Borrowing Between Programs

The NCSIG administers more than one program on behalf of its members, and the programs may or may not have the same membership.  It shall be the policy of the NCSIG that inter-program borrowing is permitted only under the following conditions:

1. The Treasurer has determined there is a short-term cash flow need for the borrowing and notifies the Board of such borrowing within ten (10) days of the transaction. The loaning program shall be held harmless by the borrowing program for the loss of interest income.
2. The Board has received an evaluation of the need and benefits of an inter-program loan from the Executive Director and/or Treasurer and has approved a specific plan for the loan and the re-payment provisions.