Reserve Fund Policy
WACUHO maintains reserve funds to provide for emergency or catastrophic expenses, and also to support new and ongoing programs and initiatives.
WACUHO has two types of reserve funds that can be used to enhance a current program or service – the Program Reserve Fund and the Association Reserve Fund. The WACUHO Executive Committee has the authority to approve allocations from reserve funds consistent with the policy outlined below.
The Program Reserve Fund has been created in an effort to give back to program committees that have been successful and contributed to the Association’s overall reserves. This reserve fund is only available to programmatic committees (zero-based program budgets, such as the Annual Conference and Exposition, RAPs, WTI, Conference Services, WoW, etc.). Program Reserves are funded through 50% of the annual surpluses experienced through programs sponsored by WACUHO when actual revenues exceed actual expenses. Program Reserves maintain a maximum balance of $15,000; $10,000 may be requested and utilized by programmatic committees to supplement their program budget and $5,000 is used to pay for our conference program application. The Program Reserve fund may be replenished each year up to the $15,000 maximum; any remaining surpluses are credited to the Association Reserve Fund.
The Association Reserve Fund may be accessed for one-time funding requests. If a committee wishes to continue the service or enhancement initially funded through an Association Reserve allocation, it must be incorporated into their operating budget, or the WACUHO operating budget, beyond the first year. Essentially, Association Reserves are not designed to be an ongoing funding source for a program or initiative. Association Reserves must maintain a minimum balance of $150,000; no funding requests may be authorized if such requests cause the Association Reserves to fall below this minimum threshold. Association Reserves are funded through actual revenue received to the operating budget which exceed actual expenses, by 50% of any year’s Program surpluses, and any remaining surpluses after the Program Reserve is fully funded.
Finally, the Executive Committee may recommend an allocation from Association Reserves to support the general fund budget as needed through the annual budget and as approved by the WACUHO membership at the annual business meeting.
Requesting Reserve Funds:
Following are guidelines for submitting a proposal for a new service/program or a proposal to enhance a current service/program:
Proposals must address a need to enhance or expand Association programs and services
Proposals must be of an educational or service nature
To apply for funding, complete the appropriate proposal form (see Appendix) and submit it to the Association Treasurer.
Review and Approval of Reserve Requests:
Each proposal is reviewed at the first Executive Committee meeting following receipt of the proposal or via e-mail or telephone if necessary. Proposals may be fully funded, partially funded, or not funded; and the Executive Committee’s decision will be forwarded to the funding requester as soon as possible after a decision is reached. If the proposal is approved at any level, funds will be available through the end of the current fiscal year (July 1 – June 30). Typically, funding or reimbursement will only be made for expenses incurred prior to June 30, and payment or reimbursement requests must be received by the Association’s Treasurer no later than July 1. Proposals may not include funding for alcoholic beverages of any kind.