APPROVED DATE: —\u00a0 14TH , April 2003<\/strong><\/p>\n The Ottawa Valley Branch of the National Association of Federal Retirees has established two reserve funds.<\/p>\n Purpose<\/strong> Fund Levels<\/strong> Use of the Reserve Fund<\/strong> The Reserve Funds’ Accounting Method<\/strong> Approved.\u00a0 Signed James L. Piche \u2013 President OV Branch<\/em><\/p>\n Reserve Fund Policy – Emergency Defence of Benefits Fund<\/strong><\/p>\n Approval Date: 14th , April 2003<\/p>\n PURPOSE<\/strong> The level of the fund shall be determined by the OV Board on an annual basis. The initial level of the fund has been established by the OV Board on March 13, 2003 at $3000.00. The board has also established that quarterly increments of $100.00 will be added from the operating account commencing with the next May\/June 2003 receipts received from the national office. Quarterly Increments shall cease when the fund reaches $5,000.00<\/p>\n Approved. Signed James L. Piche \u2013 President OV Branch<\/em><\/p>\n Reserve Fund Policy – Building & Support Fund<\/strong><\/p>\n Approved Date: — 14th, April 2003<\/p>\n PURPOSE<\/u><\/strong> A change in the level of the fund shall be as determined by the OV Board on an annual basis. The fund has been established at the March 13, 2003 at $4000 by the OV Board.<\/p>\n FUND USES<\/u><\/strong> B. Equipment<\/strong> Upgrade costs shall be defined as the cost to upgrade equipment that is vital to the basic function and operation of the office.<\/p>\n C. Unpredicted Expenses<\/strong> Approved.\u00a0Signed James L. Piche \u2013 President OV Branch<\/em><\/p>\n Reserve Fund Policy \u2013 Volunteer Training Fund<\/strong><\/p>\n Purpose<\/u><\/strong><\/p>\n The primary purpose of the Volunteer Training Fund shall be to fund the costs of training branch volunteers in carrying out their responsibilities related to their role as a volunteer with the branch.\u00a0These volunteers may be board of director members or other branch members who may be assigned duties to support the branch.<\/p>\n The fund has been established at the April 13 2016 Annual General Meeting of the branch, through a transfer of $2000 from a discontinued reserve fund.\u00a0Changes to the level of the fund shall be determined by the Ottawa Valley Board on an annual basis.<\/p>\n Fund Uses<\/u><\/strong><\/p>\n Occasionally, there is a need to provide training to branch volunteers in order that they may fulfill their role properly.\u00a0This training requirement may not always be anticipated or fully funded by the national office, and may not be included in the annual budget of the branch.\u00a0In these cases, the costs of training, supplies, equipment, travel or other unforeseen training costs may be funded through this reserve.\u00a0The requirement to make use of these funds will be at the discretion of the board of directors of the branch.<\/p>\n Established by vote at the Branch AGM April 13 2016<\/em><\/p>\n Reserve Fund Policy \u2013 Special Events Fund<\/strong><\/p>\n Purpose<\/strong><\/p>\n The primary purpose of the Special Events Fund shall be to fund the costs of one-time\u00a0 events that may not have been predicted by the branch, or that are outside the normal scope of annual branch costs.\u00a0Without these reserve funds, the branch may not be able to sponsor an event that otherwise would have been desirable for the membership.<\/p>\n The fund has been established at the April 19 2017 Annual General Meeting of the branch, through a transfer of $3000 from general revenue.\u00a0Changes to the level of the fund shall be determined by the Ottawa Valley Board on an annual basis.<\/p>\n Fund Uses<\/strong><\/p>\n As the purpose of a future one-time special event is unpredictable, this fund is not to be limited to any particular type of activity.\u00a0It must be a non-recurring event that the board of directors of the branch feel would be beneficial to the membership of the branch or be relevant to the purpose of The\u00a0Association.\u00a0Examples of such events are costs related to a branch anniversary, or costs of sponsoring a branch advocacy effort that would otherwise have to be funded by individual members.<\/p>\n Established by vote at the Branch AGM April 19 2017<\/em><\/p>\n The following branch committee terms of reference documents are available.\u00a0 These are in PDF format and will open in a new window.<\/p>\n <\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Reserve Fund Policy APPROVED DATE: —\u00a0 14TH , April 2003 The Ottawa Valley Branch of the National Association of Federal Retirees has established two reserve funds. Purpose The reserve funds have been established as capital reserve for the association…<\/p>\n","protected":false},"featured_media":0,"parent":40407,"template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-40822","branch","type-branch","status-publish","hentry"],"acf":[],"yoast_head":"\n
\nThe reserve funds have been established as capital reserve for the association to be set aside for contingencies.<\/p>\n
\nFund levels to be maintained in the reserve funds will be determined from time to time by the OV Board. The reserve funds shall be reviewed annually by the OV Board at which time fund levels will be reassessed.\u00a0Expenditures from the funds throughout the fiscal year (FY) will be as authorized by the board.<\/p>\n
\nThe intent of the reserve funds are to have the funds available to meet unbudgeted expenditures as defined by each fund’s purpose.<\/p>\n
\nThe reserve funds shall be so identified and maintained in the main financial statement as\u00a0\u201cnon interest bearing\u201d funds. These funds may be invested in interest bearing certificates or bonds, and managed according to sound financial investment policies.\u00a0Interest gained from the investments are to be treated as interest income and utilized to meet annual branch operating expenses.\u00a0 A separate report detailing the balance of the fund and interest earned shall be a part of the annual treasurer’s report. Adjustments required to maintain the level of the individual reserve funds shall be made at least annually.<\/p>\n
\n<\/a>Emergency Defence of Benefits Fund<\/h2>\n<\/div>\n<\/div>\n
\nThe primary purpose of the Emergency Defence of Benefits Fund shall be for the funding of defensive actions against detrimental changes to the member\u2019s pensions and benefits. What constitutes a detrimental change shall be determined by the OV Board.<\/p>\n
\n<\/a>Building and Support Fund<\/h2>\n<\/div>\n<\/div>\n
\nThe primary purpose of the Building & Support Fund shall be for the funding of an OV Branch office and the current and future support of that office. This fund is for start up costs, equipment replacement costs, equipment upgrade costs, and other expenses that are unpredicted and not budgeted.<\/p>\n
\nA. Start Up<\/strong>
\nStart up costs shall be defined as the initial cost of equipment and other items necessary for the function and operation of a future OV Branch office.<\/p>\n
\nReplacement costs shall be defined as the cost to replace equipment that is vital to the basic function and operation of the office.<\/p>\n
\nUnpredicted expenses shall be defined as costs that were not budgeted for because the OV Branch was unable to predict the activity\/purchase during regular budget preparation.<\/p>\n
\n<\/a>Volunteer Training Fund<\/h2>\n<\/div>\n<\/div>\n
\n<\/a>Special Events Fund<\/h2>\n<\/div>\n<\/div>\n
\n<\/a>Committees<\/h2>\n<\/div>\n<\/div>\n
Branch Committees<\/h3>\n
\n