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

and well-defined set of transaction, a single signature by an authorized individualmay be appropriate; in all other instances, two signatures are required.Section 4. The FLACS Director shall present annually to the Board, for their approval, anaudited balance sheet and statement of income and expenses, certified by anindependent certified public accountant firm, prepared in accordance with generallyaccepted accounting practices.Article XIConflict of InterestSection 1. The Board shall adopt a Conflict of Interest Policy. The Conflicts of Interest Policyshall provide that no Trustee, Officer, employee or committee member shall have aninterest, direct or indirect, in any contract when such Trustee, Officer, employee orcommittee member, individually or as a member of the Board or committee, has thepower or duty to (a) negotiate, prepare, authorize or approve the contract, orauthorize or approve payment under the contract; (b) audit bills or claims under thecontract; or (c) appoint an officer or employee who has any of the powers or dutiesset forth above (subject to certain exceptions allowed under Section 802 of theGeneral Municipal Law). The Conflict of Interest Policy shall also provide that theTreasurer shall not have an interest, direct or indirect, in a bank or trust companydesignated as a depository or paying agent or for investment of funds of FLACS.Any Trustee, Officer, employee or committee member with such an interest shallmake a prompt, full and frank disclosure of his or her interest to the Board orcommittee. Such disclosure shall include all relevant and material facts known tosuch person about the contract or transaction that may reasonably be construed to beadverse to FLACS’ interest. The Conflict of Interest Policy shall also provide that noTrustee, officer, employee or committee member shall (i) directly or indirectlysolicit, accept or receive any gift having a value of fifty dollars ($50) or more,whether in the form of money, service, loan, travel, entertainment, hospitality, thingor promise, or in any other form, under circumstances in which it could reasonablybe inferred that the gift was intended to or could reasonably be expected to influencehim or her in the performance of his or her official duties, or was intended as areward for any official action on his or her part; (ii) disclose confidential informationacquired in the course of his or her official duties or use such information to furtherher or her personal interests; (iii) receive or enter into any agreement, express orimplied, for compensation for services to be rendered in relation to any matter beforeany municipal agency of which he or she is an officer, member or employee or ofany municipal agency over which he or she has jurisdiction or to which he or she thepower to appoint any member, officer or employee; or (iv) receive or enter into anyagreement, express or implied, for compensation for services to be rendered inrelation to any matter before the Board whereby the compensation is to be dependentor contingent upon any action by the agency. This does not prohibit the fixing of feesbased upon the reasonable value of services rendered. This provision is intended tocomply with Sections 800-804, 804-a, 805, 805-a, 805-b and 806 of the GeneralMunicipal Law, and shall be interpreted in accordance with those provisions. To theextent of any conflict between any provision of these By-laws and those provisionsResponse 13(e) - 6