ARTICLE IX TERMS OF OFFICE The terms of office of all officers and of all members of committees shall continue until their successors in each case are appointed. ARTICLE X FINANCIAL ADMINISTRATION SECTION 1. The fiscal year of the association shall commence on the first day of July in each year. SECTION 2. The executive committee, at least one month prior to the annual meeting in each year, shall cause the accounts of the association to be audited by a skilled accountant, to be appointed by the president, and shall submit to the annual meeting of the board of trustees a full statement of the finances and work of the association, and shall mail to each member of the board of trustees a detailed estimate of expenses and requirements for appropriation for the ensuing fiscal year, thirty days before the annual meeting. SECTION 3. The board of trustees at the annual meeting in each year shall make general appropriations for the ensuing fiscal year, and may make special appropriations from time to time. SECTION 4. The securities of the association and other evidences of property shall be deposited under such safeguards as the trustees or the executive committee shall designate; and the moneys of the association shall be deposited in such banks or depositories as may from time to time be designated by the executive committee. ARTICLE XI These by-laws may be amended at any annual or special meeting of the board of trustees by a majority vote of the members present, provided written notice of the proposed amendment shall be personally served upon, or mailed to the usual address of, each member of the board at least twenty days prior to such meeting. ARTICLE XII The executive committee is hereby empowered to accept, on behalf of the association, a charter of the tenor and form reported by the Judiciary Committee of the House of Representatives to the House on the third day of February, 1911 (H. R. 32084, "To incorporate the Carnegie Endowment for International Peace"), and laid before the trustees of this association on the ninth day of March, 1911, with such alterations and amendments thereto as may be imposed by Congress and are not, in the judgment of the executive committee, inconsistent with the effective prosecution of the purposes of the association. Upon the granting of such charter the property and business of the association shall be transferred to the corporation so formed and a meeting of the trustees shall be called for the purpose of regulating and directing the further conduct of the business by the corporation. AMENDMENT I (Adopted December 12, 1912) Resolved, That Article 2, Section 1, of the By-Laws of the Association be, and it is hereby, amended, by striking out the words "second Thursday of December," and inserting in lieu thereof the words "third Friday of April." AMENDMENT II (Adopted April 18, 1913) Resolved, That the following sentence be added to Section 2, Article 2, of the By-Laws: "A special meeting of the Board on the second Friday of November in each year shall be called and held in accordance with the provisions of this section, for the transaction of such business as the Board shall determine upon, including any special appropriations that may be found necessary." REPORT OF THE EXECUTIVE COMMITTEE TO THE BOARD OF TRUSTEES TO THE BOARD of Trustees of the CARNEGIE ENDOWMent for InterNATIONAL PEACE: In compliance with Article 7, Section 3, of the By-Laws, the Executive Committee submits its annual report for the preceding year. The financial statement for the year and the Secretary's report on the operations and business of the Association for the preceding fiscal year have been mailed to each member of the Board. A detailed estimate of requirements for appropriation for the ensuing fiscal year accompanies this report.1 The Committee, in compliance with Article 10, Section 2, of the By-Laws, has caused the accounts of the Association to be audited by a skilled accountant, whose report will be laid before the Board.2 The Board will be called upon at its present meeting to fill two vacancies in the Executive Committee, those arising because of the expiration of the terms of Messrs. Butler and Fox, and to elect in regular course the President, VicePresident and Finance Committee for the year 1914. Since the annual meeting of the Board in December, 1912, which was the last annual meeting to which this Committee submitted a formal report, and at which the date of the annual meeting was changed to April, the Committee has held meetings on the following dates: January 11, February 7, March 28, April 18, May 24, June 28, October 20, November 14, December 20, 1913, and February 21, 1914. The minutes of all of these meetings, showing in detail the action and resolutions of the Committee, have been sent regularly by the Secretary to each member of the Board. At its first meeting-January 11, 1913,-after the Board meeting on December 12, 1912, the Executive Committee took the necessary steps to arrange for the transfer of the office of Treasurer from the temporary occupant of that position to the permanent Treasurer elected by the Board, Mr. Charlemagne Tower. Mr. Tower assumed the duties of the office on February 1, 1913, and copies of his reports submitted to each meeting of the Executive Committee, as required by the By-Laws, have been mailed regularly by the Secretary to each member of the Board. These reports show from month to month the condition of the finances of the Association and the disbursements made in carrying on its operations. 1Printed herein, pages 195-196. 2Printed herein, page 191. |