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Scouts of America, in accordance with the Rules and Regulations and procedures from time to <br />time adopted by the Boy Scouts of America. <br />Clause 2. Subject to the Rules and Regulations of the Boy Scouts of America, the <br />corporation shall control the raising and expenditure of all funds for local Scouting work <br />within the territory of the corporation. The necessary expenses of the corporation shall be met <br />by funds secured by solicitation or otherwise in accordance with the Rules and Regulations of <br />the Boy Scouts of America pertaining to the raising of funds for Scouting purposes. <br />Clause 3. Neither the corporation nor any unit under its jurisdiction shall have any authority <br />to bind the Boy Scouts of America to any financial obligation whatever. <br />CONTROL OF FUNDS AND PROPERTY <br />SECTION 2. <br />Budget <br />Clause 1. The executive board shall, preceding the commencement of each fiscal year, <br />consider and adopt a budget of estimated expenditures by the corporation for such fiscal year. <br />No funds shall be expended by the corporation during a fiscal year without the authorization of <br />the executive board or the executive committee for any item not covered by, or in excess of <br />the amount authorized by, the budget for such year. <br />General Funds <br />Clause 2. All funds of this corporation or funds handled on behalf of this corporation or the <br />Boy Scouts of America, from whatever source and for whatever purpose received, shall be <br />deposited to the credit of the corporation in such depositories as shall be approved by the <br />executive board or executive committee. The funds shall be disbursed only upon the authority <br />of the executive board, executive committee or upon the order of officers of the corporation <br />duly authorized by the executive board or executive committee; in any event the signatures of <br />at least two authorized persons shall be required for the disbursal of funds except in the case of <br />checks made payable to the Boy Scouts of America where a single signature will be accepted <br />provided authorization has been accorded by the executive board. <br />All receipts from registration fees, Boys' Life subscriptions, and any other funds of the Boy <br />Scouts of America which are received by this corporation for transmission to the Boy Scouts <br />of America shall be carefully segregated, through bookkeeping and accounting procedures, as <br />established by the Boy Scouts of America. <br />All persons having access to any funds (general or special) of the corporation shall be <br />bonded. <br />23 <br />