Page 185 - 2024 Orientation Manual

Community. Thus, in the event that the funds available for grants remain unused in any
given year, they shall be returned to the endowment account.

If the LBF, through its Board of Directors, determines that distributions to the ATJ
Fund have become unnecessary, obsolete or incapable of fulfillment, the Foundation
may re-designate the dedication of funds in keeping with the philanthropic intent of the
donor(s).

All distributions from the ATJ Fund will be made by the LBF, through its Board of
Directors, in accordance with the general and charitable purposes as set forth in the
Foundation’s policies and bylaws.

B. Accounting Method
It is the policy of the Louisiana State Bar Association to utilize the accrual basis of
accounting that recognizes revenues when they have been earned and expenses when
they have been incurred.

C. Audited Financial Statements
It is the policy of the LSBA to distribute audited financial statements to the Board of
Governors. The decision to publish the statements or otherwise make them available to
the membership shall be made by the Board at its meeting at which the statements are
distributed.

The authority to distribute the audited financial statements to other individuals and/or
organizations shall be at the discretion of the Treasurer or Executive Director.

An Audited Financial Statements Distribution Log, which contains the name of the
person to whom the statement was distributed, the date of distribution, the reason for
distribution, and the person who approved the distribution, shall be maintained.

D. Bank Reconciliations
It is the policy of the LSBA that bank statements be opened by the assistant bookkeeper,
who shall conduct the reconciliations or review the statements and forward to the Director
of Finance and Membership for reconciliation. Accounts shall be reconciled as quickly as
possible but always within 14 days of receipt. Voided checks must be documented and
accounted for properly. No individual who is a check signer or preparer shall open the
statements.

E. Capital Purchases & Capitalization Threshold Policy

Definition and Threshold
Capital purchases are comprised furniture, fixtures, equipment, software, leasehold
improvements, etc. that: have a useful life of more than one year; AND cost more than
two thousand and five hundred dollars ($2,500), which is the amount established by
the LSBA Board of Governors as the threshold amount for capitalization.

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