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500. FISCAL MATTERS
501. The fiscal year of the AAES shall be the calendar year.
502. Dues
(A) At the spring Business Meeting the Board shall present a financial plan and recommended dues structure for the following fiscal year. The Member Societies shall authorize the maximum dues assessment for each Member, Associate Member and Regional Member for the following fiscal year. Voting shall be in accordance with Article IV Section 2 of the Constitution.
(B) Societies in the Member and Associate categories may elect to pay dues, fees, and other assessments either annually or quarterly. Regional Societies shall pay annually.
(C) Services and support rendered to AAES by a Society shall not be considered as total or partial payment of the dues of that Society. AAES may contract with a Society for specified materials or services, and shall pay the Society in accordance with the terms of the contract.
503. Outside Contributions
(A) If judged by the Board to be proper for the advancement of the objectives of AAES, financial support may be accepted from any individual, corporation, foundation, governmental body, laboratory, or institution.
(B) Unrestricted financial support shall be credited to the general fund. Financial support restricted by contract, terms of a grant or other agreement shall be held in separate accounts to be used only for designated purposes.
504. The accounts of the AAES shall be audited and approved annually by a certified public accountant selected by the Board.
505. The Secretary/Treasurer shall advise the Board on the adequacy of surety bonds secured for those AAES officers and staff members responsible for financial affairs.
506. The AAES shall indemnify each person (or heirs, executors and administrators) made, and the AAES may in the discretion of the Board indemnify each person (or heirs, executors and administrators) threatened to be made, a party to an action or proceeding (other than one by or in the right of the AAES to procure a judgment in its favor), whether criminal or civil, by reason of serving or having served as member of the Board or member of a Committee, Commission, Task Force or an Officer, or employee of the AAES, or of another corporation or organization with which such person may serve or have served as such or as a trustee, at the request of AAES, or by reason or otherwise serving or having served as a nominee of the AAES, against judgments, fines, amounts paid in settlement and reasonable expenses (including attorney's fees actually and necessarily incurred as a result of such action or proceeding, or any appeal therein) provided that such a person acted in good faith for a purpose which is reasonably believed to be in the best interests of the AAES and, in criminal actions, had no reasonable cause to believe that the conduct was unlawful. Such expenses shall include the cost of reasonable settlement made with a view to curtailment of litigation. The foregoing right of indemnification shall not be exclusive of other rights to which any such person may be entitled as a matter of law.
507. Budgets
An annual operating budget in shall be recommended to the Board no later than the last Board meeting of each year. Each entity shall assist the Finance Committee in preparing the budget for its operations.