Part V - Administrative
Bylaw 501. Budget
Section 1. The Board shall establish a budget for each year within the first two months of the new fiscal year.
Section 2. The Board shall cause review of financial statements by an independent source every five years to ensure current accounting practices are being met.
Section 3. The Board shall cause tax reports be prepared and submitted to the IRS annually by May 15th per IRS rules for non-profit and tax exempt organizations.
Section 4. The Treasurer shall provide financial statements acceptable to the board at each regular meeting of the Board or as otherwise directed.
Bylaw 502. Refunds
Section 1. Unwillful Departure from Thelo. Examples of unwillful departure are: player has been seriously injured, moving out of area or other extreme circumstance. If departure takes place in pre-season refund will be based on board decision.
Youth - Prior to August 1st
High School - Prior to Supplemental Tryouts
If departure takes place after the start of the season, there will be no refund.
Section 2. Willful Departure from Thelo. Examples of willful departure are: player chooses to leave Thelo to play for another club, player commits to team assignment and then later has other conflicts that will not allow them to compete on the team. Willful departure from Thelo will result in no refund of payments. (Remaining balance must be paid). A player’s card will not be released to another club until the player’s account has been paid in full.