Bylaws
of
Arizona Impact Aid Association
A Non-Profit Corporation

Article 8 - Finances

1. Annual Dues.  Each member school district shall pay annual dues to the Treasurer of the Association.  The dues for each voting member shall be One Thousand Dollars ($1,000.00), payable prior to the commencement of the new fiscal year.  The Treasurer of the Association shall cause an invoice to be sent to each member educational agency a minimum of sixty (60) days prior to the commencement of the new fiscal year.  In order to be a voting member in good standing of the Association, the dues for the upcoming fiscal year must be paid on or before July 1 of the new fiscal year.  Likewise, the dues for each non-voting associate member and non-voting corporate member shall be Two Hundred Fifty Dollars ($250.00) invoiced and payable as set forth above for voting educational agencies dues. 
2. Additional Income.  The Treasurer shall accept and deposit in the Association’s funds monies from any of the following sources:
   1. Interest and other investment income.
   2. Collection of subscription/dues, conference registration fees and any other fees and/or donations provided to the Association.
   3. Grants from any agency or private company, subject to the approval of the Board of Directors and subject to the requirements of 501(c)(3) provisions.
3. Annual Accounting Review.  The Board of Directors shall select and recommend to the general membership, a certified public accountant to perform an annual accounting review of the accounts and records of the Association, in accordance with generally accepted accounting procedures.
4. Contracts, Checks, Deposits and Funds:
   1. The Board of Directors, by and through the Treasurer, shall open up and maintain a bank account and/or a checking account for and on behalf of the Association.
   2. All checks, drafts or orders for payment of monies, notes or other evidence of indebtedness issued in the name of the Association shall be signed by the Treasurer and one (1) other officer of the Board. 
   3. All funds of the Association shall be deposited in a timely manner, to the credit of the Association, in such bank, trust companies, or other depositories as the Board of Directors may select.
   4. The Board of Directors may, at its discretion, accept on behalf of the Association, contributions, gifts, bequests or devises, for general purposes or for any special purpose of the Association, or consistent with the requirements of 501(c)(3) requirements.

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