Habitat for Humanity

Article VII: Fiscal Policies

Section 1 - Receipt of Funds and Revenues
All funds received as gifts (whether designated or non-designated),contributions, or grants from individuals, private or public corporations orfoundations shall be deposited in appropriate banking accounts maintained by the chapter and dispersed in accordance with the policies and proceduresdetermined by the board in accordance with these Bylaws, the Covenant, the Articles of Association, the rules and regulations of the college and all applicable governmental laws, rules and regulations, including Section501©)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). Misappropriation of funds shall be prosecuted to the fullest extend that thelaw allows.

Section 2 - Fiscal Year
The fiscal year of the chapter shall begin on May 1 of each year and end on the following April 30.

Section 3 - Checks, Drafts, Etc.
All checks, drafts, and other orders for the payment of money notes or otherevidences of indebtedness issued in the name of the chapter shall be signed by officers or designated agents of the chapter in accordance with the policies and procedures as shall, from time to time, be determined by resolution of the board. To ensure the signatures of two (2) duly elected and qualified members of the board are required for all checks, drafts and other orders for the payment of money notes or other evidences of indebtedness issued in the name of the chapter, the board has determined the following protocol. The Treasurer’s and the President’s signatures are both required. In the absence of the President, the Treasurer’s and the Vice-President’s signatures are both required. In the absence of both the President and Vice-President. The Treasurer’s, the Secretary’s and the Faculty Advisor’s signatures shall be required.