9.1. SR 11-16-2015 - Laserfiche WebLink

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ARTICLE V FUNDS SECTION 1. —Funds. All money received by the Association shall be kept in two separate funds. Disbursements from the funds shall be in accordance with Minnesota Statutes and the bylaws for the Association. SECTION 2. —General Fund. One fund shall be called the General Fund to which shall be credited all monies received by this Association from fines, entertainment revenues, and other miscellaneous sources not mandated by law or these bylaws. Funds may be disbursed by the Board of Trustees for any purpose reasonably suited to the welfare of the Association and its members. SECTION 3. —Special Fund. The Special Fund shall be credited with all fire state aid money received pursuant to state law, all revenues received from the city pursuant to state law, and money or property donated which is specified for use for the support of the Special Fund, and any interest earned upon the assets of the Special Fund. Disbursements from the Special Fund shall not be made for any purpose other than one of the following: a) Payment of members service pensions in accordance with state law and these bylaws; b) Payment of ancillary benefits in accordance with state law and these bylaws; c) Administrative expenses as authorized pursuant to Minn. Stat. 69.80, i.e. office expenses, salaries of the President, Secretary or Treasurer, educational expenses of the trustees, audit and legal expenses, insurance expenses, expenses of officers related to the responsibilities as administrators of the Special Fund. All other expenses of the Association shall be paid out of the General Fund. SECTION 4. Deposits. All money belonging to this association shall be deposited to the credit of this association in such banks, trust companies, or other depositories as the trustees may designate. The Board of Trustees shall make deposits in conformance with State Statutes and the bylaws. SECTION 5. Dispursements. No disbursement of the funds of this Association shall be made except by checks drawn by the Treasurer and countersigned by either the President or the Secretary. Except when issued for pensions and other fixed charges, the exact amount of which has been determined by the Board of Trustees or the members, no check shall be issued until the claim to which it relates has been approved by the Board of Trustees. SECTION 6. Nonassignability of Benefits. No member entitled to a service pension or ancillary benefit from the Association may assign any service pension or ancillary benefit payments, nor shall the Association have the authority to recognize any assignment or pay over any sum which have been assigned.