Internal:Audit

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Revision as of 21:44, 7 May 2016 by Econterms (talk | contribs) (updated materials)
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Audit committee's charter and responsibilities

  • Wikimedia DC has a standing Audit Committee of 3 or more Directors who shall conduct an annual review of the financial records of the Corporation. (from the Bylaws)
  • Also from Bylaws, ARTICLE X - FISCAL CONTROLS (edited to focus on audit issues):
  • Disbursements over $25 shall be made only by check drawn on the Corporation's bank account or by electronic means, except where a resolution of the Board allows for cash disbursements in excess of $25 for specific purposes. Any disbursement over $5 shall be supported by voucher or receipt. All checks, drafts, notes and evidence of indebtedness of the Corporation shall be signed by either the Treasurer or the President. Disbursements in excess of $2,500 shall require the signature or written approval of both the President and the Treasurer.
  • 2. Annual Budget. Prior to the commencement of each fiscal year, the Board shall prepare an estimated budget for the following fiscal year for the approval of a majority of those present and voting at a membership meeting.
  • 4. Capital Expenditures. Capital expenditures in excess of $1,000 must be approved by a majority of those present and voting at a membership meeting. Approval of a line item in the annual budget shall constitute membership approval of a capital expenditure.
  • Need to audit chapter's finances from 2014-2015.
  • Could examine whether Fiscal Controls was followed.
  • more centrally, see the Fiscal control policy
  • Whistleblower policy - . . . the report shall be submitted to the Chair of the Audit Committee. . . for review of Wikimedia District of Columbia operations by the Audit Committee.


References