Unrestricted Fund Policy
Approved October 4, 2012
The unrestricted fund policy shall ensure CAUL-CBUA has funds available for future expenditures and the flexibility to fund ad hoc projects while at the same time maintaining an appropriate balance for the fund.
The fund shall be maintained at a maximum level not to exceed 30% of the annual contributions made by CAUL-CBUA members.
- In the event that the unrestricted fund balance exceeds the maximum level, the Board of Directors shall review options and develop a plan to reduce the balance back to the appropriate level.
- Unrestricted funds can be used for one-time expenditures such as the following:
- To address one-time budget allocations as part of the annual budget process;
- To address an annual operating budget deficit; and/or
- To address other one-time expenditures that are deemed necessary.
- CAUL-CBUA Board approval is required for any expenditure of unrestricted funds beyond a level of $10,000.