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".: TO: Governance Committee . FR: Finance Committee CPY: Executive Director Subject: Recommended Governance Committee Budget and Disbursement Procedures Date: January 6, 1999 The following is a proposed Governance Committee (GC) budget and process for expenditures. The budget is a tool for use in identifying the allocation of monetary resources. The budget is based on the anticipated costs of the GC, the Executive Director (ED), and committees subordinate to the GC. Subordinate committees include the Water Management Committee (WMC), Land Committee (LC), Technical Committee (TC), Finance Committee (FC) and Outreach Committee (DC). The budget does not authorize any subordinate committee or individual to spend money. The budget should also be reviewed and revised periodically. The expenditure process defines how funds will be disbursed from the GC budget. Unless otherwise directed by the GC, all disbursements will be made by through a foundation selected by the GC to administer GC finances. PROCESS FOR EXPENDITURES . Spending Commitments The GC based on recommendations from the FC and a formal action by the GC must approve spending commitments. Spending commitments are processed through a foundation selected by the GC to provide administration of GC finances. Contributions to cover spending commitments will be made to the foundation in accordance with the "foundation agreement.>> .' . Spending commitments can take the form of subcontracts with vendors, with the foundation acting as the contracting entity, and funding agreements with subordinate committees. The GC's approval of subcontracts or subcontract amendments is an action promising payment for work performed in accordance with the subcontracts or amendments. Likewise, a funding agreement with a subordinate committee is a spending commitment by the GC to the subordinate committee. Subcontracts and funding agreements must be itemized and very specific. Subcontracts and funding agreements establish the terms for expenditures, period covered, and authorize the subcontractor or subordinate committee chair to submit invoices for payment under those terms. Generally, funding agreements will be established for a period no greater than six months. .