84(96)

SLA UNIT REPORTING REQUIREMENTS POLICY

I. Policy

It is the policy of the Special Libraries Association to adhere to all federal, state and local reporting requirements, including all units of the Association.

II. Purpose

The purpose of this policy is to ensure that the Association protects its tax-exempt status and maintains sound financial practices in accordance with the Internal Revenue Service, Financial Accounting Standards Board, and other regulatory bodies.

III. Practice/Procedure

A. The SLA Unit Reporting Requirements Policy will remain an active document, reviewed by the CFO on an annual basis.

B. Significant changes in the procedures will be reported to the Finance Committee and to the Association's independent audit firm.

C. Any unit that does not submit a complete set of financial and annual reports for any given year within three months of the report's due date will forfeit the annual allotment and be subject to dissolution. The minimum reports required of each chapter and division are: Annual Report (due each December 1st) and Annual Financial Statement (due each January 31st). The minimum report required of each caucus and committee is: Annual Report (due each December 1st).

IV. Responsibility

The Chief Financial Officer is responsible for maintaining the SLA Unit Reporting Requirements Policy.

Approved: 1996
Amended: January 2007