A. General
No later than March 1st of each year, the Budget and Finance Committee shall prepare an annual budget and present it to a meeting of the MCRCC. Upon adoption of the budget, the Chair may approve expenditures authorized therein for expenditures to support regular MCRCC operations. Expenditures in excess of $500.00 must be brought to the Executive Committee.
The Executive Committee may amend any budget previously adopted by the MCRCC but Executive Committee amendments resulting in an increase in the total budget shall become effective only when approved by the MCRCC at either a regular or special MCRCC meeting
B. Expenditures
The Executive Committee must approve any expenditure above $500 that is not specifically and expressly included in the budget as a line item. Other expenditures under $500 may be made in the course of regular MCRCC operations. The Executive Committee at its regular meetings will review expenditures.
The Treasurer shall submit a statement in writing of income and expenditures to the MCRCC at each regular MCRCC meeting.
C. Income
All monies received by the Executive Committee shall be given to the Treasurer for deposit to the account of the MCRCC within 7 business days of receipt.
The Treasurer shall have sole authority to deposit funds to the account of the MCRCC. Funds deposited through the Direct Debit (ACH) Enrollment and on-line deposits shall be exempt from this requirement.