to "Prioritization of
Expenditures", shall be identified in the Expenses Projection report.

11-3.5 The Annual Budget shall include projected total income and
expenses for the Annual National Meeting and in presidential election
years for the Quadrennial Presidential Nominating Convention.

11-3.6 A Reserve Fund shall be established with a goal of three months
of operating expenses.

11-3.7 Once approved, the Annual Budget shall limit the purposes and
amounts of the Party's allowable expenditures, and no expenditures may
be made that are not authorized by that budget. Appropriate mid-year
revisions to the Annual Budget may be proposed by the Steering
Committee at any time, but require approval by the National Committee.

11-3.8 The Steering Committee is authorized to approve minor
expenditures not included in the budget for administrative or emergency
matters without prior approval of the National Committee up to a limit
of $1,500 per month. The National Committee must be informed by email
of such expenditure within one week. The Steering Committee is also
authorized to modify expenditures for administrative purposes due to
unforeseen changes in costs or plans, limited to total expenditure of
$1,500 per month.

11-3.9 The Annual Budget shall be a public document.

ARTICLE XII FINANCIAL REPORTING

12-1 National Committee Meeting Report
12-1.1 At each Annual National Meeting of the National Committee next
following the end of the fiscal year (December 31st), or not later than
July 1st in any year where no such meeting is held, the Treasurer shall
present an Annual Report to the National Committee prepared by the
accountant and detailing the prior year's fiscal activities, including parts
of the appropriate FEC report(s) which are viewable in the public domain,
and any details on these fiscal activities relevant to the Treasurer's Report.

12-2 Monthly Reporting
12-2.1 The Treasurer shall, on a monthly basis and not later than the
20th of each month, ensure that a report is sent to the GNC of the
fiscal activities of the Party for the preceding month, including a
comparison between actual activities and projected activities for that
month, based on Generally Accepted Accounting Procedures for accrual
based accounting, acknowledging revenues and obligations as they are
incurred regardless of when money changes hands and including
a balance sheet listing assets and liabilities.

12-2.2 The Treasurer shall also provide monthly financial status reports
that include cash flow, accounts payable, and accounts receivable reports
compliant with Generally Accepted Accounting Procedures for cash-basis
accounting, in which revenue is recognized when funds are received and
expenses are recognized when funds are spent.

12-2.3 The Treasurer is authorized to utilize such staff and contract
support as may be budgeted for the fulfillment of reporting responsibilities.

ARTICLE XIII FINANCE COMMITTEE

13-1 Purpose
13-1.1 There shall exist a standing Finance Committee whose primary
task is to monitor the fiscal activities of the Party.

13-2 Duties
The Finance Committee shall have the duty to:

13-2.1 Ensure that the GPUS complies with fiscal policies;

13-2.2 Consult with Party staff, the Steering Committee, Treasurer and
Accountant on fiscal policy;

13-2.3 Make recommendations to the National Committee for fiscal policy
changes;

13-2.4 Prepare the annual budget by October 15 for the consideration of the Steering Committee and draft occasional budget amendments as appropriate;

13-2.5 Oversee the daily affairs of Party finances such as bank accounts, methods of disbursement, etc.;

13-2.6 Obtain an independent annual audit of Party financial affairs by a certified public accountant when authorized by the Treasurer and the Steering Committee;

13-2.7 Oversee the Endowed Fund and recommend changes in investments to the National Committee through the Steering Committee; and 13-2.8 Bring issues of concern to the Steering Committee or National Committee, including making requests for the temporary suspension of anticipated transactions. The Steering Committee will guide the Treasurer until the concerns are answered or shall implement whatever actions are needed in order to proceed with financial transactions.

13-3 Membership
13-3.1 Membership on the Finance Committee will be, at a minimum, the
Treasurer, the Steering Committee member designated as a signatory to the principal depository for the Party, and any Steering Committee members who choose to join. The Accountant, the Executive Director, and other staff as the Executive Director deems appropriate will be members of the committee with special responsibility to recluse themselves from voting when there is a possible conflict of interest.

13-3.2 Any member of the National Committee or another Green Party
member approved by their member state party, may be appointed to the
Committee upon approval of a resolution making such appointment by the
National Committee.

13-3.3 Prospective committee members for the Finance Committee shall
inform the Steering Committee of their interest, so that the Steering
Committee may call for a timely election for approval of the new
member.

13-3.4 Members may serve until they resign or are removed by their
member state party.

13-3.5 Members may be removed for cause by the National Committee upon
a proposal from the Steering Committee.

13-3.6 Members who are removed by their member state party or by the
National Committee may not be reappointed to the Finance Committee for
a period of one year.

13-3.7 The Finance Committee shall be co-chaired by the Treasurer and
by the Steering Committee member designated as a signatory to the
principal depository of the Party.

ARTICLE XIV AMENDMENTS TO THIS FISCAL POLICY

14-1 Amendments to these policies may be proposed by any Accredited
State or Caucus in accordance with the same rules used to adopt or
amend any other procedure of the GPUS.

Resources

None

References

Rules and Procedures of the Green Party of the United States (gp.org, Committees,
Green Party documents
Proposal 245 – GPUS Fiscal Policy and the Donor Bill of Rights
Proposal 177 – Proposal to Redefine and Expand State Sharing Programs

Jody Grage - jody - at - gp.org

Questions about this system?
Contact the Voting Admin.
The Green Party of the United States voting system is free software, licensed under the GNU General Public License (GPL).
You can download a copy here.
To independently verify a ranked choice vote, or for information about how that works, go to Jonathan Lundell's Voting Page and upload the ballot file from the ranked choice vote result page. JL's ranked choice module is licensed under an alternate free software license.

Green Party of the United States