Adelante Progressive Caucus
of the Democratic Party of New Mexico

Adelante Progressive Caucus
Financial Protocols

Authorization of Expenditures

Only the following expenditures are authorized:

  1. Expenditures pre-authorized in a budget passed by majority vote of the Executive Committee if the Caucus has sufficient funds;
  2. Expenditures of $50 or less if authorized by both the Treasurer and either the Chair or the Vice-Chair and if it does not cause the Caucus account(s) to go below the operating reserve; and
  3. Expenditures over $50 if authorized by majority vote of the Executive Committee.

Approved on August 28, 2018

 

Finance Accounting to Executive Committee

The Treasurer shall provide to the Executive Committee: 1) all monthly bank statements as they are issued, and 2) all financial reports required by and submitted to Secretary of State.

Approved on August 28, 2018

 

Operating Reserve

The Treasurer shall maintain $50 in an operating reserve and shall not make expenditures which would cause the Caucus to have less than $50 unless excepted by the Executive Committee by majority vote. If anticipated expenses would cause the Caucus to have less than $50 in an operating reserve, then the Treasurer shall so inform the Executive Committee at least two (2) weeks prior to the anticipated expense needing to be paid.

Approved on August 28, 2018

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