Section 1. The fiscal year of the PMI-CVC shall be from 1 January to 31 December.
Section 2. PMI-CVC annual membership dues shall be set by the PMI-CVC'S Board and communicated to PMI in accordance with policies and procedures established by PMI.
Section 3. The PMI-CVC Board shall establish policies and procedures to govern the management of its finances and shall submit required tax filings to appropriate government authorities.
Section 4. All dues billings, dues collections and dues disbursements shall be performed by PMI.
Section 5. The PMI-CVC Board shall adopt an annual operating budget by the end of the first fiscal month of each fiscal year.
Section 6. At a minimum, by the end of the fifth and ninth fiscal month of each fiscal year, the PMI-CVC Board shall review and as needed amend and approve the annual operating budget.
Section 7. The Board shall adopt a balanced budget. A balanced budget shall mean that the reasonably estimated operating expenses (and actual expense when applicable) shall not exceed the reasonably estimated operating income (and actual operating income when applicable). Operating income includes sources of revenue from dues, programs, and other chapter operations; it does not include income from savings, investments, loans, or similar sources. Should an operating budget necessitate the use of non-operating funds, said budget can be adopted by a two-thirds vote of the PMI-CVC Board.