Example for Illustrative Purposes Only
2.3 Financial planning for any fiscal year or the remaining part of any fiscal year will not deviate materially from board’s Ends priorities, risk fiscal jeopardy, or fail to be derived from a multi-year plan.
The CEO will not allow budgeting that:
2.3.1 Risks incurring those situations or conditions described as unacceptable in the board policy “Financial Condition and Activities.”
2.3.2 Omits credible projection of revenues and expenses, separation of capital and operational items, cash flow, and disclosure of planning assumptions.
2.3.3 Provides less for board prerogatives during the year than is set forth in the Cost of Governance policy.