North Channel Yacht Club Membership Roster 2022

deemed to be a significant threat to the Club’s assets and ongoing operations. Disbursements from the fund will not exceed 50% of the balance at any one given time. The Board of Directors may decline any gift, bequest, or contribution that it determines is not in the best interest of the Club. The Club Treasurer will report fund transactions and balances along with the periodic Club Treasurer’s Report. The Board of Directors must request disbursement of funds from the Cash Reserve & Major Capital Expenditure Fund Committee and the Committee must determine that the request meets the requirements for disbursement as outlined above before approval. Revised: October 2021

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