Document:LNC Resolution 4-5 December 1982 Regarding Financial Procedures
Resolved at the December 4-5, 1982 LNC Meeting:
FINANCIAL PROCEDURES: This Committee endorses sound financial practices and controls in the operations of its affairs. From time to time it is appropriate to add or modify such controls in order to strengthen the stewardship responsibility toward our contributors' funds. The following policies are established: (section (1) deleted) (2) The National Director is cautioned to observe the resolution of 9/4/78 limiting the Director's authorization to disburse funds for unbudgeted projects to $l,000 unless National Committee approval is obtained. It is further noted that the Director must secure the National Chair's approval for all unbudgeted projects. Failure to follow this policy may be cause for dismissal. The Treasurer is required to report all violations of this policy to the National Committee. (3) It is the LNC's intention that the LNC will not be responsible for the debts incurred by future presidential campaigns or any other campaign. However, the LNC may vote to make monetary and nonmonetary contributions to such campaigns under the limits prescribed by law. If such contributions are made, they shall be made only after such candidate or campaign has agreed to meet the reasonable financial and budgetary controls set by the LNC. No candidate or staff member of a campaign is permitted to place orders, make purchases, or sign contracts in any manner that would lead a person to assume that the LNC is liable for the debt. The Secretary is responsible for publicizing this policy to all candidates for the Presidential nomination and other candidates who seek aid from the LNC or the national office.
Note: This was indexed in an official Resolution Index and identified as Resolution 234 therein. It is noted that this was amended at the April 5-6, 1986, September 2, 1987, December 6, 1987, and December 2-3, 1989 meetings. This is the amended language.