Baronial Financial Policy

 

 

The Barony of Bright Hills (the Barony) is a branch of the Kingdom of Atlantia (the Kingdom), which is a branch of the Society for Creative Anachronism, Inc. (the Society). In case of a discrepancy between The Barony of Bright Hills Financial Policy (the Barony Policy) and The Atlantian Kingdom Financial Policy (the Kingdom Policy) kept by the Kingdom Clerk of Law, and reproduced copies or electronic versions, The One True Atlantian Kingdom Financial Policy held by The Clerk of Law has precedence. Reproductions of The Atlantian Kingdom Financial Policy may be acquired by contacting the Atlantian Kingdom Chronicler.

Table of Contents

1. Purpose and Maintenance of Policy

1.1. Purpose of this Document

1.2. Barony Financial Committee

1.3. Financial Policy

2. Accounts and Administration

2.1. Bank Accounts

2.2. Internal Accounting Structure (Ledger Accounts)

2.3. Reports

2.4. Meetings of the Barony Financial Committee

3. Income

3.1. Definition

3.2. Designation of Funds

3.3. Waiving Event Fees

3.4. Event Profits

3.5. Finances for Events

3.6. Cash Controls

4. Disbursements

4.1. Definition

4.2. Controls

4.3. Budgets and Approved Disbursements

4.4. Officer Travel Policy
1. Purpose and Maintenance of Policy

1.1. Purpose of this Document

1.1.1. The Financial Policy for the Barony of Bright Hills (the Barony) is established in order to provide adequate control of the financial transactions of the Barony. These policies will ensure our compliance with regulations pertaining to our tax-exempt status and maintain the continuity of our administrative functions in support of our event-related activities.

1.2. Bright Hills Financial Committee of the Exchequer (the Committee)

This Committee shall consist of the voting members of the Board of the Barony of Bright Hills (the Board). Each baronial officer holding a Great Office or a subsidiary officer has one vote on matters of business. Their number shall include the Baron and Baroness, each a voting member.

Voting officers are the following: Baron, Baroness, Seneschal, Chatelaine, Exchequer, Chronicler, Web Minister, Herald, Minister of Arts and Sciences, Knights Marshal, Minister of the Lists, Youth Officer (or in their absence their deputy). Subsidiary officers may be added, including their right to vote, as positions develop (Example: Chiurgeon, if the position is filled). In addition, Seneschals for any and all canton and colleges under the protection of the barony are considered voting officers.

Officers allowed by kingdom law to hold more than one office maintain only one vote.

In the event of a tie, the Seneschal shall be considered to have two votes for the purpose of breaking the tie only.

1.3. Financial Policy

1.3.1. The Financial Policy will be maintained by the Committee, and will be reviewed annually by the Committee for compliance with Society requirements and appropriateness for the Barony.
1.3.2. Proposed changes to the Financial Policy will require a simple majority of the Committee. Upon approval, changes will be forwarded for review to the Kingdom Exchequer and approved by the Board of Directors of the Kingdom.
1.3.3. Changes will become effective immediately.
1.3.5. Precedence of Law

This policy is superceded in this order: Kingdom Law (including Kingdom Financial Policy), By-Laws of the SCA, Inc., the Corporate Policies of the SCA, Inc. (including Society Financial Policy), Corpora, Federal, and State Law.

2. Accounts and Administration
2.1. Bank Accounts
2.1.1. Barony Accounts
2.1.1.1. Sitting Barons and Baronesses may not be signatories on an account.
2.1.1.2. If a group or guild of the Barony dissolves for whatever reason, any monies held in the group account shall be returned to the Barony General Fund. At the request of the majority of the officers of the disbanding group, another fund may be selected.
2.2. Barony Internal Accounting Structure (Ledger Accounts)

2.2.1. General Funds
2.2.1.1. General Funds are defined as monies collected by the Barony to support the administrative and event related functions of the Barony. Unless otherwise specified all money collected will be considered to be General Funds.

2.2.2. Permanent Funds
2.2.2.1. In addition to General Funds the following Permanent Funds will be established:
2.2.2.1.1. Canton Account – the Barony will hold funds belonging to the Incipient Canton of GreenLion Bay until the group becomes an official branch of the SCA and is authorized to open a bank account.
2.2.2.2. Other permanent funds may be established by a vote of the majority of the Committee.

2.2.3. Temporary Funds
2.2.3.1. Temporary Funds may be established for use as short term obligations occur. These funds will not exceed one calendar year or the designated period of use, whichever is longer. Funding for temporary funds will be determined by the purpose of the fund.

2.3. Reports
2.3.1. It is the duty of the Barony Exchequer to keep the Committee informed of the status of all local accounts.
2.3.2. It is the duty of the Barony Exchequer to keep the Kingdom Exchequer informed of the status of all local accounts.
2.3.3. The Barony follows the timelines set by the Society Financial Policy.
2.3.3.1. Quarterly reports are due as specified in Kingdom policy:
2.3.3.1.6. Reports shall be sent to the Kingdom Exchequer as designated. Electronic reports may be accepted for deadline purposes but it is required that the original reports be forwarded by mail within five (5) business days. The original reports must be signed by the Seneschal and Exchequer and have the entire quarters bank statements attached with each report. Reports will be considered late if they are not received within five (5) business days of the due date or if they are incomplete.
2.3.3.2. The Yearly Doomsday report (the compilation of all 4 quarters) is due ON January 31.
2.3.3.2.1. A copy of the bank statements for January (start of the year being reported) and December (end of the year being reported) must be sent with the Doomsday.
2.3.4. Non Member Surcharge (NMS) reports and monies are due to the office of the Chancellor of the Exchequer Deputy for the NMS no later than 14 calendar days after the event.
2.3.6. Event reports shall be submitted for every event held. The event autocrat is responsible for submitting appropriate receipts and working with the Exchequer to complete the report. These shall be completed with copies of the event receipts attached and sent with the corresponding Quarterly Reports. Kingdom Level event reporting requirements are listed in Section 3.5 of Kingdom Financial Policy.

2.4. Meetings of the Committee
2.4.1. Meetings of the Committee may be held in person, by telephone or by electronic means (e.g., by exchange of email), but will typically be held in conjunction with the monthly Baronial Meeting. If such meetings are held in person or by telephone, it is the responsibility of the Barony Exchequer to create and preserve a written record of all decisions of the committee. If the meeting is held by email, then the Barony Exchequer retain copies of all relevant emails as the permanent record of the meeting.
2.4.2. Decisions by the Committee will be made by a simple majority (51%) of those in attendance, provided a minimum of 5 voting officers (or their written proxy) as defined in Section 1.2 are present (a Quorum). If a quorum of Committee members is not present, the decision will be deferred until the next meeting. Written proxy may be in the form of an e-mail or text message
2.4.3. Meetings will be conducted within one month of a funding request. In the case of an emergency funding need, at least three members of the Committee (including the Seneschal and the Exchequer) must be contacted and in agreement.

3. Income
3.1. Definition
Income shall include all monies that come to the Barony through event proceeds, fundraising efforts, or direct contribution.

3.2. Designation of Funds
3.2.1. Funds donated to the Barony by groups or individuals may be designated for a specific use or as general funds. Any donation, which does not specify a particular account or if the purpose for the fund no longer exists, will be placed into the General Fund.

3.3. Waiving Event Fees
3.3.1. Branches in Atlantia may choose to waive event fees (agree to absorb the cost themselves) for the following event attendees: the King, Queen, Prince, Princess, and Landed Baronage of Bright Hills. To waive the fees of additional attendees, the local branch must include a list of those approved for waived fees in the branch’s financial policy and/or have the waiver of fees approved by the branch’s financial committee with justification/documentation/approval for the additional names added to the Event Report.

3.4. Event Profits
3.4.1. Event profits are those monies remaining from event receipts after all expenses have been paid. Cost of the site, food, prizes, supplies for decoration, advertising, or administrative purposes are acceptable expenses to be charged to an event. Acquisition of items, which will be retained by the hosting group (such as serving gear or cooking gear), are not considered expenses of the even
3.4.2. For rules concerning Kingdom Events, please see Section 3.4 of the Kingdom Financial Policy.

3.5. Cash Controls
3.5.1. All cash received at an event shall be counted and recorded by two people (not of the same family or residing together) before the cash is removed from the site. Copies of the cash record will be provided to the Branch Seneschal and the Exchequer.

4. Disbursements

4.1. Definition
Disbursements are any monies released from a Barony account for the purposes of funding events, activities, or administration of the Barony.
4.2. Controls
4.2.1. All disbursements will be made by bank draft (check) in accordance with Society Branch Financial Policy.
4.2.2. Advance payments can only be made with the prior approval of the Committee in accordance with this Financial Policy.
4.2.3. Disbursements which are reimbursements for approved expenditures will require the request for reimbursement, which includes the legal and society name of the individual requesting reimbursement, explanation of expenditures and documentation of their approval, and all receipts.
4.2.4. Under no circumstances will reimbursement be made without a receipt of expenditure. All receipts must be presented to the Barony Exchequer for reimbursement within 30 days of the date on which they were incurred.
4.2.5. Disbursements for items not specified in this document or otherwise budgeted for may be requested by individuals. Such requests should be made to the Committee in advance of purchase.
4.2.6. An accounting of expenditures shall be made at the next Board Meeting
4.3. Budgets and Disbursements
4.3.1. Budget. Based on the recent history of expenditures, expected activity, and the current financial health of the Barony, the Barony does not have regular annual expenses to justify a budget. Only the Baronial Steward is authorized to make purchases without specific prior authorization. The Steward’s Office can spend up to $40/month ($480/year) to maintain the baronial property. Reimbursement will be made upon submission of appropriate receipts.
4.3.2. General Fund Disbursements
4.3.2.1. The Exchequer is authorized to make disbursements from General Funds based upon the Budget as approved by the Committee.
4.3.2.2. Disbursements will be made for expenses of office as approved and with the submission of appropriate receipts.
4.3.2.3. All postage costs associated with the execution of an office will be reimbursed and will not be considered as part of the Officers budgeted allocation.
4.3.2.4. Telephone expenses of Officers and Baronage will not be reimbursed under any circumstances.
4.3.2.5. Postage costs incurred by the Baronage shall be reimbursed upon receipt to the Barony Exchequer.
4.3.2.6. Should the Exchequer deem any requested amounts unreasonable, he/she shall consult the Committee.

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