Hydra financial bylaws
DEPRECATED - replaced 2016-06-10 byĀ Samvera financial governance
- Hydra shall establish and maintain a standing financial subcommittee consisting at any time of at least four members of the Hydra Steering Group. Ā Current members of the financial subcommittee must be listed in the open wiki.
- The subcommittee shall be responsible to the wider Hydra Community for managing Hydra's monies (including an annual financial statement to Partners) and for recommending financial strategy.
- Two members of the subcommittee shall be designated "financial stewards" who will be Hydra's normal points of contact with its fiscal sponsor (currently DuraSpace).
- Either financial steward shall be empowered to authorize routine banking transactions up to the value of $250 without prior permission from the larger Steering Group provided only that the authorizing email be copied to all members of Steering. Ā Routine payments are identified on the Steering Group page:Ā /wiki/spaces/steering/pages/405211360Ā (note: this page is restricted to SG members)
- The financial stewards shall be empowered to authorize banking transactions exceeding $250 only with the prior agreement of the wider Steering Group. Ā Once such approval has been received from the Steering group,Ā either steward shall communicate the approval to DuraSpace with cc: to all members of Steering. Ā
- In the absence of one or both stewards, other members of the financial subcommittee may substitute as signatories.
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Approved by Steering 24 April 2015
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