Financial Rules




The operating budget shall detail all the normal expenses connected with the maintenance of the operations of the NJSA and the expenses and collections connected with each committee in order to accomplish the assigned tasks.

b)Standing Committees Budgets

Each Vice President, in cooperation with the Finance Committees and the direction of the President, shall make a detailed proposal of its committees budgets, which, when completed, shall be incorporated in the Operating Budget of the NJSA.

These committees’ budgets must include possible collections, in addition to the expected expenses. Also included in the committee budgets shall be the Chairman Compensation for Expenses, if they are permitted as per rule 2314.

c) Approval of Budget

Each operating budget of the NJSA must be approved the AGM. If, for any reasons, in the operating budget cannot be approved by this date, the previous year budget will be used in order for the NJSA to operate and it will be valid until the definitive Operating Budget is approved.

The Operating Budget must be approved by the Executive Committee by a simple majority vote of all voting power of the Committee.

d) Amendments to the Operating Budget

Any part of the NJSA Operating Budget may be amended upon request of a member of the Executive Committee, but such amendment must be approved by 2/3 of the voting power of the Executive Committee in order to become effective.

6102.   EXPENSES

All expenses must be presented to the Financial Committee for approval, on the proper form NJ-6101. This form must be signed by the Committee Chairman requesting such payments. The Financial Committee will verify the legality of the expenses and its supporting evidence (receipts) and, then, will determine the availability of funds for the Committee requesting the payment.

If the expenses are approved:

1)If money is available, the disbursement will be made.

2)If money is not available or is insufficient, the Finance Committee will have to request an amendment to the Budget (see rule 6101-d).


All disbursements will be made by the Treasurer upon approval by the Financial Committee’s Chairman of the form NJ-6101, requesting the disbursement.

All disbursements shall be countersigned by the Financial Committee’s Chairman or by the President of the Executive Committee if he is absent.


All money collected by any Committee during performance of their tasks, shall be turned over to the Finance Committee, accompanied by form NJ-6102, in order to detail the origin of such collection.