Budget

1. All disbursements shall be made in accordance with the budget of the Bureau as approved by the Core Committee and the Senate. This budget shall consist of the operating budget of the Bureau and speakership discretionary funds.

2. The operating budget of the Bureau shall be used for basic operating expenses of the Bureau, including, but not limited to, indirect cost recovery charges, compensation to Bureau members, publicity, and payments to individuals/organizations for work done assisting the Bureau in the development of speaking programs.

3. The speakers discretionary fund shall be allocated to specific programs and/or types of speaking expenses. This allocation shall be approved by the Core Committee and by the Senate. Specific speaking events shall be funded in accordance with this budget upon the approval of the Core Committee.

4. The Bureau may solicit funds from any source, except from the unrestricted funds of the Association (endowment, interest income, Business Project profit, indirect cost recovery charges), subject to the guidelines of the Association and the University. However, no funds may be accepted and used by the Bureau unless mention of them is made in the budget of the Bureau.

5. No disbursements shall be made by the Bureau to individuals/organizations for speakers and speaking events not developed and sponsored by the Bureau.

6. If an honorarium of $1000or more is to be paid to a speaker, the Director shall notify the Chair of the Senate. No payment shall be made to, and no contract shall be signed with, any speaker whose total compensation would exceed $5000without the prior approval of the Senate. A proposal to approve total compensation of more than $5000must also be accompanied by documentation showing that the speaker has received an honorarium in excess of this amount from at least one other source, unless this requirement is waived by the Senate.

   If the Chair determines that the Senate cannot meet in a timely manner to consider a proposed honorarium under the provisions of these By-Laws, then the Steering Committee of the Senate may act on behalf of the Senate in approving such a proposal.

7. The honorarium limit shall increase at the beginning of each fiscal year by the Consumer Price Index for the previous calendar year, with 1994 to be considered the base year at which $5000is the limit.

8. All events organized or financed (in whole or in part) by the Bureau shall be open to all members of the Association without charge, except with the prior approval of the Steering Committee of the Senate and the Council of Presidents, or of the Senate.