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Article 14. Fiscal Policies

14. Fiscal Policies

14.1. Budget. The Board of Governors shall have the authority to review and approve the CBA budget and all supplementary expense requests that are not within the budget.

14.2. Contingency Fund . Requests for expenditures from the contingency fund shall be directed to the President for consideration and approval by the Board of Governors.

14.3. Capital Improvements Fund. A capital improvements fund shall be established to replace and acquire all depreciable items. The Budget and Planning Committee shall recommend to the Board of Governors the amount of cash to be transferred into the fund, and transfers shall be made as determined by the Board of Governors.

14.4. Investments. The Budget and Planning Committee may, from time to time, recommend to the Board of Governors changes in the investment policies of the CBA. The investment policies shall be as determined by the Board of Governors.