White Caps WAVES National Newsletter

WAVES NATIONAL BYLAWS 2002 PROPOSED AMENDMENTS
BEGINNING ON THIS PAGE ARE THE PROPOSED AMENDMENTS TO WN BYLAWS 2002. THESE CHANGES WILL BE VOTED ON BY WN MEMBERS AT THE CONVENTION IN PHILADELPHIA.
PRESENT WORDING OF BYLAWS 2002	PROPOSED AMENDMENT
#1. ARTICLE IV - DUES AND FINANCE Section 1. Dues. A. Annual dues shall be $10.00 for Regular Members. Pro rata dues of $5.00 shall be paid by new members joining after August 1.	Amend Article IV, 1.A. by striking $10.00 and inserting $15.00, and striking $5.00 and inserting $7.50. Paragraph A. would then read: A. Annual dues shall be $15.00 for Regular Members. Pro rata dues of $7.50 shall be paid by new members joining after August 1. Submitted by Jan Roy. Reason: WN dues have remained constant since 1992 while expenses have increased. Dues increase was approved by 2002 convention.

#2. ARTICLE IV - DUES AND FINANCE Section 4 - Audit. The financial records of WAVES National shall be audited biennially within thirty days at the end of the fiscal year by an outside CPA firm selected and approved by the Executive Committee. An audit shall also be made whenever the Treasurer’s office is vacated or at the request of the Executive Committee. The Treasurer shall prepare financial reports of all transactions for the CPA firm. Audit reports shall be submitted to the Executive Committee and to the Board of Directors by the auditing firm.	Amend Article IV by substituting new Section 4, including new title. New Section 4 would read: Section 4 - Financial Reports. The financial records of WAVES National shall be compiled biennially within thirty days of the end of the fiscal year by an outside auditing firm selected and approved by the Executive Committee. An audit shall be made by an outside CPA firm selected by the Executive Committee whenever the Treasurer’s office is vacated or at the request of the Executive Committee. Compiled or audit reports shall be submitted to the Executive Committee and the Board of Directors by the designated firms. Submitted by Irene Weeks, Past WN Treasurer. Reason: The cost of certified audits is too expensive and unnecessary for such a small corporation. Audits cost from $3500 to $5000. A compilation costs approximately $1000. The accounting firm compiles all the funds financial records, completes IRS 990 and submits reports to the Executive Committee and Board of Directors.