SECTION 379.1501. Fiscal Oversight and Accountability

The board of directors of a nonresidential center must:

(1) ensure that the center is operating in a manner that keeps the organization's mission and purpose focused, without becoming involved in day-to-day operations;

(2) hire the center's executive director;

(3) as a whole, or as delegated to the center's finance committee, regularly review actual revenue and expenditures and compare them to budgeted revenue and estimated costs;

(4) review and approve programs and budgets;

(5) maintain and comply with current organizational bylaws; and

(6) review and approve board policies for the organization's operation in accordance with the bylaws.

Source Note: The provisions of this §379.1501 adopted to be effective December 23, 2007, 32 TexReg 9335; amended to be effective September 1, 2013, 38 TexReg 4309