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FiComm Purchasing Powers

FiComm Purchasing Powers

In order to facilitate BOD not needing to discuss regular purchases such as staples, paper, etc., FiComm is delegated authority by the board to approve purchases under $500 without prior notification to the board. Purchases must be reported to the board at the next regularly scheduled meeting.

This mechanism ought to be used conservatively: it is assumed that the board elects to FiComm heads with high fiscal discipline, and high reluctance to make excessive purchases. Purchases which are rejected by FiComm can be motioned to be discussed again at the Board meetings. When FiComm is unsure about whether a purchase should be made, the General Managers ought to be consulted.

Modify Bylaw 19.4:

Transactions of at least $100 require approval from the Board of Directors.

to:

Transactions of at least $500 require approval from the Board of Directors.

Plus additional modifications to Bylaw 19.

\ Current Bylaw 19:

Board Budget

  1. The Board of Directors may approve a semesterly budget that authorizes committees to spend funds according to the committee's purpose as defined by bylaw.
  2. A committee may spend funds only upon approval by a committee head and a Director who is not a head of said committee.
  3. A committee head's approval is void if there is a Director who makes their dissent known in a forum available to all directors within forty eight (48) hours of the approval, and that Director has not given their approval.
  4. Transactions of at least $100 require approval from the Board of Directors.
  5. The Finance Committee may upon approval by the Board of Directors add additional restrictions to the use of committee budgets.
  6. \