1997-1
A Resolution to Coordinate Regional Finances with LSM-USA

WHEREAS, several regions of LSM-USA are experiencing serious financial difficulties, which have prevented regions from holding regional functions and have rendered the holding of such events financially problematic, and

WHEREAS, regional representatives have repeatedly voiced the concerns of their regions with regards to regional financing difficulties, and

WHEREAS, these difficulties have in the recent past prevented National Council members from attending National Council meetings, and

WHEREAS, the 1997 National Council has deemed it necessary that LSM-USA annually monitor the financial health of its regions, and

WHEREAS, LSM-USA does not currently require regions to submit budget statements, and

WHEREAS, submitted annual budget statements by all regions will contribute to the maintenance of a high state of regional financial organization, a state of organization that will benefit both the individual region and LSM-USA as a whole.

THEREFORE, BE IT RESOLVED THAT LSM-USA:

Require each region to submit a type-written budget statement to LSM-USA on an annual basis beginning with FY '98 (begins 1 March, 1998).

a) Budget statements will be submitted before 1 March annually, so as to operate on the same fiscal calendar as LSM-USA.

b) Formats for budget statements will be according to accepted accounting principles but statements must include the previous year's income and expenditure figures as well as projections for the coming FY.

c) Budget statements submitted for FY '98 will not be required to contain income and expenditure figures for the previous year (FY '97), if those figures are not available.

Author:             Joel C. Christenson, Virginia Military Institute Blue Ridge Regional Representative

Approved and Adopted