All funds of the LWVUS and the LWVEF shall be deposited to the credit of the LWVUS or the LWVEF in banks and financial institutions designated by the Executive Director and the chief financial officer, in consultation with the President/Chair and the Secretary-Treasurer. An investment manager shall be designated by the LWVUS/LWVEF Board of Directors/Trustees.
The President/Chair, the Secretary-Treasurer and the Executive Director are the authorized signatories on the accounts of the LWVUS/LWVEF. The board may authorize additional signatories. Checks of $5,000 or more shall require two signatories.
All board and staff members shall be bonded.
A professional audit of the financial records and procedures of the LWVUS and the LWVEF shall be conducted annually by an independent CPA firm.
The chief financial officer shall provide the LWVUS/LWVEF boards with a monthly finance report for the LWVUS and the LWVEF, including a balance sheet and income statement comparing actual income and expenses with budgeted income and expenses.