Sample Policy for Illustrative Purposes Only
2.4 With respect to the actual, ongoing financial condition and activities, the CEO will not cause or allow the development of fiscal jeopardy or material deviation of actual expenditures from board priorities established in Ends policies.
The CEO will not:
2.4.1 Expend more funds than have been received in the fiscal year to date unless the debt guideline (below) is met.
2.4.2 Incur debt in an amount greater than can be repaid by certain, otherwise unencumbered revenues within [XX] days.
2.4.3 Use any long-term reserves unless approved by the [ORG] board and repaid within [XX] days.
2.4.4 Conduct interfund shifting in amounts greater than can be restored to a condition of discrete fund balances by certain, otherwise unencumbered revenues within [XX] days.
2.4.5 Allow payroll and debts to be settled in an untimely manner.
2.4.6 Allow tax payments or other government ordered payments or filings to be overdue or inaccurately filed.
2.4.7 Make a single purchase or commitment of greater than $[XXXX]. Splitting orders to avoid this limit is not acceptable.
2.4.8 Acquire, encumber or dispose of real estate.
2.4.9 Allow receivables to be unpursued after a reasonable grace period.
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