Finance changes

bylaws/bylaws.tex

@@ -5,7 +5,7 @@
 
 \title{\vspace*{\fill}Purdue Amateur Radio Club By-laws}
 \author{Prepared By: The Officers of Purdue Amateur Radio Club}
-\date{March 7, 2025\vspace*{\fill}\vspace*{\fill}}
+\date{May 2, 2026\vspace*{\fill}\vspace*{\fill}}
 
 \begin{document}
 
@@ -85,80 +85,105 @@ \section{Committees and Leadership Positions}
 appointments. Appointment does not grant officer privileges and all appointed
 positions report to the officers.
 
-\section{Budget}
+\section{Finances}
 
-The budgetary year for the club shall be the annual officer term, with the
-exception of the first budgetary year after these by-laws are adopted, which
-shall begin on January 1, 2025 and last until the end of the annual officer
-term. The club budget comprises a number of separate funds. The officer
-discretionary fund shall be three-quarters of the dues received during the
-current budgetary year minus any money spent from the fund. The general fund
+The club's finances shall comprise a number of distinct budgets. The officer
+discretionary budget shall be three-quarters of the dues received during the
+current budgetary year minus any money spent from the budget. The general budget
 shall be four-fifths of any money not from dues or grants received during the
-current budgetary year minus any money spent from the fund. The reserve fund
+current budgetary year minus any money spent from the budget. The reserve budget
 shall be all other available club funds not received from grants. Grant money
-applied for and received shall be managed in its own fund for each grant; each
-grant fund will be the money from the relevant grant minus money spent from it.
+applied for and received shall be managed in a distinct fund for each grant;
+each grant fund will be the money from the relevant grant minus money spent from
+it.
+
+Income and expenses for the officer discretionary and general budgets shall be
+tracked on separate annual periods. The income term will coincide with the
+annual officer term whereas expenses will be accounted for based on the annual
+membership term. This means that during the summer, money received will count
+towards the coming school year while money spent will be restricted by the
+budgets of the prior year.
 
 Money is considered received when it is turned over to the club, not when it is
 pledged to the club. Money shall be considered spent and unavailable for future
-expenditures as soon as its spending is approved unless the approval is
-retracted by vote and the money has not been spent. Money that will be used for
-upcoming reimbursements cannot be re-spent.
+expenditures as soon as its spending is approved. Approval for unspent money can
+be retracted by vote, and if this is done the unspent money will be re-added to
+the relevant budget.
 
 Any account or transaction fees charged without specific authorization will be
-automatically deducted from the officer discretionary fund. If this fund is not
-sufficient to cover the charge, the remainder will be deducted from the general
-fund, and if this is not sufficient the remainder will be from the reserve fund.
+automatically deducted from the officer discretionary budget. If this budget is
+not sufficient to cover the charge, the remainder will be deducted from the
+general budget, and if this is not sufficient the remainder will be from the
+reserve budget.
 
 All club spending shall be done in compliance with all Purdue University rules
 for student organizations as well as any restrictions placed on the money by the
 donor for grants and donations.
 
 \subsection{Spending Proposals}
 
-To be considered, the effect of spending proposals on club funds must be
-documented. This can be done by including a section in the proposal from the
-treasurer detailing the effect of the proposal, as long as it is current at the
-time of voting on the proposal. Alternatively, if the treasurer is in attendance
-when the proposal is introduced and voted on, the treasurer can report the
-effect on the balance of club funds at such times. The treasurer shall prepare
-this section or make this report for any spending proposal submitted to them or
-considered during a meeting they are present at. Proposals cannot be considered
-if they spend money not currently available in the funds they propose spending
-from.
-
-Spending proposals may change which fund a past expense from the same budgetary
-year is spent from, as long as it is valid for the proposal to spend money from
-that fund.
-
-\subsection{Officer Discretionary Fund}
-
-Money from the officer discretionary fund can be spent for the benefit of the
+Spending proposals may only be introduced at times when the effect of the
+spending on the club's budgets and balance can be demonstrated. This can be at a
+meeting attended by the treasurer or a specifically authorized delegate thereof
+or, alternatively, with a written report on these effects from the treasurer
+that is current at the time of voting on the proposal. The treasurer or---in the
+case of a written report---the member proposing the spending must deliver this
+report on request from the membership. If all of the treasurer's delegates in
+attendance are unwilling to deliver such a report on a proposal, the proposal
+will be considered invalid.
+
+Spending proposals may change which budget a past expense from the same
+budgetary year is spent from, as long as it is valid for the proposal to spend
+money from that budget.
+
+\subsection{Reimbursement}
+
+The president and treasurer are responsible for reimbursing members in a timely
+manner as is outlined by the Business Office for Student Organizations. Before a
+reimbursement may be filed, each item must be presented to the membership at a
+regular meeting where a motion to reject the reimbursement may be made. A motion
+to reject a spending proposal requires a two-thirds majority and cannot be
+postponed indefinitely. The treasurer may not make the reimbursement while a
+motion to reject the reimbursement is under consideration. If the reimbursement
+is rejected, the reimbursee is free to make another spending proposal for the
+same items or, in serious cases, take the matter up with the Business Office for
+Student Organizations.
+
+\subsection{Direct Spending}
+
+Spending directly from club accounts must either be for an item specifically 
+outlined in the spending proposal or the item must be freely returnable for 
+a full refund for a period of at least 14 days after arrival.
+
+\subsection{Officer Discretionary Budget}
+
+Money from the officer discretionary budget can be spent for the benefit of the
 club by consensus of the officers as they see fit, without approval from the
 club membership.
 
-\subsection{General Fund}
+\subsection{General Budget}
 
-Money from the general fund can be spent by vote during a meeting or by approval
-of more than half of the entire body of voting members. Proposals to spend money
-from the general fund can be introduced by any member during a meeting. Outside
-of meetings, by consensus of the officers, a proposal can be introduced to
-voting members to seek approval by more than half of them.
+Money from the general budget can be spent by vote during a meeting or by
+approval of more than half of the entire body of voting members. Proposals to
+spend money from the general budget can be introduced by any member during a
+meeting. Outside of meetings, by consensus of the officers, a proposal can be
+introduced to voting members to seek approval by more than half of them.
 
-\subsection{Reserve Fund}
+\subsection{Reserve Budget}
 
-Money from the reserve fund can only be spent as approved by two-thirds vote.
-Proposals to spend money from the reserve fund can only be introduced by at
-least half of officers during a meeting. Other members do not have standing to
-propose spending from the reserve fund, and should instead submit their proposal
-to the officers.
+Money from the reserve budget can only be spent as approved by two-thirds vote.
+Proposals to spend money from the reserve budget can only be introduced by at
+least half of all officers during a meeting. Other members do not have standing
+to propose spending from the reserve budget, and should instead submit their
+proposal to the officers.
 
-\subsection{Grant Funds}
+\subsection{Grant Budgets}
 
-Each grant applied for and received has its own fund. Spending from these funds
-shall be approved in the same manner as the general fund. If a grant proposal
-prepared by the officers will designate received money for a specific purpose,
-it is tantamount to spending the money for that purpose, so such grant proposals
-must be approved in the same way as grant fund spending before being submitted.
+Each grant applied for and received has its own budget. Spending from these
+budgets shall be approved in the same manner as the general budget. If a grant
+proposal prepared by the officers will designate received money for a specific
+purpose, it is tantamount to spending the money for that purpose, so such grant
+proposals must be approved in the same way as grant fund spending before being
+submitted.
 
 \end{document}