Non-Profit Training Saturday March 1

Fellow HHSC'rs
 
Below are questions that I've complied for our training session next Saturday.  
I tried to maintain the essence of the questions while reducing duplication 
among similar questions asked by multiple people.  These will be forwarded to 
our instructor today.
 
This is also another plug for the training.  So far I've received replies from 
13 members other than board members who plan to attend.  If this list of 
questions inspires more questions out of you, please reply.  Also, if my 
persistence is convincing you to attend, please send me an email by Wednesday.
 
Thanks,
Jim
 
 
HHSC Non-Profit Training Questions  3-1-03
 
Financial information to the General Public
1.         What financial information is required to be given to the general 
public?  
2.         What format and timeliness is required for its presentation?
3.         How should specific requests for information be dealt with?
 
Financial information to the HHSC Club Membership
4.         What financial information is required to be given to the club 
membership on a regular basis (detail, format, monthly, quarterly, annually).
5.         What are typical "best practices" for financial disclosure to 
memberships?
6.         What financial information should be made available to club members 
upon request?  
7.         What procedures should be developed to handle such requests?
 
Financial information to the HHSC Board of Directors
8.         What financial information is required to be given to the HHSC Board 
on a regular basis (detail, format, monthly, quarterly, annually).
9.         What are typical "best practices" for financial disclosure to Board 
members?
10.        What financial information should be made available to Board members 
upon request?  
11.        What procedures should be developed to handle such requests?
12.        What specific actions is the Board required to take regarding 
financial activities (motions on accepting financial reports etc.)
13.        Does the board have the authority to restrict anyone from giving 
HHSC financial information to people outside the corporation?
14.        What HHSC financial information is considered "private"?
 
Other Financial Questions
15.        How should we account for the Junior Organization's finances since 
they use HHSC's tax exemption?
16.        Do we have to (or should we) have an annual financial audit if we do 
not meet the legal requirement to do so?
17.        Currently the aircraft fleet is maintained on the books at market 
value.  This results in a qualified opinion from our auditors since we do not 
depreciate them.  Should we be doing something different with asset 
depreciation?
 
Conflicts of Interest
18.        Some board members and club members also hold positions as HHSC 
employees, licensing/inspection officials and vendors.  How should the 
organization manage these three types of conflicts of interest?
19.        Can anyone who is a board member (or even HHSC member) perform work 
for HHSC for compensation as long as the potential conflict of interest is 
known and understood by all board members and as long as we have some assurance 
that the price is fair?
20.        Should members of these three groups be restricted from serving as 
board members?
21.        What are "best practices" for managing conflicts of interest?
 
Other Questions
1.         Suggested procedures for addressing, reporting and maintaining 
anonymity to received written grievance reports.
 
2.         When does liability for actions as board members cease?  Upon 
resignation from the board or do decisions made while I was a board member 
follow me forever?
 
James E. Webb, Ph.D.
Senior Product Engineer - Components
Photonic Technologies
Corning Incorporated
SP-BN-01
607-974-1890
 


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