KENTUCKY GOVERNMENT FINANCE OFFICERS EDUCATIONAL FOUNDATION

BY- LAWS

ARTICLE I – NAME

The name of this foundation shall be Kentucky Government Finance Officers Educational Foundation.

ARTICLE II – PURPOSE

The purpose of this foundation shall be to promote the improvement of methods of government finance in Kentucky as developed and recommended by the Government Finance Officers Association of the United States and Canada (GFOA), and the Governmental Accounting Standards Board (GASB).

The objectives of this association shall include the following goals to support the missions of GFOA and GASB:

  • 1.     Development mutually understandable procedures of accounting, budgeting, and financial reporting;
  • 2.     Further the use of common terminology, classification, and principles in regard to those subjects;
  • 3.     Promote a policy in governmental units of having independent and internal conducted periodic audits;
  • 4.     Facilitate discussion and analysis of financial problems arising under the laws of Kentucky.
  • 5.     Encourage the recruitment and training of qualified public officials and employees;
  • 6.     Support the achievement of greater success in efficiency and service of government;
  • 7.     Foster closer relationships and understanding among those concerned with public finance in public jurisdictions of Kentucky; and
  • 8.     Explore other objectives of mutual interest to public financial management professionals.

ARTICLE III – MEMBERSHIP

Active membership may be held in the Foundation by any person who is eligible for GFOA active membership and is interested in the principles and practices of governmental finance and who subscribes to the purposes of this foundation. Active membership may also be maintained by members of other statewide professional organizations and the Board of Directors may grant reciprocity to those individuals.

ARTICLE IV – MEMBERSHIP DUES

Annual membership service fees shall be set annually by the Executive Board and shall be payable in advance. Any membership may be suspended from the foundation for delinquency in payment of service fees, after six months.

ARTICLE V – OFFICERS

Officers of this foundation shall include: a President, a President-elect, two Vice-Presidents and a Treasurer-Secretary. All officers shall be elected for a period from July 1st following the annual meeting for two years, except the Treasurer-Secretary who shall be elected for four years, and/or until their successors have been duly qualified. The President-elect shall be elected every two years and shall automatically become President the term following his or her term as President-Elect. Vacancies shall be filled by a majority vote of the Executive Board: the person selected shall serve during the remainder of the unexpired term of his/her predecessor. Duties of officers shall correspond generally to those duties that normally devolve upon such officers, unless such duties are specifically assigned by the Executive Board.

ARTICLE VI – EXECUTIVE BOARD

There shall be an Executive Board consisting of the elective officers, the immediate past president, State GFOA Representative, and two active members elected at large. It shall be the duty of the Executive board to transact the business of the foundation including policy matters, the arrangement of meetings as to time, place and program; to study all matters referred to it by the members of the foundation; and to perform such other duties as may be deemed to pertain to the advancement, welfare and the best interest of the foundation and its members.

 A quorum of the Executive Board shall consist of majority persons for the purpose of transacting business of the foundation.

ARTICLE VII – ELECTION OF OFFICER AND EXECUTIVE BOARD

Section 1. NOMINATING COMMITTEE. The President shall appoint, every two years, a nominating committee consisting of three persons, all active members in good standing, who are in attendance at the annual meeting. This committee shall select not less than one name from the membership in good standing as a candidate for each office and each place on the Executive Board which is to be filled at the annual meeting. Additional nominations may be made from the floor at the annual meeting by any active member in good standing, provided prior approval has been given by the person being nominated. Associate members shall be ineligible to vote or to hold office.

Section 2. ELECTIONS. The manner of holding elections, including the various forms to be used, the methods of voting, the counting of ballots and the rules of procedures pertaining thereto, shall be prescribed by the Executive Board.

ARTICLE VIII – ANNUAL AND SPECIAL MEETINGS

The foundation shall conduct two regular meetings each year. One meeting shall, include the business meeting for the purpose of electing officers and shall be held in conjunction with the Spring Training Conference in a place and time that shall be determined by the Executive Board. The second semi-annual meeting shall be held in conjunction with the Kentucky League of Cities annual meeting or the Kentucky Association of Counties at locations and dates determined by those organizations. The KGFOEF Executive Board shall determine which association annual meeting to attend each year. An appropriate notice shall be given to each active member at least 30 days prior to each regular meeting. Special meetings may be held upon the call of the President at such times as in his/her judgment s/he deems it advisable for the general welfare of the foundation, provided, however, that written notice shall be given to active members at least ten (10) days in advance of such meeting. At special meetings only those matters specified in the call may be considered.

ARTICLE IX – AMENDMENT OF BY-LAWS

These by-laws may be amended at any regular meeting of the foundation by a two-thirds vote of the active members present, providing that written notice of the proposed amendment has been given to all active members at least thirty (30) days before the meeting. In the absence of specific text in these articles as to the conduct of the affairs of the foundation, Robert’s Rules of Order (revised edition) shall prevail, as may be applicable in the premises.


Copyright © 2016. Kentucky Government Finance Officers Association. Hopkinsville, KY 42240

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