ARTICLE
5
FINANCES
50.
REIMBURSEMENT
Consistent with approved
policy, some or all of the expenses of each member of the Federated Council and
Section Commissioners may be reimbursed by the Federation for attending meetings
of the Council.
51.
ASSESSMENT
The expenses of the
Federated Council shall be met by an assessment levied upon each Section at the
beginning of the school year.
A.
FAILURE TO
After a reasonable number
of requests from the Executive Director’s office, schools that continue to be
delinquent with financial assessments after January 1st will be
immediately notified of CIF membership suspension effective January 21st.
Reinstatement of membership will be made upon receipt of assessment that
must include all past due and interest charges.
Reinstated schools will not be allowed to host any Regional or State
playoff contest in any sport for a period of one year from the time of sanction.
52.
STATE CIF PLAYOFF REPORTS
After a reasonable number
of requests from the Executive Director’s office, schools that continue to be
delinquent with financial reports will not be allowed to host any Regional and
State playoff contest in nay sport for a period of one year from the time of
sanction.
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52A EXPENSES (CENTRAL SECTION) Expenses: Necessary expenses of all Central Section Board of
Managers meetings and committee meetings approved by the President or the
Section Commissioner, shall be paid from Central Section Funds. Allocation of playoff finances after expenses shall be 40% CIF and 60% to competing schools. Schools who meet the deadlines for turning in financial statements and checks to the opposing school and Section Office will not be allowed to host play-offs in the future in sports where they do not meet the obligations, and will have the following additional penalty imposed:
Pay with in the first 30 school days----NO PENALTY
Pay after 30 school days and before 45school days---A 5% fine
from the host school’s profit
Pay after the first 45 school days--- A 10% fine from the host
school’s profit ( Approved Board of managers April 2010)
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53.
FISCAL LEGISLATION
Legislation which has a
fiscal impact upon the State CIF budget shall be submitted, no later than March
10, to the State CIF Executive Committee for their review in developing a
recommendation for the Federated Council at its spring meeting.
(“Legislation” is interpreted to mean legislation or business internal to
CIF and/or its member Sections.)
54.
INDEMNIFICATION OF SECTIONS
The CIF shall indemnify
Sections against documented net revenue loss as a result of a Section’s
participation in a system-wide merchandising or sponsorship program in lieu of a
Section-based program of like kind for a period of one year. Sections so
indemnified shall in future years of participation in that system-wide program
repay such amounts as they received in indemnified loss by receiving 10 percent
per year less than they would have received without such indemnification,
provided that such reduction shall not cause a Section to receive less than the
revenue documented for purposes of indemnification plus 5 percent annual growth.
Indemnification of loss shall cease after one year.