Difference between revisions of "Internal:Audit Committee resolution"
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m (Kirill Lokshin moved page Internal:Advisory committee policy amendment 2 to Internal:Audit Committee resolution) |
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| − | {{header title|title= |
+ | {{header title|title=Audit Committee resolution|status=review}} |
| + | == Resolution == |
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| − | 1. '''Introduction'''. The [[Advisory Committee Policy]] does not specify the role of the Audit Committee. The Policy assigns the Public Policy committee to verify that Wikimedia DC is satisfying its 501(c)(3) and 501(h) obligation to spend under certain limits on advocacy and lobbying. The task is more naturally addressed by the Audit Committee. The proposal below is to reassign the task to the Audit Committee and ask that it be done annually. |
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| + | <div style="padding:1em; border: 3px #4f79a2 solid; background: #DEE7ED;"> |
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| − | + | 1. The [[Advisory Committee Policy]] is amended by striking Article III, Paragraph 2(e). |
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| + | 2. The [[Fiscal Control Policy]] is amended by inserting the following after Article VII: |
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| − | 3. Add a section 3 to Article III which reads: |
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| + | :<u><big>ARTICLE VIII - AUDIT</big></u> |
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| − | :3. Audit Committee. |
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| + | :1. <u>Audit Committee</u>. The Audit Committee shall be a standing committee of not less than three Directors, which shall conduct an annual review of the financial records of Wikimedia DC in accordance with Article VIII, Paragraph 2 of the [[Bylaws]], and which shall carry out such other tasks as may be assigned to it by the Board of Directors. |
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| + | :2. <u>Insubstantial Part Analysis</u>. The Audit Committee shall conduct an annual analysis to verify that no substantial part of Wikimedia DC's activities is dedicated to advocating for or against legislation, in accordance with Section 501(h) of the Internal Revenue Code. The Audit Committee shall report the results of this analysis as part of its report regarding the annual review of Wikimedia DC's financial records, or in such other place as the committee may determine in its discretion. |
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| + | </div> |
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| + | == Notes == |
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| + | {{note|The following text is not part of the proposed resolution:}} |
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| − | + | The [[Advisory Committee Policy]] assigns the Public Policy Committee to verify that Wikimedia DC is satisfying its 501(c)(3) and 501(h) obligation to spend under certain limits on advocacy and lobbying. The task is more naturally addressed by the Audit Committee. The proposal above is to reassign the task to the Audit Committee and ask that it be done annually. |
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| − | + | Shall we fill in more to specify the Audit committee's responsibility? re whistleblowing, records retention, etc? TBD. |
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Revision as of 21:11, 4 June 2016
Status: Under Review
Resolution
1. The Advisory Committee Policy is amended by striking Article III, Paragraph 2(e).
2. The Fiscal Control Policy is amended by inserting the following after Article VII:
- ARTICLE VIII - AUDIT
- 1. Audit Committee. The Audit Committee shall be a standing committee of not less than three Directors, which shall conduct an annual review of the financial records of Wikimedia DC in accordance with Article VIII, Paragraph 2 of the Bylaws, and which shall carry out such other tasks as may be assigned to it by the Board of Directors.
- 2. Insubstantial Part Analysis. The Audit Committee shall conduct an annual analysis to verify that no substantial part of Wikimedia DC's activities is dedicated to advocating for or against legislation, in accordance with Section 501(h) of the Internal Revenue Code. The Audit Committee shall report the results of this analysis as part of its report regarding the annual review of Wikimedia DC's financial records, or in such other place as the committee may determine in its discretion.
Notes
The following text is not part of the proposed resolution:
The Advisory Committee Policy assigns the Public Policy Committee to verify that Wikimedia DC is satisfying its 501(c)(3) and 501(h) obligation to spend under certain limits on advocacy and lobbying. The task is more naturally addressed by the Audit Committee. The proposal above is to reassign the task to the Audit Committee and ask that it be done annually.
Shall we fill in more to specify the Audit committee's responsibility? re whistleblowing, records retention, etc? TBD.