USOF POLICY –TRAIL O
Purpose: The
purpose of the Trail O Team Fund is to provide interest-free loans and grants
to aid USOF Trail O Team members in training and travel in pursuit of
excellence in competitive orienteering and future membership in the US Trail O
Team and to offset competition and operating expenses of the Trail O Team as a
whole.
Administration: The Trail O Team Fund is administered by the USOF US Trail O Team Administrator,
or his designate. By approving the annual budget for the Trail O Team Fund, the
USOF Board of Directors empowers the fund administrator to authorize
disbursement of monies From the Trail O Team Fund up to the amount budgeted for
that purpose. The fund administrator has the authority to approve expenses and
enter into contracts for grants and loans from the Trail O Team Fund.
Disbursements from the Trail O Team Fund may not at any time exceed the cash
balance in the fund. The fund administrator is required to maintain appropriate
records and produce budget and financial statements regarding annual Trail O
Fund activity.
Sources: Sources
for support and revenue for the Trail O Team Fund are:
1. Contributions to USOF designated for Trail O Team
support activities.
2. Undesignated contributions to USOF authorized by the USOF
Board of Directors to be used for Trail O Team support or activities.
3. Transfers from the USOF Operating Fund authorized by
the USOF Board of Directors to be used for Trail O Team support or activities.
4. Fund raising activities on behalf of the Trail O Team.
Uses: Monies
in the Trail O Team Fund may be disbursed as:
1. Loans or grants to USOF members for travel and
training purposes as budgeted and approved by the Trail O Fund Administrator.
2. Operating expenses of the Trail O Team as a whole.
3. Administrative costs related to the management of the
monies in or expenses funded by the Trail O Team Fund as budgeted and
authorized by the fund administrator.
Dissolution:
The Trail O Team Fund may be dissolved by majority vote of the USOF Board of Directors.
Monies remaining in the fund at dissolution must be disbursed or transferred in
a Manner consistent with the intention of their designation to the Trail O Team
Fund.