Massachusetts Fire District 7
By-Laws

(Update: Jan. 27, 2005)

           ARTICLE V – FINANCIAL

Article V, Section 1.  Fiscal Year

            The fiscal year of District 7 shall be from July 1 to June 30.

Article V, Section 2.  Assessments

            Each member community shall be assessed a sum of money per year for the operation of District 7. The amount of the annual assessment shall be determined by a recommendation of the Budget Committee and E-Board.  Approval of the assessment
will be by majority vote of the membership at the November meeting. The Treasurer shall bill each community during the month of July with payment due by November 30 each year.

Article V, Section 3.  Budget

            The Budget Committee and E-Board shall prepare a budget of expenditures for each fiscal year and said budget shall be submitted for approval to the membership at full membership meeting in May.

Article V, Section 4.  Disbursment of Funds

            Funds of District 7 will be held by in an account established for this purpose by the Treasurer and approved by the E-Board. Disbursement of funds will be by voucher approved as follows:

A.     Budget items – Signature of Treasurer

B.     Non-Budget items – Signature of the Treasurer, and co-endorsed by an Officer of District 7, for sums up to $300.00   Sums over $300.00 requires approval of the E-Board at their next regular meeting.

Article V, Section 5.  Annual Report

            An annual report outlining the activities for the year and containing the year end fiscal report shall be prepared and distributed to the members no later than the August following each year’s end.