Board Resolution ~ 08/13/1994

Concerning the Growth of Reserve

Resolution of the Board of Directors of the National Association of Criminal Defense Lawyers Concerning the Growth Reserve

August 13, 1994

WHEREAS the association has now adopted a new dues structure, and

WHEREAS the dues structure is intended to provide for the ordinary budget needs of NACDL for many years to come, and

WHEREAS the Long Range Plan calls for annual contributions to the fund reserve in an amount of not less than three percent of that fiscal year's budget and

WHEREAS the Long Range Plan calls for the steady growth of NACDL reserves so as to enhance the financial security and financial flexibility of NACDL,

NOW THEREFORE BE IT RESOLVED AS FOLLOWS:

Commencing in fiscal year 1995 all interest and dividend income earned from bank accounts and investment of all types shall remain part of the reserve, and

No part of the interest or dividend income, regardless of how earned, shall be used as current operating income, and all such funds shall remain within the reserves so that the reserves might be compounded annually. 

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