From: [email-masked] (Xiubei Liao)
Date: Wed, 1 Sep 93 23:05:26 PDT

Regulations for IFCSS's Financial Operation

     Article 1. The president must nominate to the council a treasurer and
an assistant treasurer within seven days after he starts transtion period.

     Article 2. The nominees for treasurer and assistant treasurer will be
acting treasurer and acting assistant treasurer. The acting treasurer and
assistant treasurer will assume all the  powers and the responsibilities of
treasurer and assistant treasurer before the nomination is either approved
or rejected by the council.

     Article 3. If the nomination is rejected by the council, the president
must make another nomination to the council within seven days after the
rejection. Same person must not be nominated twice.

     Article 4. No monetary transaction should be made unless there is a
treasurer approved by the council or an acting treasurer nominated by the
president.

     Article 5. The president must submit to the council a budget proposal
for his entire term within fourteen days after he starts transition period.

     Article 6. The president may follow the budget proposal before it is
approved or rejected by the council.

     Article 7. No monetary transaction should be made unless there is a
budget approved by the council or a budget proposal pending in the council.

     Article 8. The treasurer must submit to the council or an authorized
council committee in writing within three days after the last day of each
quarter a financial report. The report must include, but not limited to,
the following items:
     1. Quarterly revenues, itemized and totaled;
     2. Quarterly expenses, itemized and totaled;
     3. Management of Donation, Awards, and grants;
     4. Bank statements of all bank accounts;
     5. List of all outstanding debts up to the last day of the quarter.

     Article 9. The treasurer is required to sign all checks of all bank
accounts along with another officer designated by the president. In case
of absence of the treasurer, the assistant treasurer should sign all checks
of all bank accounts along with another officer designated by the president.

     Article 10. The treasurer must follow a designated accounting system
and all other standard accounting practice and to keep all original
financial records in good care.

     Article 11. The treasurer must open all accounting books and other
financial records to the council or any authorized agent(no less than two
representatives) of the council
all financial records upon a written request from the council or authorized
council committees.

     Article 12. Any spending not included in the budget must be approved
by the president in writing. Such spending must not exceed a total sum of
three thousand dollars ($3000) for each term. The president must provide a
copy of his written approval to the council or an authorized council
committee within fourteen days after a such spending is incurred. If the
deficit is more than three thousand dollars, the spending has to be approved
by the Council.

     Article 13. Any transaction between any IFCSS, Inc. bank account and
any IFCSS Foundation, Inc. bank account must be approved by the president
in writing. The president must notify the council or an authorized council
committee in writing for a such transaction within seven days after it is
made.

     Article 14. No financial relationship should be established and no
transaction should be made between IFCSS, including any of its working
branch, and any political organization without a prior approval of the
council.

     Article 15. Travel Advance and Reimbursement:

         1) A written request of cash advance has to be approved by the
Treasurer or the President. The request should include: description of the
activities, date(s), destination(s), projected itemized expenditure, source(s)
of funding, and any other relevant information. The approved amount of cash
advance should be no more than 80% of total projected expense;

        2) Any request of reimbursement has to be submitted to the Treasurer
in written form. The request should include: description of the activities,
date(s), destination(s), itemized spending with original receipts attached,
any other relevant information, and the signature of applicant, the request
should be approved by the Treasurer.

        3) Reimbursement for airline ticket may not exceed the price of
economy class ticket of the shortest distance between the destinations;
Reimbursement for private car travel may not exceed the rate at $0.2/mile;
In general, the lodging reimbursement is not recommended unless it is approved
by the President or the Treasurer, the rate for  lodging reimbursement
should not exceed the rate at $60.0 per day.

      Article 16. Violation of these regulations may result in removal from
the office(includ president,vice-president,treasurer,assistant-treasuer...etc.
any related person) if it is recommended by the Council.

      Article 17. Amendment to these regulations may be adopted at any Council
meeting.