Fair Workplace Council Sweatshop Free Electronics

ARTICLE 9: FISCAL POLICIES

SECTION 9.1: FISCAL YEAR

The Fiscal year is the same as the calendar year, from January 1 to December 31.

SECTION 9.2:  AUTHORIZATION TO ACT FOR FAIRWORKPLACE COUNCIL

The Board, except as otherwise provided in these Bylaws, may authorize any officer or agent of Fair Workplace Council to enter into any contract or execute legal documents in the name of and on behalf of Fair Workplace Council. This authority may be general or limited to specific instances. Unless authorized by the Board or these Bylaws, no person has the authority to bind Fair Workplace Council by contract, execute legal documents, or render it liable monetarily for any purpose or in any amount.

SECTION 9.3: FUNDRAISING

(a) Fair Workplace Council must establish and exercise control of all fundraising activities conducted for its benefit. This obligation includes approval of all contracts and agreements and assurance that fundraising activities are conducted without coercion.
(b) Fair Workplace Council cannot enter into any contract or agreement with a commercial fundraiser that is not registered with the California Attorney General Registry of Charitable Trusts. 
(c) Fair Workplace Council must not participate in any fundraising activities that are prohibited by the California Nonprofit Integrity Act and other regulations specified in California law.

SECTION 9.4: INDEPENDENT FINANCIAL AUDIT

(a) Once Fair Workplace Council reaches over five hundred thousand dollars ($500,000) in annual revenue; the Board of Directors must appoint an audit committee and hire an independent certified public account to create a financial audit each year, as required by California law. The results of this audit will be public record and placed on the Fair Workplace Council website.
(b) Requirements of Audit Committee Members
(i)  The Audi Committee may include non-Board members.
(ii)  The Audit Committee can not include staff members, CEO, CFO, or treasurer. 
(iii)  If there is a finance committee, they may not comprise more than 50% of the audit committee’s members.
(c) Duties of the Audit Committee.
(i)  Recommend to the Board the retention and termination of an independent auditor.
(ii)  Negotiate compensation of the auditor on behalf of the Board.
(iii)   Confer with the auditor to satisfy the committee members that the financial affairs of Fair Workplace Council are in order.
(iv)  Approve non-audit services by the independent CPA’s accounting firm and ensure that these services conform to the US Comptroller General’s Yellow Book.

SECTION 9.5: PROHIBITION AGAINST SHARING CORPORATE PROFITS
As directed by Article V of Fair Workplace Council Articles of Incorporation, the property of the Fair Workplace Council is irrevocably dedicated to charitable purposes. No part of the net income or assets can be used to benefit any Director, officer, employee, or any private person. If Fair Workplace Council dissolves, all remaining assets after payment of liabilities and debts must be distributed to a nonprofit corporation, fund, or foundation that is organized exclusively for charitable purposes and has established tax exempt status under Section 501(c)(3) of the Internal Revenue Code.