Pursuant to the fact that Optimist International (a Missouri not-for-profit corporation) is a federation of member Clubs, and that its Districts are administrative divisions of the Corporation; in view of its legal and fiscal responsibilities in relation to its administrative divisions, and with due respect to state and federal revenue laws; the following procedure shall apply to the fiscal duties and responsibilities of District administrations and to the submission of the following to qualify for the District allotments from the General Fund of Optimist International according to the provisions of Bylaws Article VIII, Section 5B:
A certified statement of receipts and disbursements, and an accountability statement, including an analysis of all monies on deposit or invested in securities, supplemented by statements of receipts and disbursements on the conduct of (a) District conventions, (b) District meetings and conferences, (c) Oratorical Contests, (d) Junior Golf (e) Essay Contest and (f) Youth Clubs. Such review shall be performed by an independent Certified Public Accountant, a Certified Managerial Accountant, a Certified General Accountant, a Chartered Accountant, or a review committee, as of 30 September each year.
An Independent Review Committee will be a committee of at least three people who have either a professional background in a financial field and/or experience as a secretary/treasurer at either the Club or District level. The members of this committee should not be a district officer or secretary/treasurer currently or in the preceding Optimist Year or any other persons with signatory authority of the District accounts for those years. These members should also not be a business partner, marital partner, romantic partner, parent, sibling, child, step child, step- parent, or in-law of any District officer or secretary-treasurer of the current or immediate proceeding year or any other persons with signatory authority of the District accounts for those years. It is suggested that this be a rotating committee appointed by the Governor each year and the committee is approved by the District's Board of Directors.
All statements of receipts and disbursements, budgets and supplements thereto, shall be prepared and submitted in the form and manner of and shall correspond with the Standard District Chart of Accounts, and the numbers and definitions of those accounts, provided by Optimist International.
Applicable to the United States, a copy of completed Internal Revenue Service Form 990, which form must be filed with Internal Revenue Service not later than 15 February following the close of each fiscal year. This requirement shall also apply to Clubs in Canada where applicable.
Evidence of the regular use of the standard District Expense Voucher form provided by Optimist International.
As part of the fiscal duties and responsibilities of District administration, each District shall adopt a set of District Policies at the District’s annual convention, or at a specially called convention. All District Policies shall follow the Optimist International model district policies, and shall be delivered to the Executive Director of Optimist International in hard copy or electronically within 30 days following adoption by the District. After approval by Optimist International, a District should review its District Policies at least annually. If the District amends the District Policies, the amended policies shall be forwarded to Optimist International within 30 days following the amendment, with all changes highlighted. No policy adopted by a District shall be in conflict of the International Bylaws, or the operating policies of Optimist International.
Signatories on District accounts shall not be members of the same family, household and/or business partners.