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NCDA Proposed Bylaws Revision
Recommendation for a change in the fiscal year
NCDA Proposed Bylaws Revision
Announced April 23, 2009
NCDA Bylaws Article III, Section 3. Fiscal Year
The fiscal year of NCDA shall be August 1 through July 31.
NCDA Board Recommendation for Bylaws Revision:
The fiscal year of NCDA shall be October 1 - September 30.
Rationale:
The current NCDA fiscal year is August 1 - July 31. Due to the scheduling of the NCDA Annual Conference late in the fiscal year, it creates a challenge in estimating and if applicable, cutting back on expenses to meet NCDA annual budget. The conference creates many purchase orders that need to be collected and accounts payable that need to be paid. Closing the books in the short weeks following conference has been a challenge.
The change of fiscal year will also allow the Budget and Finance Subcommittee time to review the conference income/expenses to better prepare for the following fiscal year.
Operational Implementation:
If this recommendation is approved at the NCDA Annual Meeting, and is also approved by the NCDA Membership during the next election this coming January, the 2009-2010 fiscal year will be considered a "long year" of 14 months. The board will stay intact until October 1 and the annual budget will be drafted for 14 months. The official change will take place October 1, 2010.
