The Board of Directors shall adopt its tentative budget and the membership fee schedule at a regular meeting of the Board convened prior to September 1 of each year preceding the onset of the budgeted fiscal year. The tentative budget, but not the membership fee schedule, may be revised prior to the AGM, and as revised shall constitute the final budget for that year. Budget amendments, if needed, may thereafter be adopted by resolution passed with the concurring vote of a majority of the entire Board. Notice shall be promptly furnished to the membership of the adoption of any budget amendments which:
- singley, or in the aggregate with the combined effects of prior budget amendments, create a material variation from the final budget adopted for the current fiscal year. A variation shall be deemed material if the dollar value thereof exceeds ten percent (10%) of the full amount of the final budget; or,
- accompany the establishment of any major new corporate operational program.