1. An annual operating budget shall be approved by the Executive Committee at the beginning of each fiscal year, and no Party funds shall be expended for any purpose not provided for in said budget except with approval in advance of the Executive Committee.
2. No debts or financial obligations shall be incurred in the name of the Party by anyone except as authorized by the budget or appropriate resolution.
3. An audit of all financial records and transactions of the Party unit shall be made at least annually and at such other times as may be required by the Executive Committee of the appropriate Party unit.
4. No fundraising activities shall be carried out in the name of the Party at any level without the prior approval of the Executive Committee of the appropriate Party unit. Before any Party fundraising activity is authorized, the Executive Committee shall appoint a person or persons to be in charge of the receipt and disbursement of monies in connection with such event, and to ensure a proper, full and successful accounting of monies received and expended for such event. The person or persons in charge of the financial affairs of the said event shall keep complete and accurate records for inspection by any Executive Committee member and shall, within a reasonable time make a financial report to the Executive Committee of the said activity or event.
5. The Executive Committee of any Party unit may, by appropriate resolution, authorize the establishment of one or more campaign fund accounts for the purpose of receiving and disbursing funds for conduction general election campaigns, which accounts shall be separate and distinct from the regular Party accounts and budgets and other provisions to this article and shall be handled by a person or persons designated by the Executive Committee. Each such account shall include the special designation of “campaign funds” in its accounts name. The Party is authorized to receive and expend funds designated for such campaign purposes.