BRIDGE FOUNDRY, INC.
BOARD OF DIRECTORS
BOARD ACTION
July 22, 2020
Virtual Board Meeting: Sarah Allen, Isa Herico-Velasco, Eggya Chiquita, Melissa Xie
Given that Sarah Allen is on temporary leave of absence from the position as CEO, as Chair of the Board, Sarah proposed via email, the following changes to the General Signatory And Banking Authority Policy to allow the organization to conduct business in her absence:
Change the following text:
_Furthermore, if an authorized transaction requires a contract, only the CEO is authorized to sign on behalf of the organization._
to:
_Whether or not a transaction is authorized, the CEO has sole authority to sign contracts. However, in case of a temporary absence, the CEO may delegate authority to another officer by notifying the Board via email or other writing._
_When a contract is signed by the CEO or her delegate, the following process must be followed:_
- When a new vendor or contractor is selected, ensure that a “decision document” is drafted so that our record-keeping supports internal transparency and sustainability.
- Establish a plan to evaluate the impact of ongoing commitments (e.g. subscription service or new program).
- Notify the Board of the contract with an outline of any organizational commitments. In the case of financial commitments, also notify the Finance Manager.
Furthermore, Sarah Allen proposed that Melissa Xie, Treasurer, be authorized to sign contracts on behalf of the Bridge Foundry organization.
Also via email, Melissa Xie seconded the motion and agreed to take on this responsibility.
Board members Eggya Chiquita and Isa Herico-Velasco agreed to the motion.
Having quorum with Sarah, Melissa, Eggya and Isa, the outstanding motion of authorizing Melissa Xie to sign contracts has been carried.
Respectfully submitted,
/s Eggya Chiquita
Recording Secretary