Governance

NPPA Policies & Procedures

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Membership

Membership Definitions

Professional Membership
Individuals who are working or aspiring towards working in the field of visual journalism. This includes those who work in still photography, video, multimedia, audio, design, editing, managing, producing, teaching, writing, reporting, or visual journalism on the Web. Professional members of the NPPA may work for an organization or institution, or may be self-employed.
Family Membership
In families with more than one NPPA member, a second membership may be purchased in conjunction with a fully paid Professional Membership at the same residential address. This membership provides both individuals with all of the privileges and benefits of a Professional Membership, but only one copy of News Photographer magazine will be mailed to the home.
Student Membership
Individuals enrolled at least 9 hours at an accredited school who are studying or aspiring towards the field of visual journalism.
Retired Professional
Membership Individuals who are retired, and are no longer doing part-time work or earning an income from journalism. Membership in NPPA Retired Division will not count towards eventual Life membership.

Membership Dues

Application for membership must be submitted to the national office with the first year’s dues. NPPA dues run for 12 months from the payment processing date. Qualification for membership, as well as the classification of membership, is subject to approval. Questions may be referred to the Membership Committee or Judiciary Committee as appropriate.

Elections

Eligible voters include all active professional members and student members. Rules pertaining to NPPA elections, in addition to those specified below, will be posted on the NPPA Web site.

Election of the Elected Board Members

All Elected Board Members shall be elected for a term of three (3) years. Each year, two (2) positions on the Board of Directors shall come up for election. The national membership shall be notified in April of the opening of nominations for the Board of Directors by any suitable means, including publication on the NPPA Web site. Such notice shall include August 31 as a deadline for nominations. Nominations shall be received by the National Secretary and Governance Committee, who shall supervise all election activities. They shall verify the eligibility of the nominee. To be eligible for election to the Board of Directors, a member must be a NPPA Professional Member in good standing for at least one year prior to being nominated.

Candidates are entitled to submit a photograph and biographical material, which shall be posted on the NPPA Web site in September. Candidates should be aware of the availability of specialized mailing labels, which consist of the names and addresses of all NPPA members who are eligible voters. Requests for labels should be made to the national headquarters. Candidates are encouraged to write a campaign letter, but no NPPA postal permit shall be employed in the mailing of campaign literature. It should also be noted that regional publications often seek position papers and a history of each candidate running for office.

Election of the Elected Board Members shall be held during November of each year and shall be conducted by secret mail ballot and/or secret electronic ballot. The Governance Committee, with the help of the Executive Director, shall prepare and distribute the ballots with the names of all eligible candidates, as well as blanks for write-in candidates. Ballots shall be sent by mail or electronic means to the last known address of each eligible voter on November 1. To be counted, a ballot must be received by the National Office on or before November 30. The Executive Director shall count the ballots and notify the Governance Committee of the election results.

The two candidates receiving the highest plurality of votes cast shall be elected as the Elected Board Members. In the event of a tie, the ballot in its entirety shall be retaken. Each Elected Board Member shall be declared elected December 1st, and shall assume duties January 1st, to hold office until a successor is elected and qualified.

Election of National Officers

The National President and Vice-President, who serve one-year terms, shall be elected at the annual meeting of the Board of Directors. The National Secretary, who serves a two-year term, shall be elected at the annual meeting of the board in even-numbered years. The National Treasurer, who serves a two-year term, shall be elected on the odd-numbered year. The Regional Chair Representative shall be elected from the Regional Chairs and serve a one-year term. In the event a President is re-elected, the Immediate Past President would then serve another term. Should the Immediate Past President opt not to serve another term, nominations would be opened for another Past President to serve the term instead.

Nominations for national officers shall be accepted from the floor by members of the Board of Directors.

Election shall be by plurality vote on a secret ballot. All vote tallies will become part of the records of NPPA. The President shall appoint a pollster to collect and count all secret ballots at the Annual Meeting [as described in Bylaws]. This person shall not be a voting member of the board, a national officer or candidate for office. The ballots and results shall be presented to the National Secretary. A member of the board who cannot be present for the balloting for national officers may present his/her verified secret ballot in advance to the pollster or to the National Secretary for forwarding to the pollster.

Election of Regional Officers

All Regional Chairs and Associate Regional Chairs shall be elected for terms of two (2) years. Election of officers for the even-numbered regions shall be held in even-numbered years. Elections of officers for the odd-numbered regions shall be held in odd-numbered years.

In election years, the regional membership shall be notified in April of the opening of nominations for Regional Office by any suitable means, including publication on the NPPA Web site. Such notice shall include August 31 as a deadline for nominations. Nominations shall be received by the Governance Committee, who shall verify the eligibility of the nominee.

To be eligible for election to Regional Office, a member must be a NPPA Professional Member in good standing for at least one year prior to being nominated.

Candidates are entitled to submit a photograph and biographical material, which shall be posted on the NPPA Web site in September. Candidates should be aware of the availability of specialized mailing labels, which consist of the names and addresses of the eligible voters for a given Region. Requests for labels should be made to the national headquarters. Candidates are encouraged to write a campaign letter to their constituency, but no NPPA postal permit shall be employed in the mailing of campaign literature. It should also be noted that regional publications often seek position papers and a history of each candidate running for regional office.

Election of the Regional Officers shall be held during November of each year. The National Secretary with the Governance Committee shall prepare and distribute the ballots with the names of all candidates, as well as blanks for write-in candidates. Ballots shall be sent by mail or electronic means to the last known address of each voting member in the region on November 1st. Elections shall be open 30 days. The National Secretary with the Governance Committee shall count the ballots and notify each candidate, the National Officers and the region of the results of the elections.

Each Regional Officer shall be declared upon completion of the election and shall assume duties January 1st, or 30 days after the election, whichever is later, and hold office until a successor is elected and qualified.

Duties of Board of Directors, National Officers, Executive Committee, Executive Director and Regional Officers

All Board Members and elected officials shall be sworn in by taking this oath of office: "I do hereby pledge myself faithfully, to perform to the best of my ability, the duties of my office as prescribed in the bylaws of this association."

Duties of the Board of Directors

Duties of the National President

Duties of the National Vice President

Duties of the National Treasurer

Duties of the National Secretary

[Passed as amended.]

Duties of the Immediate Past President

Duties of the Regional Chair Representative

Duties of the Executive Committee

Duties of the Executive Director

Duties of the Regional Chairs

Duties of the Associate Regional Chairs

Committees

Program Committees

Program Committees may be established to run specific workshops and programs of the NPPA. The chair of each Program Committee serves on the National Program Committee. Each Program Committee may establish its own Standing Rules for the conduct of its business, as long as such Standing Rules are consistent with the NPPA Bylaws and NPPA Policies & Procedures. Chairs are appointed by the president and serve at the pleasure of the president.

The Chair of each Program Committee will be responsible for maintaining a file containing the minutes of each meeting that will be available upon reasonable request to Committee members and the Board of Directors, including the Executive Committee. The Chair of each Program Committee shall submit a written report of Committee activities, in conjunction with the National Program Committee, to the Board of Directors prior to the Annual Meeting.

All Program Committees that are empowered to handle NPPA monies are required to submit a financial report at the conclusion of each project and at the request of the Executive Director. All unbudgeted expenses incurred by any Program Committee must have previous approval from the Executive Committee.

Program Committee Chairs shall insure that the NPPA name and logo appear on all published matter under their control. Program Committee Chairs shall also insure that information about how to become an NPPA member shall be included in all NPPA-generated promotional materials and be made available at all NPPA-sponsored events.

Regional Committees

Regional Committees shall perform duties within the Regions comparable to the duties of the corresponding National and Program Committees and under the direction of the Chairs of the corresponding National Committee. Chairs of Regional Committees shall make a report of their activities to the Regional Chair upon request.

Chapters

All NPPA Chapters shall be subject to the following rules.

Professional Chapters

Before application of a Professional Chapter charter can be processed, the applying organization must have a minimum of 50% of its membership be members of NPPA in good standing, committed as members of the proposed chapter. Existing chapters that fall below NPPA membership minimum will be given one year to attain the necessary members. Chapters not maintaining a minimum of 50% NPPA members will not receive annual funds.

Professional Chapter offices shall be President, Vice President, Secretary and Treasurer. Chapter Presidents and Vice Presidents must be NPPA Professional Members in good standing. Other offices may be as provided by the Chapter's Bylaws. Chapter Committees may be provided as necessary. Chapter Officers shall be sworn in by taking an oath of office similar to that prescribed for NPPA Officers.

The Executive Director will grant an annual stipend, upon application in writing, to any NPPA Chapter in good standing. This request must specify how the funds will be used. This stipend will be in the amount of $2 per NPPA member or $400, whichever is greater. This stipend will be granted once per year per Chapter. The Executive Director will report all requests by Chapters to the Treasurer as part of the NPPA budgeting process. The application is due to the National Office by Oct. 1 each year.

An annual report of progress and activity of each chapter must be received by the Chapters Representative sixty (60) days prior to the Annual Meeting in order that a chapter will remain in good standing. This report must include a listing of officers and their terms in office; the names and NPPA numbers of all chapter members; the identification of newly enrolled members and other information that may be required.

Chapters that fail to carry out membership requirements shall be declared not in good standing by the Chapters Representative.

The Chapters Representative shall compile the information in the chapter reports into a summary report to the Board of Directors. If a chapter is declared not in good standing and wishes to appeal that declaration, the chapter must notify the Chapters Representative, and decision on the appeal will be made at the Annual Meeting.

Dues charged by any Chapter will be in addition to NPPA dues. All monies due NPPA collected by the Chapter Treasurer or other officers shall be forwarded to the NPPA without delay.

Student Chapters

Student Chapters may be formed on college and university campuses. Chapter activities and elections shall be under the direction of a Professional Member in good standing of the NPPA. Student Chapter Members shall be NPPA Student Members in good standing. The Student Chapters shall derive funds from individual assessments and projects.

Student Chapters in good standing with a minimum of five (5) NPPA members shall receive a stipend of $100 plus $20 per NPPA member to a cap of $400 per Student Chapter. Funds will be distributed upon receipt of a satisfactory annual report. The report, with funding request, is due to the National Office by Oct. 1 each year.

A Student Subcommittee shall be a part of the National Membership Committee.

Regional and Committee Property

Accountability and Transfer of Regional or Committee Property

Regional Chairs, Executive Committee Members, Program Chairs and Committee Chairs shall send a copy of any lease agreement, rental agreement or purchase order to the Executive Director with any request for payment of NPPA property.

Regional Chairs, Executive Committee Members, Program Chairs and Committee Chairs shall prepare and maintain a log of all property (non consumable) purchased, leased or rented for NPPA use or with NPPA funds, which shall include all original documentation and be filed with the Executive Director and updated on an annual basis.

The Executive Director shall be empowered to establish procedures necessary for the accountability and insurability of said property. Such procedures shall not inhibit the discretionary use of regional funds by Regional Chairs or committee funds by committee chairs, but shall be created solely for the purpose of accountability.

All expenditures from all budgets, officers, regions and committees must be submitted to the Executive Director within 90 days of the purchase, lease or rental date, with proper NPPA voucher approval, except that the 90 day time limit may be waived, but only under extraordinary circumstances, by appeal to the Executive Committee. No more than two waivers per person may be granted in a year.

Records

All records shall be governed by the following rules.

All outgoing Officers of the NPPA must turn over records of their office to their duly elected or appointed successor within twenty-one (21) days from the day of succession. Failure to comply shall result in the offending officer's membership in NPPA being terminated. In addition, a civil action may be instituted at the discretion of the national Executive Committee to recover the records in question and the offending Officer shall be responsible for the cost of such action.

All National Officers, National Board Members, Regional Chair Representative and Committee and Task Force Chairs shall submit an annual report to the Secretary for proper distribution to the Board of Directors prior to the annual meeting. All Regional Officers and Committee Members may be called upon to contribute to reports as appropriate.

Special Programs and Projects

The Special Programs and Projects of NPPA are

During initial planning stages of any NPPA event, a Regional Officer in the region concerned must be contacted by the Program Chair.

Sexual Harassment

The NPPA takes the following position on sexual harassment.

The National Press Photographers Association is committed to providing its employees a workplace that is free from harassment, in any form. In furtherance of this goal, the National Press Photographers Association will not tolerate harassment of National Press Photographers Association employees or volunteers in any form. Employees, Directors, Officers, Regional Officers or volunteers engaging in such conduct will be subject to disciplinary action, which may include termination.

Harassment can take many forms, and may be, but is not limited to: words, signs, jokes, pranks, intimidation, physical contact, or violence as it relates to race, national origin, religion, age, disability, sex or any other classification protected by local, state or federal laws. Sexual harassment towards an employee or volunteer may include unwelcome sexual advances, requests for sexual favors, stalking, other verbal or physical contact of a sexual nature (including brushing against or tickling an employee) when such conduct creates an intimidating environment, prevents individuals from effectively performing the duties of their position, or when such conduct is made a condition of employment or compensation, either implicitly or explicitly.

Finally, any conduct of a sexual nature (including, without limitation, sexually abusive, vulgar or offensive language) that interferes or could interfere with an employee's performance, or creates, or could create a working environment that is intimidating, hostile or offensive to an individual employee, or to employees, is prohibited. Each employee is personally responsible for ensuring that his/her workplace is free from harassment in any form.

An employee who believes that he/she has been the subject of any form of harassment by anyone, including members of the association, Directors, Officers or volunteers, should report such conduct to his/her immediate supervisor, the Executive Director, or any member of the Judiciary Committee. It is the responsibility of all employees to report harassing conduct so that the National Press Photographers Association can take appropriate action. The National Press Photographers Association will investigate all reports of harassment or sexual harassment promptly and will keep the identity of the individual making the report and all aspects of the report and investigation confidential to the greatest extent possible. The National Press Photographers Association will take appropriate action to remedy substantiated complaints.

Employees should rest assured that the National Press Photographers Association will not take any action, nor will it permit any action to be taken by its employees, in retaliation or reprisal for reports of harassment or sexual harassment that are made in good faith.

Honors and Recognition

The honors and recognitions of this association are

Any person or organization may submit a candidate for consideration.

A special "Legion of Honor" certificate of the NPPA showing the name of the individual and proper wording to honor the person and his/her dedication to news photography, along with the proper basic facts, will be presented to closest surviving relative.

Planning Calendar

Conflicting dates can be catastrophic to an otherwise well-planned NPPA event. Vendors and registrants can't go to two events at the same time. It is therefore crucial that NPPA events not conflict with one another and with events outside our organizational control that may have a major impact on our programs. To this end, NPPA has established a planning calendar that is maintained by the Executive Director and the National Program Committee Chair and is available on the NPPA Web site.

The National Program Committee Chair assigns events on a first-come, first-served basis. Tentative dates (within reason) may be reserved. The Executive Director will contact key individuals (such as key vendor representatives, fellow journalism organizations, journalism education organizations, etc.) outside our organization on a routine basis to ensure that the calendar contains timely information.

Those planning NPPA events should consult with the National Program Committee Chair when selecting a date for the event in order to avoid scheduling conflicts. No contract should be signed on behalf of the NPPA without first consulting with the Executive Committee and the Executive Director.

Copyright and Licensing

Because much of the material published by various committees, regions and offices of NPPA, including the NPPA Code of Ethics, is seen by people outside the organization, a notice should be included in all substantial printed materials such as regional publications and informational booklets. Such notice should be similar to the following:

“The National Press Photographers Association is an educational organization dedicated to the advancement of visual journalism. Membership is open to professional visual journalists and others whose occupation has a direct professional relationship with visual journalism. Material contained in this publication may be reprinted, recreated or electronically distributed with written permission from the NPPA and an appropriate credit. For more information, contact the NPPA at 3200 Croasdaile, Suite 306; Durham, NC 27705; director@nppa.org. ©2009 NPPA”

Purchase of Alcoholic Beverages

The NPPA shall not pay for nor reimburse the costs of alcoholic beverages except where such cost is reimbursed to the NPPA.

Expenses

Reasonable travel, lodging and meal expenses are normal to conducting the business of NPPA. Individuals submitting travel expenses, however, should use the utmost care to get the lowest prices possible when arranging airfares, hotel accommodations and restaurants. NPPA encourages its officers, members, speakers and guests to make travel reservations as early as possible and to use the NPPA travel agent to avoid excessive travel expenses. Committee chairs should submit an official list of those traveling to an event, workshop or meeting at NPPA expense to the Executive Director well in advance of the workshop. The Executive Director will pass a copy of the list and committee chair travel guidelines along to the travel agent so each individual can make their own travel arrangements with the travel agent.

General Travel Rules

NPPA will not pay for expenses not directly related to the travel itself, such as onboard drinks, movies, in-room mini-bar services, in-room movies, etc. NPPA will not pay for duplicate travel tickets or upgrades. NPPA will not pay for last-minute changes without appropriate approval in advance. Intercity car rental cost is acceptable only if it is less than or equal to the cost of a discounted air or train fare to the same destination. In the case of a car rental that exceeds such a discounted fare, NPPA will pay no more than the cost of the discounted fare. Intra-city car rentals must be approved by the Executive Committee in advance.

Taxicab fares are allowed, though lower cost travel (such as shuttle buses) is encouraged. Voucher submissions for group ground transportation must include the names of all members of the group.

It is acceptable for regional officers to travel within their region to regional seminars or to other functions on strictly NPPA related business, such as combined regional seminars in which their region is a cosponsor. Travel outside their own region will not be paid except with advance approval of the Executive Committee.

NPPA will reimburse for hotel rooms and tax only. Volunteers and staff traveling at NPPA expense should endeavor to keep hotel costs to a minimum. Additional room costs for a spouse, significant other or child on the trip (who is not officially there on NPPA business) are the personal responsibility of the NPPA member or guest. NPPA will not pay for hotel room telephone bills incurred by officers, members and guests unless they are specifically related to NPPA business.

NPPA will not pay for in-room movies, laundry, room service unless approved in advance either through the budget process or by the Executive Committee in advance.

The NPPA will reimburse meals eaten on official NPPA business trips according to the following per diem schedule. NPPA will reimburse individuals for meal costs up to the per diem rate from receipts attached to an expense voucher. NPPA encourages people traveling at NPPA's expense to keep meal costs down. Committee chairs may submit an individual per diem rate for their project/workshop as part of the annual budget process. The per diem rate is $40.00 as of June 10, 2009.

Acceptable Office Expenses

Reasonable office expenses directly related to the business of NPPA are always allowable.

Normal office supplies such as pens, pencils, paper, file folders, paper clips, computer paper, toner cartridges, etc. Unusual, specialty items must be approved by the Executive Committee in advance. Printed stationery and envelopes are not allowed, as these are provided by the national office.

Normal, routine postage costs, such as stamps and metered postage. Postage for personal NPPA election campaign material will not be paid.

Reasonable use of delivery services, whether the U.S. Postal Service or private delivery firms. Though it is up to the discretion of the officer or chair to determine the most efficient method of delivery, each should keep in mind that the lowest cost for the purpose as opposed to the highest convenience should always be chosen.

Members are encouraged to use the most effective and cost effective means of communication available to them. Communications charges deemed excessive by either the Executive Director or the Finance Committee must be approved by the Executive Committee before they are reimbursed.

Acceptable Communication Expenses

Members are encouraged to use long-distance telephone calls conservatively. Landline equipment for long distance calls is encouraged. If cellular phones must be used in an emergency, NPPA will pay long distance charges and associated taxes only, not airtime charges. Cellular expenses must be supported with a copy of the bill and an itemization showing to whom the communication was made.

Electronic mail and online charges, either through an online service or through a direct Internet provider. Itemization may not be possible in some cases (i.e., e-mail charges are not broken down), but submitted bills must be reasonable for the level of NPPA business conducted. For example, if only about 10 percent of a person's e-mail is for NPPA business, that person may submit a voucher each month for 10 percent of the cost or may submit a complete voucher once every 10 months.

Program Expenses

The sponsorship of a workshop or seminar to educate and professionally stimulate members is very important activity, both within a region and on the national level. Expenses for workshops can encompass a wide variety of areas and these guidelines are by no means all inclusive.

Committee and Program Chairs should designate one person as the sole individual empowered to authorize expenditures at their event. This will ensure all requests for complimentary registrations, hotel rooms, meals and other fees associated with NPPA activities are cleared according to the guidelines of the local event committee. Expenses made by staff members must be approved in advance by the local individual or individuals in charge of the workshop/seminar's financial operations. These advance approvals may not necessarily be for specific amounts, but the intended use of the funds must be approved. All staff and guests should be informed of these guidelines before making a commitment to attend.

Acceptable Event Expenses

Rental of a facility in which to hold the workshop. All contracts for facility rentals must be drawn up with the cooperation and approval of the Executive Director.

Travel and lodging expenses of appropriate staff members and guests of the workshop. This includes the core workshop staff, appropriate speakers and others deemed necessary by the workshop chair. General travel expenses must conform to the guidelines described above.

Meals directly involved with the operation of the workshop/seminar. The cost of meals up to the established per diem rate will be reimbursed when submitted with original receipts attached to an expense voucher form. Reasonable costs of alcoholic beverages with a meal will be paid if itemized on the NPPA expense form. Officers or staff paying for a group meal must include a list of those attending the meal and the total must be within the total of all guests' allowable amounts. Meals charged to a workshop/seminar's budget must be approved by the workshop/seminar chair or the appointed designee for the conference. Other alcohol service will follow the NPPA alcohol policy.

Normal office expenses directly related to the workshop or seminar. These expenses must conform to the guidelines listed above.

Rentals of office equipment (such as computers, printers and copiers), insurance, security and onsite photocopying.

Advertising expenses for the workshop/seminar, including but not limited to: printing costs for fliers, insertion expenses in appropriate publications and reasonable postage costs.

Hospitality suites maintained by the workshop staff, either for staff/guest use or for workshop participant use, provided the hospitality suite conforms to NPPA requirements listed elsewhere, particularly with reference to the NPPA policy on alcohol.

Reasonable miscellaneous expenses not mentioned here and directly related to the workshop/seminar will be approved at the discretion of the Executive Committee in coordination with the workshop/seminar chair.

Registration fees for those volunteers who provide substantial service to the event or who serve as invited program speakers may be waived or reimbursed by NPPA. The local event chair or designee determines who qualifies for a complimentary registration through substantial service. NPPA event coordinators may not exempt volunteers from registration fees for service in previous years. Registration fees for national NPPA officers will be waived or paid by a local program when the officers are attending an event on official NPPA business. For the NPPA annual meeting, the Executive Committee shall determine which of the national committee chairmen may attend the annual meetings with expenses paid from national funds.

For reimbursement of acceptable expenses as explained above, expense vouchers must be submitted within 30 days after the expense is incurred. Any expense submitted after 30 days may be approved by the treasurer if the expense is less than $500 and falls within the budget, otherwise the expense must be approved by the executive committee. A rejected expense report may be appealed to the EC. Any expense submitted after 90 days shall not be paid without a 2/3-majority vote by the Board of Directors.

All event Chairs shall provide a complete accounting of the event within 60 days of the event. All expenses and income, including that to be billed shall be included in the reports. Any expenses not yet billed by a vendor shall be noted in the report along with an estimate of that expense.

Capital Expenditures

Capital expenditures are for property such as computer hardware and software, fax machines and copiers, and generally are not an acceptable expense. However, capital expenditure requests may be submitted to the Board of Directors as part of an annual report. Such requests are due to the Finance Committee chair 90 days prior to the close of the NPPA fiscal year and must include a detailed breakdown of costs and a full justification for the purchase. All capital expenses must be made in NPPA's name and billed to the national office. In emergency cases, appeals may be made to the Executive Committee for consideration.

To keep track of NPPA-owned equipment in the field, the Executive Director maintains a property book containing the original invoice of all NPPA-owned, leased and/or rented property. Any NPPA member wishing to use NPPA equipment (either purchased originally or transferred from another member) must sign a property transfer form available from the Executive Director. This form shall be filled out and sent to the national headquarters for insertion in the NPPA property book. As part of their annual report, members of the Board of Directors and committee chairs shall review property book listings as provided by the Executive Director and shall update all property transfer forms under their control.

Insurance

Program and Committee Chairs are charged with the responsibility of making sure any equipment in use at a workshop is properly insured. Individuals using non-NPPA equipment. even when on official business, are solely responsible for their equipment. NPPA does not insure personal equipment nor does it pay for the repair of personal equipment. If the use of personal equipment is deemed absolutely necessary for a workshop, the Program Chair will be charged with making sure that equipment is insured at NPPA expense and will include the cost of that insurance as part of the budget expense for the Program.

Cash Advances

Advances are designed to prevent an officer or Program Chair from having to pay sizable monies out of pocket for authorized expenses. For advances, a signed voucher (marked "advance") must be submitted before the purchase, and another voucher, with the original receipts and the advance noted, must be submitted after the purchase. Members are allowed only one advance at a time. Additional advances will be issued only after there is a full accounting for the first advance.

Whenever possible with established vendors, officers or chairs should have the vendor submit a statement made out to NPPA. That statement should be forwarded with a signed voucher to the Executive Director, who will pay the invoice directly. Printing of regional publications and similar activities should be handled in this manner, and not through an advance.

To facilitate closing the fiscal books in any year, advances against a budget line that are not cleared by the end of the fiscal year will be charged against that national budget line for the following fiscal year.

Investments

The Board of Directors of the NPPA has established this investment policy and accompanying guidelines to aid in the overall administration of the association's investment funds. Funds available for investment shall be defined as all cash not required for immediate distribution or working capital to fund daily operations of the association. The guidelines do not preclude the use of a single depository bank or major financial institution for on-going cash activities, although at times funds in the depository bank may temporarily exceed federally insured limits.

The board seeks preservation of capital with a consistent positive return for the fund.

Investments will be diversified with a minimum of 60% of portfolio assets invested in marketable fixed-income securities and a maximum of 40% in equity securities. Except for Treasury Agency and U.S. Government insured securities, no more than 15% of a portfolio shall consist of securities of a given issuer as measured by market value. Ratings for all fixed-income and equity securities are based on ratings given by Moody's, Standard & Poor's and Value Line. Where an equity security is not rated by Moody's or Standard & Poor's, Value Line may be used. This service rates securities as to investment quality and financial strength.

Allowed securities

Marketable fixed-income securities that fall into one of the following categories

Amendments

These Policies and Procedures may be adopted, amended, altered, repealed or superseded, either in whole or part, by a majority vote of the Board of Directors.

All amendments shall become effective upon the adoption by a majority vote of the Board of Directors, or on the date as otherwise provided for in the resolution.

(Note: Document as amended by NPPA Board of Directors 2009.)

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