CACC Rule Change Proposal
RCP-2024-1631

PART 14 – SMART LEGACY FUND
14.1 This reserve fund including principal and any investment income accrued by this
fund shall not be encroached upon or regarded as general revenue of CACC or any of it disciplines.
14.2 A Non-elected Standing Committee of 5 current CACC members in good standing
shall be appointed and the executive board shall delegate the power to the Committee to administer
the Fund.
14.3 Appointed members to this Committee shall serve as long as they have the desire
and capacity to continue.
14.4 The Committee shall determine and appoint their successors.
14.5 The Committee shall report at least quarterly to the executive board.
14.6 Subject to the final authority of the executive board, they shall have the authority to
oversee and determine the use of the Fund.
14.7 They shall have the power to approve to the Treasurer, the disbursement of any
monies from the Fund.

The Ed Smart Legacy Fund is a small and temporary reserve fund that is intended to be used and ultimately depleted if it's to accomplish its goal. As such, it is not a permanent committee and would more appropriately be in the CACC Policies and Procedures and not in the organization's By-laws.