(C) The Treasurer shall cause to be kept complete books of
account and shall issue an itemized statement and report
at the Annual Meeting and such interim reports as may be
ordered by the Board of Directors. The Treasurer will also
provide the Finance Committee members and Board of
Directors with a monthly financial report which includes a
balance sheet and profit/loss statement. (Amended 02-06,
effective 01-07)
(E)
Check and Balance Procedure for Accounts Payable/
Accounts Receivable: All Accounts Payable and Accounts
Receivable will be reviewed by the generating Department
Head. The Department Head will review for accuracy,
initial the document, notate the AP/AR in the Department
Records, and forward the AP/AR to the Finance Controller
for appropriate action. Accounts Receivable will be processed
on the day of receipt with notification to the sending
Department when receivables are cleared for deposit.
This will assist the effected Department in proper record
management, allow that Department to continue service
with the client of record, and close the Departments balance
sheet on that item. Accounts Payable will be received and
reviewed by the generating Department Head, reviewed for
accuracy, logged in the Departments Records, initialed, and
forwarded to the Accounting Department for disposition.
All Accounts Payable checks will require two signatures,
one required signature will be the Accounting Manager,
second signature designees will be another Staff Director
or Supervisor. The Accounts Payable will be documented
following AMHA’s standard procedure. The generating
Department will be notified when complete to insure proper
Department Record Management. Exception to the above
stated Accounts Payable procedure: when a single Accounts
Payable exceeds one thousand dollars, ($1,000), the signature
requirement will be the AMHA Accounting Manager, AND
another Staff Director. (The only exception to this will be
payroll.) Vendors and Outside Contractor invoices will
require these two signatures when the total of the invoices
reach or exceed the one thousand dollar ($1,000) limit
for the billing month. Any expenditure or combination of
expenditures exceeding $1000 must require post approval by
the Treasurer, or President. (Amended 02-06, effective 0107)
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(D) The Treasurer shall cause to be submitted to the Board of
Directors, at the first regular meeting of the Board after
the Annual Meeting of the Board, a detailed budget of the
proposed and anticipated expenditures for the current
calendar year of the Association for their approval. Upon
approval of the budget, or its modification, it shall become
binding upon the Officers of the Asso ciation and shall not be
exceeded in each item set forth by more than ten (10) percent
without prior approval by a majority vote of the Board of
Directors.