Organizational Chart FLACS I, II, III First Year - Newyorkcharters.org

a. The Board may delegate to a committee any of the authority of the Board, exceptfor election of Trustees, filling vacancies on the Board or committees, fixingTrustee compensation for serving on the Board, amendment or repeal of bylawsor the adoption of new bylaws, appointment of other Board committees, and theamendment or repeal of any resolution of the Board which by its terms shall notbe so amendable or repealable.Section 2. The Standing Committees of FLACS shall be Executive, Finance and Compensation,and any other standing committees as the Board may from time to time establish.a. The Board, by resolution adopted by a majority of the entire Board, maydesignate from among its members an Executive Committee, consisting of fiveor more Trustees.b. The Finance Committee will consist of no less than three (3) Trustees, a majorityof which shall have no affiliation with the Latino Pastoral Action Center(LPAC), and shall serve at the pleasure of the Board Chair.1. All financial agreements between LPAC and FLACS, including but notlimited to the leasehold (including, but not limited to, its execution,renegotiation and enforcement), must be reviewed and approved by theFinance Committee as a condition preceding approval by the Board.2. In the event that the Board Chair has any affiliation with LPAC, the Chairshall not have the power to remove unaffiliated members of the FinanceCommittee. Removal of such Trustees must be made by a vote of the Board.c. The Compensation Committee shall review the performance and annualcompensation of the Directors of each school and other key employees ofFLACS and make recommendations to the Board.d. Standing Committees shall consist of no less than three (3) Trustees, andmembers shall serve at the pleasure of the Board Chair.Section 3. All committees shall keep records of their actions and report such action to theBoard at its next meeting.Section 4. In case of an overlapping of jurisdictions among committees, the Board Chair shallsettle the matter.Article XFiscal ManagementSection 1. The fiscal year of FLACS will begin on July 1 of each year and will end on June 30of the following year.Section 2. Except as otherwise provided in these bylaws, the Board may adopt a resolutionauthorizing any FLACS Officer or agent to enter into any contract or execute anddeliver any instrument in the name or on behalf of FLACS. Such authority may begeneral or confined to specific instances. Unless so authorized, no Officer, agent oremployee shall have any power to bind FLACS by any contract or engagement, topledge its credit or render it liable monetarily for any purpose or any amount.Section 3. Except as otherwise specifically provided by Board resolution, checks, drafts,promissory notes, orders for the payment of money, and other evidence ofindebtedness of FLACS must be signed by any two of the following: a ChiefExecutive Administrator, a FLACS Director, the Chief Fiscal Officer or the BoardTreasurer. In certain instances involving de minimis expenses regarding a specificResponse 13(e) - 5