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ERMU Commission Policy—G.4i Financial Condition and Transactions <br /> 5. Not reallocate an amount greater than $500,000 among line items in the approved capital <br /> and operating budgets without prior approval by the Commission in the form of a budget <br /> amendment. <br /> 6. Advise the Commission of any financial transaction or event deemed by the General <br /> Manager to have a substantial impact on ERMU's financial condition. <br /> 7. Not take any financial action that violates bond covenants or otherwise jeopardizes <br /> ERMU's ability to obtain favorable bond ratings. <br /> 8. Not allow working capital and other designated reserves to fall below the levels <br /> established in the Financial Plan. <br /> 9. Make payroll and pay other financial obligations in a timely way. <br /> 10. Collect or otherwise resolve receivables. <br /> 11. Implement internal policies and procedures that comply and ensure timely accounting and <br /> reporting of financial condition and transactions in accordance with legal or regulatory <br /> requirements, and generally accepted industry practices. <br /> 12.Not acquire, encumber, or dispose of real property without approval of the Commission. <br /> POLICY HISTORY: <br /> Adopted Month, Day, Year <br /> Page 2 of 2 <br /> 39 <br />