ARTICLE XIII – FINANCES
Section 1. Regular dues (see Article XII) shall be fixed by a majority vote of members present at any regular meeting providing notice of the contemplated dues change has been announced at least one month in advance.
Section 2. The local may obtain additional finances through grants, donations, contributions or other funding activities.
Section 3. The fiscal year shall be July 1 through June 30.
Section 4. No later than October 31st, an annual audit of the finance records shall be performed by the Local. The Executive Council shall appoint a committee of no fewer than three members in good standing for the Audit Committee. The Treasurer may not serve as a member of the Audit Committee. The treasurer shall make finance records available and be available to answer questions the Audit Committee may have regarding the finances of the Local.
Section 5. Within two weeks after receipt of all necessary documents from the national and state federations, the Audit Committee will conduct an annual Agency Fee Audit, and will forward the agency fee rate calculated therein to the President of the local. The Secretary of the local will draft a letter to be signed by each member of the Audit Committee, to be forwarded to the employer.
Section 6. The Treasurer of the local shall prepare all necessary Federal, State, and Local tax documents and ensure that those documents are submitted in a timely manner.