The ACAA Board of Directors in 1997 created a financial policy that designated funds of not more than Five (5%) Percent from any annual endowment income shall be allocated to an A.C.A.A. Equipment & Repair Reserve Account. This Policy established the concept to create a separate account to receive the income from the investments for emergency situations or non-budget expenses. Whenever the funds accumulated to a reasonable amount and needed non-budget office equipment or repairs were necessary, then these funds could be utilized for this purpose. During these many years, this system has allowed the office to purchase new computers, new software programs, new telephones and many other items needed to run a modern and efficient office.
Previously, these funds had been co-mingled into the existing accounts of the organization without any true identification or purpose. The income was then used to supplant normal operating expenses and the value was buried in the maze of everyday office business. This new process enables the office to be assured of special funds not anticipated in budgetary operation. No longer will there be a need of seeking outside sources for new equipment or repairs. As utilized, the benefits of this system will become more relevant and visible, adding to its credibility of a more modern fiduciary control.
