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ALA Finances 101 (AKA BARC Financial Planning Seminar)
Financial Principles
2006 Midwinter Meeting
San Antonio, TX
Friday, January 20
Marriott Rivercenter, Salon A
1:30–4:30 p.m.
General Concepts
- One bank account
- One set of financial records
- One audit
- One set of policies
- Net Assets—if a division or unit decides to disband the ALA, all net assets remain with the ALA.
Review of Policies (Management of ALA Funds)
- Purchasing/Conflict of Interest (8.1.1)
- Authorization to Overspend Budgeted Funds (8.1.4)
- Limitations on ALA Funding of Divisions (i.1.6)
- Unrestricted Bequests (8.1.7)
- Council Receipt of ALA Budgets (8.4)
- Endowment Funds (8.5)
- Investment Funds (8.5.1)
- Use of Fund
- Program Support
- Emergencies
- New Initiatives
- Scholarships and Awards
- Transfer existing funds to create new program
- Withdrawal/Repayment
- Endowment Funds: Combining (8.5.2)
- Deferred Revenues
- Attachment—Legal Framework
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