Article 7 - Duties of the Board of Directors

1. General Powers of the Board of Directors.  The Board of Directors shall be responsible for conducting the day-to-day business of the Association as prescribed and set forth in the Articles of Incorporation and Bylaws, as prescribed by law.  The Board of Directors is empowered and authorized to bind the Association and the General Assembly and are authorized to conduct the business of the Association.  In accordance with the Articles, the financial authority of the Board of Directors is limited to Five Thousand Dollars ($5,000.00) per transaction.  If the Board of Directors desires to enter into a transaction for an amount greater than Five Thousand Dollars ($5,000.00) the Board of Directors must first call for a meeting of the General Assembly and obtain the approval via majority vote of the General Assembly.
2. Investment of Surplus Funds.  The Board of Directors shall have the authority to invest, or cause to be invested, such reserves or funds of the Association which are not necessary for the immediate operation of the Association, all as allowed by Arizona state law for public school districts.  The level of cash to be retained in the operating fund shall be determined by the Board of Directors. 
3. Additional Duties of the Board of Directors.  The Board shall:
   1. Establish rules and regulations for conducting business in accordance with the applicable laws of the State of Arizona and with these Bylaws.
   2. Provide for the management and administration of the Association in a manner that is in the best interest of the Association.
   3. Insure that a complete and accurate system of accounting of all funds is maintained at all times as set forth herein, in accordance with generally acceptable accounting procedures that an annual review of all funds be performed by an accredited accountant.  An annual financial statement shall be provided by the Board of Directors to the General Assembly.  All accounting shall be separate and apart from any educational agency and there shall be no co-mingling of any funds between the Association and an educational agency.
   4. Receive, accept, expend and disburse funds subject to the limitations set forth in the Articles of Incorporation and these Bylaws.
   5. Make appropriate periodic reports to the membership on the status of the Association and its programs, but in any event, such reports shall be provided at the annual meeting of the general membership.
   6. Develop and cause to be developed an annual budget for the Association which shall be provided and approved by the voting members of the Association at the General Assembly.
   7. Recommend to the General Assembly and the general membership the hiring of such employees and other personnel as is required for the administration of the corporation, including but not limited to, accountants and legal services.
   8. Perform any and all other functions necessary for the day-to-day operation and administration of the Association.

Article 1 - Name
Article 2 - Purposes
Article 3 - Offices/Principal Place of Business
Article 4 - Membership
Article 5 - General Assembly
Article 6 - Board of Directors
Article 7 - Duties of the Board of Directors
Article 8 - Finances
Article 9 - Termination of a Member District 
Article 10 - Conflict of Interest
Article 11 - Initial Board of Directors
Article 12 - Bylaws
Article 13 - Fiscal Year
Article 14 - Amendment
Certification