PROPOSED BY-LAW AMENDMENTS

At its October 2014 meeting, the Executive Committee voted to propose to the membership that three amendments be made to the Society’s by-laws. The amendments, if approved by the membership at our general Society meeting on Sunday, May 31, 2015, would achieve two purposes: 1) to bring the official title of the current by-laws of the Society into conformance with the Society’s title on our District of Columbia incorporation papers; and 2) to establish the Budget and Finance Committee as a Standing Committee. Heretofore, the committee has been established annually by the Society president on an ad hoc basis. Following is the full language of the three proposed amendments: First amendment:

That the title on the first page of the current by-laws of the Society be changed to

GRANT AND SCHOLARSHIP FUND INC. OF THE ABRUZZO AND MOLISE HERITAGE SOCIETY OF THE WASHINGTON, D.C. AREA doing business as THE ABRUZZO AND MOLISE HERITAGE SOCIETY OF THE WASHINGTON, D.C. AREA.

Second amendment: That Article VIII, Section 2: Standing Committees, of the by-laws be revised to include Budget and Finance Committee in the list of standing committees.

Third amendment: That a Section 11: Budget and Finance Committee be added to Article IX of the by-laws, with the following language contained therein:

It shall be the responsibility of the Budget and Finance Committee to serve as the overseer of all matters pertaining to the finances of the Society. The committee will draft the annual budget at the beginning of each operating year and submit it to the Executive Committee for review and approval. The committee will conduct periodic reviews of the Society’s financial status during each operating year when deemed necessary, but at mid-year as a minimum, and report its findings to the Executive Committee. The committee will draft policies for the management of the Scholarship Endowment Fund and submit them to the Executive Committee for its review and approval.