Nev. Admin. Code § 385B.156

Current through December 31, 2024

Section 385B.156 - Fiscal duties

The Executive Director shall:

1. Maintain a system of accounting for the receipts and expenditures of the Association for each fiscal year beginning on July 1 and ending on June 30 of each year;

2. Prepare and submit to the Board a budget for the Association for each fiscal year specified in subsection 1;

3. Submit to the Board at each meeting of the Board a financial report that specifies:

(a) The sources of revenue for the Association;

(b) The expenditures of the Association; and

(c) The beginning and ending balances for each category set forth in the budget of the Association;

4. Monitor the finances of the Association and recommend to the Board any measure that ensures that those finances remain fiscally sound;

5. Submit to the Board the name of an auditor for selection by the Board to conduct an audit of the accounts of the Association;

6. Ensure that the auditor selected pursuant to subsection 5 conducts an audit of the accounts of the Association not later than August 31 of each year;

7. If the Board conducts a meeting during September of any year, submit to the Board during that meeting a report which includes the results of the audit conducted for the immediately preceding fiscal year pursuant to subsection 6;

8. Receive all dues and other money paid to the Association and disburse the dues and money in accordance with the regulations, budget and policies of the Board;

9. Prepare and receive bids for purchases that exceed $2,500 in accordance with NAC 385B.102;

10. Collect any fees imposed by the Association in a timely manner;

11. Establish and carry out a program of investment for the Association;

12. Ensure that the Association does not incur expenses that exceed the amount of money available for expenditure by the Association for a fiscal year; and

13. Ensure that each donation received or made by the Association is approved by the Board at a regularly scheduled meeting of the Board.

Nev. Admin. Code § 385B.156

(Added to NAC by Nev. Interscholastic Activities Ass'n by R206-03, eff. 11-2-2004) - (Substituted in revision for NAC 386.647)

NRS 385B.060