Policies of the Montavilla Food Co-op
July 29, 2014
Policies of the
Montavilla Food Co-operative
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Policies of the Montavilla Food Co-op
July 29, 2014
Introduction
This document is entitled “Policies of the Montavilla Food Co-operative,” and is
enacted by the Montavilla Food Co-operative Board of Directors under the
authority granted to the board by s. 62.280(1) ORS to exercise the corporate
powers of the co-operative and to direct the management of its business affairs;
and by s. 4.1 MFC Bylaws to “have full power and responsibility to govern the
Cooperative, including, but not limited to, hiring management and evaluating
its performance, and assuring that the mission of the Cooperative is carried
out.” It is the intent of the board to govern the co-operative through a unified,
written, accessible policy code that is carefully considered and easily
amendable.
[History: Introduction created 7/17/14 by Sub 1. To Res.
Adopting Policies of the Montavilla Food Co-op; effective
7/29/14]
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Policies of the Montavilla Food Co-op
July 29, 2014
Part 1 – Governance Policy
Chapter 1 Shared Values Policy
Chapter 2 Ethics Policy
Chapter 3 Member Democracy Policy
Chapter 4 Board Rules Policy
This part is entitled “Governance Policy,” and is intended to create a free, fair,
productive, efficient, democratic, transparent governance process focused on
achieving the mission of the co-operative. The Governance Policy consists of the
following policies:
[History: Governance Policy created 7/17/14 by Sub 1. To
Res. Adopting Policies of the Montavilla Food Co-op; effective
7/29/14]
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July 29, 2014
Part 1, Chapter 1 – Shared Values
Policy
Section 1 Intent. This chapter is entitled “Shared Values Policy,” and it is
intended to clearly state the shared values of the co-operative in one place; and
to promote awareness of these values during co-operative decision-making.
Section 2 Purposes of Montavilla Food Co-operative. In accordance with the
Article II of the Articles of Incorporation, the purposes of the Montavilla Food
Co-operative are to:
Subsection (a) Lawful Activities. Engage in any lawful activities for
which a co-operative may be organized under Ch. 62 ORS. The cooperative is organized and shall be operated exclusively on a co-operative
and non-profit basis.
Subsection (b) Community Access to Healthy Food. Provide the
community with convenient, affordable access to an inventory of healthy
foods that are determined solely by the co-operative’s membership.
Subsection (c) Statement on Co-operative Identity. Be managed and
governed by its membership in accordance with the 7 co-operative
principles as adopted by the International Co-operative Alliance.
Subsection (d) Local Agricultural and Economic Support. Actively
support local agriculture, and the local economy.
Subsection (e) Fair Labor Practices. Support fair labor practices as key
to nurturing a healthy community.
Subsection (f) Green Sustainable Business. Endeavor to be a green
business, and implement sustainable practices.
Section 3 Mission of the Montavilla Food Co-operative. The Mission of the
Montavilla Food Co-operative is to connect the east Portland community to
healthy food, support local farmers and producers, build community wealth
and advance sustainability initiatives all within a centrally located, co-operative
grocery.
Section 4 Posting. The Purposes of the Montavilla Food Co-op, the Statement
on the Co-operative Identity, and the Mission of the Montavilla Food Co-op
must be posted prominently at the co-operative.
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[History: Shared Values Policy created 7/17/14 by Sub 1.
To Res. Adopting Policies of the Montavilla Food Co-op;
effective 7/29/14]
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Part 1, Chapter 2 – Ethics Policy
Section 1 Intent. This chapter is entitled “Ethics Policy,” and it is intended to
establish a set of ethical standards expected of the people entrusted with the
governance and operations of the co-operative.
Section 2 Positions of Trust. Every director, officer, and worker of the cooperative holds a co-operative position of trust.
Section 3 Ethical Expectations. Every person who holds a co-operative
position of trust shall:
Subsection (a) Conduct. Commit to ethical, respectful, co-operative,
professional, and lawful conduct; and
Subsection (b) Good Faith. Act in good faith, in a manner which the
person believes to be in the best interest of the co-operative, and with
such care as an ordinarily prudent person in a like position would use
under similar circumstances; and
Subsection (c) Un-conflicted Loyalty. Demonstrate un-conflicted
loyalty to the interests of the co-operative. This accountability supersedes
any conflicting loyalty such as that to advocacy or interest groups,
membership on other boards or staffs, and the personal interest of any
person acting as an individual consumer or co-op member; and
Subsection (d) Self-Dealing. Not self-deal or conduct private business or
personal services with the co-operative except as procedurally controlled
to assure openness, competitive opportunity and equal access to
information; and
Subsection (e) Abstain if Conflict of Interest. Abstain from the
conversation, debate, vote or decision in any situation where the person
has an unavoidable conflict of interest; and
Subsection (f) Express Authority. Not act on behalf of or speak for a
body on which the person serves without express authority from that
body; and
Subsection (g) Confidentiality. Respect the confidentiality appropriate
to issues of a sensitive nature and continue to honor confidentiality after
leaving the body; and
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Subsection (h) Support Legitimate Authority. Support the legitimacy
and authority of the decisions a body of the co-operative makes on any
matter, irrespective of personal opinions on the issue; and
Subsection (i) Resignation. Resign as director before applying for
employment at the co-operative.
[History: Ethics Policy created 7/17/14 by Sub 1. To
Res. Adopting Policies of the Montavilla Food Co-op;
effective 7/29/14]
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Part 1, Chapter 3 – Member
Democracy
Section 1 Intent. This chapter is entitled “Member Democracy,” and it is
intended to ensure transparent, free, fair, and democratic director nominations
and elections and member meetings and votes; and to comply with: s. 4.2 MFC
Bylaws which requires the board to establish a Nomination Committee and to
prescribe the manner in which annual director elections must occur; s. 62.255
– 62.275 ORS [ ], and with s. 2 – 3 MFC Bylaws [ ].
Section 2 Director Nominations. The Nomination Committee shall:
Subsection (a) Online Nominations. Make nomination papers and
procedures available online so that all members of the cooperative have
access at all times.
Subsection (b) Forms and Instructions. Make official nomination forms
and instructions available to each member of the cooperative.
Subsection (c) Committee Nominations. Nominate qualified candidates
to stand for director during the annual director election.
Subsection (d) Member Nominations. Nominate any candidate who has
submitted nomination papers signed by at least fifteen members of the
co-operative.
Subsection (e) Annual Nomination Deadline. Submit annual director
nominations to the board and to the Elections Team no later than 45
days before the annual membership meeting.
Subsection (f) Vacancy Nominations. Whenever the board or the
president so requests, submit qualified director nominations to the board
to fill director vacancies between annual elections.
Subsection (g) Nomination Postings. The Committee shall post all
nominations online, so that all members of the co-operative may have
access to them at all times.
Section 3 Calendar. By August 1 of each year, the Elections Team shall
determine a calendar for the nomination and election of the directors. The team
shall determine the calendar for all other ballot questions in conjunction with
the president and in accordance with Oregon law. [define ballot question]
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Section 4. Elections and Ballot Questions. All director elections and ballot
question occur as in-person or absentee votes at an annual or special
membership meeting. Proponents and opponents of any ballot question, and
each nominee shall have the option of providing a statement of not more than
400 words that shall be distributed to the membership at this forum and
posted so that all members of the co-operative may have access at all times.
Section 5 Results. The team shall tabulate the votes and certify and announce
the results of each election or ballot question. Vote tabulation and the
announcement of results, including vote totals, shall be completed immediately
after the adjournment of the annual membership meeting. All ballots shall be
initialed by the Team and secured for three months following the
announcement of the results. The nominees who receive the most votes are
elected to the board. Results of ballot questions shall be announced depending
upon the laws and policies regarding each ballot question. [research] Any ties
which have no impact on the outcome of the elections shall be ignored. In the
event of a tie which impacts the outcome of who will be elected or in the event
of a tie which affects who will get a shorter term, such outcomes will be settled
by the appropriate tied parties by drawing lots.
Section 7 Annual Member Meetings. In accordance with s. 3.1 MFC Bylaws,
beginning in 2015 the board determines that the annual membership meeting
shall be held in East Portland each September as determined by the Elections
Team. The annual membership meeting agenda shall be as follows:
1. Call to Order; and
2. Determination of Quorum; and
3. Annual Operation and Finance Report of the Board of Directors to the
Membership; and
4. Such Other Business as Directed by the Board or the President
Section 8 Member Votes. In accordance with s. 3.4 MFC Bylaws, voting by the
membership to elect or remove directors or on any ballot question shall be
conducted under the direction of the Secretary by the Elections Team by means
of an anonymous in-person secret ballot with the option of an absentee ballot
bearing the voter’s signature. All ballots shall be paper, and absentee ballots
must be mailed to each member of the co-operative at least four weeks prior to
the meeting at which the election is to take place. Absentee ballots shall remain
private, and only the team shall verify the signature and validity of the said
ballot. Names shall appear on the ballot in random order. Members may cast
only one ballot in any election or on any question. Members may vote for no
more director candidates than there are open seats. The team shall prepare,
issue, and secure forms and ballots; and conduct absentee and in person
voting. The team shall make determinations regarding the voting eligibility of a
member, protect against unauthorized voting, and make determinations
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regarding the validity of a ballot or group of ballots. The team shall make
interpretations of co-operative elections law and policy regarding the conduct of
a director election in progress.
Section 9 Quorum. In accordance with s. 3.5 MFC Bylaws, the board
determines that five percent of the active members of the co-operative
constitutes quorum.
[History: Member Democracy Policy created 7/17/14 by Sub
1. To Res. Adopting Policies of the Montavilla Food Co-op;
effective 7/29/14]
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Part 1, Chapter 4 – Board Rules
Policy
S 1 Intent. It is the intent of the board, through this policy, to govern
Montavilla Food Co-operative efficiently, fairly, openly, respectfully, and
courteously.
Section 2 Enforcement. It is the responsibility of the president to enforce this
policy. It is the responsibility of any person presiding over a body to which this
policy applies to preside according to this policy.
Section 3 Application. This policy applies to the board and to all committees,
subcommittees, councils, groups, teams or other bodies exercising delegated
powers of the board or otherwise subject to the control, selection or approval by
the board.
Section 4 Planning
[History: s 4 renamed 7/17/14 by Sub 1. To Res. Adopting
Policies of the Montavilla Food Co-op; effective 7/29/14]
Subsection (a) Strategic Plan. Every June, the board shall elect from
among its own members a Strategic Planning Chair to lead the board in
the organization, writing, and adoption of a strategic plan by November of
each year. The plan shall be in the form of a resolution. The plan shall
contain objectives and goals focused on supporting and achieving the
shared values and mission of the co-operative; and deadlines for the
completion of specific elements of the plan; and designations of the
persons or groups responsible for implementation of each specific
objective and goal. The board should seek recommendations and input
for the plan from the members of the co-operative, and from stake
holders and allies outside the co-operative.
[History: s 4 (a) created 7/17/14 by Sub 1. To Res. Adopting
Policies of the Montavilla Food Co-op; effective 7/29/14]
Subsection (b) Evaluation and Work Plan. Every September, the
secretary of the board shall cause the board to receive an evaluation
including self-assessment, meeting productivity assessment, full group
assessment and, as appropriate, co-operative member feedback. The
board shall review the results of each evaluation.
[History: s (4) renumbered as s. (4) (b) 7/17/14 by Sub 1. To
Res. Adopting Policies of the Montavilla Food Co-op; effective
7/29/14]
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Section 5 Notices, Agendas, Minutes, Open Meetings, and Executive
Sessions.
Subsection (a) Content of Notices. A meeting notice must specify the
name of the body meeting, and the agenda, date, time, and place of the
meeting. Notices must be approved by the person or persons authorized
to call the meeting.
Subsection (b) Posting and Delivery of Notices. At least ten calendar
days prior to a meeting, the presiding officer of the body meeting shall:
Paragraph (a) Each Member. Deliver the notice to each member of
the body that is meeting; and
Paragraph (b) Office Posting. Post the notice conspicuously at the
co-operative office; and
Paragraph (c) Online Posting. Post the notice online, so that all
members of the co-operative are allowed access to the notice and
its attachments at all times.
Paragraph (d) Items Not Noticed Are Out of Order. Except by
unanimous consent, only agenda items enumerated in the notice
are in order at any meeting.
Subsection (c) Minutes. The Minutes of a body shall be kept by the
secretary of that body. Within five days of each meeting, the secretary
shall post draft minutes conspicuously in writing at the co-operative
office and online, so that all members are allowed access at all times.
Whenever a body approves final minutes, its secretary shall update the
posted draft minutes and note the date of their approval. Minutes shall
include:
Paragraph (a) Name. Name of body meeting; and
Paragraph (b) Time and Place. Date, hour, location, and time of
adjournment of meeting; and
Paragraph (c) Present. Names of those present entitled to vote,
and those present not entitled to vote; and
Paragraph (d) Matters Considered. Each matter considered and
the action taken, if any; and
Paragraph (f) Complete Text. A complete and full text of any
motions, resolutions, recommendations or policy adopted by the
body; and
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Paragraph (g) Names and Positions. Names of persons appearing,
other than members of the body, the matter on which they appear,
and the position taken; and
Paragraph (h) Out-of-Session Referrals. In the case of the board,
any out-of-session referrals to committee made since the last
regular meeting.
Subsection (d) Open Meetings. All meetings of a body are open to the
members of the co-operative unless closed under the provisions of this
policy.
Subsection (e) Convening in Executive Session. Any meeting or any
part a meeting of a body to which this policy applies may be convened in
executive session only under the rules of this policy.
Subsection (f) Executive Session Announcement. Before the board
decides to convene in executive session, the presiding officer must
announce to those present at that meeting: the general nature of the
business to be considered at such an executive session; and the specific
provisions under this policy by which such executive session is
authorized. Such announcement shall become part of the minutes.
Subsection (g) Impermissible Executive Session Actions. No business
is in order in an executive session unless it relates to matters contained
in the executive session announcement made by the presiding officer.
Subsection (h) Executive Session Attendance. No person may attend
an executive session except directors, and the persons specified in the
motion.
Subsection (i) Reasons for an Executive Session. An executive session
may be held for any of the following reasons:
Paragraph (a) Personnel or Harassment. Deliberating concerning
any personnel, or harassment proceeding; or
Paragraph (b) Employment. Considering employment, promotion,
compensation or performance evaluation data of any employee; or
Paragraph (c) Crime Prevention. Considering strategy for crime
prevention or fraud detection; or
Paragraph (d) Competition or Bargaining. Whenever competitive
or bargaining reasons require; or
Paragraph (f) Specific Persons. Considering financial, medical,
social or personal histories or disciplinary data of specific persons,
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preliminary consideration of specific personnel problems or the
investigation of charges against specific persons which, if
discussed in public, would be likely to have a substantial adverse
effect upon the reputation of any person referred to in such
histories or data, or involved in such problems or investigations; or
Paragraph (g) Legal Counsel. Conferring with legal counsel who is
rendering oral or written advice concerning strategy to be adopted
by the body with respect to litigation in which it is or is likely to
become involved; or
Paragraph (h) Executive Session Minutes. Review and approval
of executive session minutes; or
Paragraph (i) Legal Reasons. Any reason as required by law.
Section 6 Officers. The president, vice president, secretary, and treasurer are
the officers of the co-operative. The president and vice president must be
directors, and the secretary and treasurer may be directors.
Section 7 Regular Board Meetings. Regular board meetings shall be held
monthly according to a calendar proposed by the president and approved by
the board. The president may cancel or reschedule any scheduled regular
meeting upon such advance notice to the directors as is practical under the
circumstances. Regular meeting agendas shall be as follows:
Subsection (a) Call To Order; and
Subsection (b) Announcements; and
Subsection (c) Approval of the Minutes; and
Subsection (d) Approval of the Agenda; and
Subsection (f) Programs and Special Matters; and
Subsection (g) Governance Reports (at the first regular meeting of every
January and June reports shall be presented by the officers); and
Subsection (h) Management Reports (Reports shall include operations,
marketing, maintenance, information systems, personnel, and finance
reports); and
Subsection (i) Recommendations and Reports of Standing
Committees; and
Subsection (j) Recommendations and Reports of Special
Committees; and
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Subsection (k) Old Business; and
Subsection (l) New Business
[History: final sentence of s. 7 created by Res. Amending Board
Rules Policy 5/15/14, effective 5/20/14.]
Section 8 Organizational Board Meetings. Organizational board meetings
shall be the first meeting of the board following the annual election of directors.
Organizational meeting agendas shall be as follows:
Subsection (a) Call to Order; and
Subsection (b) Announcements; and
Subsection (c) Seating of the Newly Elected Directors; and
Subsection (d) Amendment of the Board Rules
[History: final sentence of s. 8 created by Res. Amending
Board Rules Policy 5/15/14, effective 5/20/14.]
Section 9 Special Board Meetings. Special board meetings may be called by
the president, and shall be called by the president upon the request of a
majority of the directors in the form of a meeting notice. Special meeting
agendas shall be as follows:
Subsection (a) Call to Order; and
Subsection (b) Such business as is placed on the agenda in the notice
[History: final sentence of Section 9 created by Res.
Amending the Board Rules Policy 5/15/14; effective
5/20/14]
Section 10 Reports. No later than five days prior to pertinent meetings of the
board, appropriate agents of the co-operative shall submit written reports to
the secretary for distribution to the directors including analysis and
information required by policy to be reported to the board, or which warrants
the attention of the board.
Section 11 Consideration of Policy.
Subsection (a) Written Resolutions. Except for procedural motions,
long or complicated motions should be made as written resolutions. The
president may require that any non-procedural motion be introduced as
a written resolution. Each resolution must include a title and a brief
explanation. A resolution is introduced whenever one of the following
occurs:
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Paragraph (a) Motion. A motion is made and seconded to adopt
the resolution on the floor of the board; or
Paragraph (b) Committee Vote. A committee votes to recommend
that the board adopt the resolution; or
Paragraph (c) Written Motion. Any two directors submit to the
secretary a written motion and second to adopt the resolution.
Immediately following such a submission, the president shall refer
the motion to whichever bodies, in accordance with the duties of
those bodies, is relevant, for study and recommendations before
action is taken by the board.
Subsection (b) Referral, Numbering and Posting. The board may refer
resolutions which are properly before it to a body before the board takes
further action. Within three days of introduction, the secretary shall
assign to each resolution a unique number according to the order in
which it was introduced, and by which it may be cited. At the time of
introduction a copy of each resolution must be posted online so that it is
available to all members of the co-operative at all times.
Subsection (c) Committee Consideration. Within thirty days of the
referral of any motion to adopt a resolution, the bodies to which the
resolution was referred shall consider the motion. The chair shall notify
the members responsible for introducing the resolution, and the
principal stakeholders treated by the resolution.
Subsection (d) Fiscal Notes. All resolutions involving the expenditure or
receipt of funds shall carry a fiscal note approved by the treasurer that
details the resolution’s impact upon co-operative finances. A resolution
that does not have attached a fiscal note shall not be in order for board
consideration until such a note is provided unless the board has waived
the requirement by two-thirds vote. Should amendments or substitutes
be developed, the treasurer shall be responsible for updating the fiscal
note, as needed.
Subsection (e) Policy Notes. All resolutions that establish or change a
co-operative policy shall be accompanied by a policy note. The policy note
should be approved by the person or persons responsible for executing
the policy. A policy note shall be concise and shall identify the existing
policy, if any, on the issue; and the existing practice if there is no
formally adopted policy; and specify the impact on existing shared
values, plans, policy or practice. A resolution that does not have attached
a policy note shall not be in order for board consideration until such a
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note is provided unless the board has waived the requirement by a twothirds vote. Should amendments or substitutes be developed, the
member who developed the policy note shall be responsible for updating
the note, as needed.
[History: S 11 created by Res. Amending the Board
Rules Policy 5/15/14; effective 5/20/14].
Section 12. Recording and Communicating Decisions.
Subsection (a) Certification. Persons responsible for administering or
enforcing policy shall be specifically informed by the secretary of new policies
and changes in current policy.
Subsection (b) Effective Date of Resolutions. Unless the resolution specifies
otherwise, every resolution shall become effective on the day it is published in
the draft minutes.
Subsection (c) Policy Manual. The Montavilla Food Co-op Policy Manual is
established and shall contain the following complete and up-to-date
documents:
Paragraph (a) Oregon Co-operative Law; and
Paragraph (b) Articles of Incorporation of Montavilla Food Cooperative; and
Paragraph (c) Bylaws of Montavilla Food Co-operative; and
Paragraph (d) All policies adopted by the board; and
Paragraph (e) All job descriptions; and
Paragraph (f) All plans adopted by the board; and
Paragraph (g) All budgets adopted by the board.
Subsection (d) Policy Manual Distribution. One printed copy of the Manual
shall be maintained up-to-date in a conspicuous place at the co-operative office
for any member of the co-operative who wishes to inspect it at reasonable
times. An online copy of the Manual shall be maintained up-to-date for any
member of the co-operative who wishes to inspect it at any time.
Subsection (e) Policy Manual Revision and Distribution. No more than
seven days after a resolution is published in the draft minutes, and no more
than seven days after errors are corrected by adopted minutes, the secretary
shall issue written and electronic revisions of the appropriate provisions of the
Manual. The resolution number, effective date, and the date of issuance of the
revision shall be noted in the revision.
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[History: S 12 created by Res. Amending the Board
Rules Policy 5/15/15; effective 5/20/14].
Section 13 Committees.
Subsection (a) Purpose. The purpose of this section is to establish a
system of advisory committees to undertake preliminary consideration
and investigation of certain matters in preparation for final board action.
Subsection (b) Committee Organization. All committees shall consist of
three to five members of the co-operative nominated by the president and
confirmed by the board for terms expiring upon the adjournment of the
board session at which they were nominated. All committees shall
consist of a majority of directors, shall elect a chair and secretary and
determine a procedure. The president may recommend a resolution
creating a special committee. The board may amend, adopt, or reject the
resolution. Such resolutions expire, and special committees cease to
exist annually upon the adjournment of each board session.
Subsection (c) Nomination Committee. In accordance with s. 4.2 MFC
Bylaws, the Nomination Committee is created as a standing committee of
the board and shall have the duties and responsibilities described in the
Director Nominations and Elections Policy. Only one of the members of
the Nomination Committee must be a director.
[History: s. 13 created 7/17/14 by Sub 1. To Res. Adopting
Policies of the Montavilla Food Co-op; effective 7/29/14]
Section 14 Suspension and Amendment of the Rules. Unless otherwise
provided by this policy, any rule of the board may be suspended by unanimous
consent of the directors. Amendments to these rules at the organizational
meeting of the board shall require a majority vote. Amendments at all other
times shall require a two-thirds vote.
[History: S 14 created as s 13 by Res. Amending Board
Rules Policy 5/15/14; effective 5/20/14; renumbered s. 14
7/17/14 by Sub 1. To Res. Adopting Policies of the
Montavilla Food Co-op; effective 7/29/14]
[History: Board Rules Policy created 4/29/14 by Res.
Adopting Board Rules Policy; effective 4/29/14]
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Part 2 Administration Policy
Chapter 3 Finance Policy
This part is entitled “Administration Policy,” and is intended to direct and
empower the volunteers of the co-operative by providing them with the
structure, authority, capability, and guidance necessary to carry out their
work. The Administration Policy consists of the following policies:
[History: Administration Policy created 7/17/14 by Sub 1. To
Res. Adopting Policies of the Montavilla Food Co-op; effective
7/29/14]
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Part 2, Chapter 2: Finance Policy
Section 1 Financial Responsibility.
Subsection (a) Board. It is the responsibility of the board to formulate
financial policies and review operations and activities on a periodic basis.
Subsection (b) Treasurer and Business Team. The board delegates
oversight responsibility to the Treasurer and the Business Team. The
Business Team chair in coordination with the Treasurer is responsible
for ensuring the accuracy of the accounting records, internal controls,
financial statement preparations, and bank reconciliation review and
approval. It is also the responsibility of the Business Team to keep
current with tax and organizational filings with oversight from the board.
Section 2 Custody of Assets.
Subsection (a) Custody. It is the fiduciary responsibility of the Treasurer
to maintain control and custody of the bank accounts of co-operative.
This includes safeguarding of check stock for business checking account
as well as access and security to online banking and payment portals.
Subsection (b) Recordkeeping. The Business Team is responsible for
record keeping as well as safeguarding of financial information for the cooperative. The support documents should be kept on retention for no
fewer than 7 years.
Section 3 Expenditure Procedures.
Subsection (a) Expenditure Procedures. All expenditures shall be
approved by the board and signed off by the Treasurer prior to incurring
the expenditure. All expenditures shall be coded by account number
using the co-operative chart of accounts.
Subsection (b) Standard Accounting Records. The Business Team
shall maintain standard accounting records containing all aspects of cooperative financial operations. These include but are not limited to a
general ledger and a check register. As the co-operative grows, registers
(such as payroll) will be added to accommodate the growth.
Subsection (c) Reimbursements. An expense reimbursement request
form shall be prepared and submitted to the Treasurer along with the
invoice. Upon payment of the bill or reimbursement, the check number
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and date shall be printed on the form and submitted to the Business
Team for recording and file retention.
Subsection (d) Paid Invoices. Paid invoices shall be filed alphabetically
according to company/individual name and shall be kept on a fiscal year
basis on file.
Section 4 Financial Statement. [reserved]
Section 5 Signature Policy. To safeguard the assets of the co-operative, all
checks will be signed by both the Treasurer and the Secretary.
Section 6 Organizational Filing.
Subsection (a) Tax and Organizational Filings. The board is
responsible for the oversight of co-operative tax filings (state and federal)
and annual organizational filings with the State of Oregon.
Subsection (b) Tax Year. The board will decide on the tax year for the
co-op to ensure that the tax filing is in compliance. The tax year will be
April 1 through March 31.
Subsection (c) Tax Preparation. The Business Team will either engage
or prepare the tax filing for board approval.
[History: Finance Policy created 7/17/14 by Sub
1. To Res. Adopting Policies of the Montavilla
Food Co-op; effective 7/29/14]
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