Hollywood United Neighborhood Council  Budget and Finance Procedures
Approved: October 19th 2007

Article I: Purpose and Intent
The purpose and intent of the Hollywood United Neighborhood Council Budget and Finance Procedures (hereinafter “Procedures”) is to provide set rules for:
  1. the Hollywood United Neighborhood Council (hereinafter “HUNC”) process for establishing a budget to be submitted to the Department of Neighborhood Empowerment (hereinafter “DONE”),
  2. the procedures required for HUNC to spend the funds allocated to it by the City of Los Angeles, and
  3. the rights and responsibilities of the HUNC Budget and Finance Committee.
Article II.  Expense Procedures of Funds Allocated to HUNC by the City
  1. Unless provided for elsewhere in these Procedures, all HUNC expenditures must be approved by a majority vote of Board members present and voting at a Board meeting.
  2. All approved grants of spending authority will be listed in Attachment A of these Procedures (“Discretionary Expenditures”).
  3. Board members making Board-approved discretionary expenditures must coordinate their expenditures with the Treasurer to ensure that all expenditures comply with City regulations.
Article III. Rights and Responsibilities of the HUNC Budget and Finance Committee
  1. The purpose of the HUNC Budget and Finance Committee is to:
    1. oversee the budget process of HUNC, as defined by DONE.
    2. assist the Treasurer in preparing monthly budget and finance reports for presentation at Board meetings
    3. assist Community Stakeholders, Board members, and Committees in making expenditure requests
    4. periodically review and recommend revisions to the HUNC Budget and Finance Procedures,
    5. maintain and periodically audit HUNC inventory
    6. liaison with the City on Budgetary issues
    7. allow Community Stakeholders to make presentations regarding what they think should be included in HUNC’s annual fiscal year budget
  2. The Budget and Finance Committee shall keep the following records, which are to be made available to the public upon their request, in a reasonable time, for the current fiscal year:
    1. receipts of all HUNC purchases
    2. actualized budgets as presented to the Board during the Monthly Budget Reports
    3. monthly bank statements of any bank in which HUNC has an account
    4. demand warrants submitted to DONE
    5. invoices from vendors submitted to HUNC or to DONE for HUNC-approved expenditures
    6. commercial prepaid card reconciliation forms
    7. petty cash reconciliation forms
    8. audits reports for audits conducted by the City, one of its departments, or on behalf of the City
Article VI. HUNC Budget and Finance Procedures Review and Amendment
  1. These procedures may be amended by a majority of vote of all Board members present and voting at a Board meeting.
  2. A Board member or the Budget and Finance Committee may place an amendment to these procedures on a Board meeting agenda by submitting the amendment in writing to person responsible for preparing the agenda for that Board meeting.
Article VII. Applicability of Other Laws and Regulations
  1. All city, state, and federal laws and regulations and the HUNC Bylaws shall supercede these procedures.  If any part of the procedures comes into conflict with a superceding law, regulation, or bylaw, that part of procedures shall be interpreted to be consistent with the superceding law, regulation, or bylaw or, if that is not possible, shall be stricken. 
     
Attachment A: Discretionary Expenditures            
  1. Committee chairs may spend at their discretion up to $100 for Committee Meeting Outreach per committee meeting.  (approved by the Board at Board Workshop/Meeting on 10/27/07).
  1. The Treasurer may spend at his or her discretion up to $200 for Board Meeting Outreach per Board Meeting.  (approved by the Board at Board Workshop/Meeting on 10/27/07).
    • The Treasurer may spend at his or her discretion up to $200 for office supplies per month.  (approved by the Board at Board Workshop/Meeting on 10/27/07)
    • The Treasurer may spend at his or her discretion up to $500 for Town Hall Meeting Outreach (approved by the Board at Board Workshop/Meeting on 10/27/07).
    • The Executive Committee by a majority vote may spend at its discretion up to $1000 for Office Equipment per month.