Difference between revisions of "Eagle Insignia Fund"
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Revenue from the sale of insignia, after deductions for the cost of shipping, shall be deposited to this fund until it reaches an amount deemed sufficient by the [[Eagle Council]] to pay for the next batch. | Revenue from the sale of insignia, after deductions for the cost of shipping, shall be deposited to this fund until it reaches an amount deemed sufficient by the [[Eagle Council]] to pay for the next batch. | ||
| − | Funds assigned to the Insignia Fund may only be used to purchase new insignia. | + | Funds assigned to the Insignia Fund may only be used to purchase new insignia. At present, both a Collar and a Breast Star have been authorized, though only the former has been produced to date. It is expected that once Breast Stars become available, the Collar will be discontinued. |
As this fund is a promise from the Order to itself, exceptional circumstances that drain the [[Eagle General Fund]] might make it appropriate to return these monies to that fund. One would expect this to require a 2/3 vote of the Eagle Council. | As this fund is a promise from the Order to itself, exceptional circumstances that drain the [[Eagle General Fund]] might make it appropriate to return these monies to that fund. One would expect this to require a 2/3 vote of the Eagle Council. | ||
| − | The fund is managed and insignia orders placed by the [[Custodian of Insignia | + | The fund is managed and insignia orders placed by the [[Custodian of Insignia]]. |
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Revision as of 13:47, 23 November 2015
In managing the finances of the Order of the Augustan Eagle, a depenency of The Augustan Society, Inc., a separate Insignia Fund has been established.
Given that the cost of the insignia is substantial, with significant fees for tooling often needed for each batch, it is necessary to save up for multiple years in order to afford additional purchases. This Fund holds those saved funds against such future need.
Revenue from the sale of insignia, after deductions for the cost of shipping, shall be deposited to this fund until it reaches an amount deemed sufficient by the Eagle Council to pay for the next batch.
Funds assigned to the Insignia Fund may only be used to purchase new insignia. At present, both a Collar and a Breast Star have been authorized, though only the former has been produced to date. It is expected that once Breast Stars become available, the Collar will be discontinued.
As this fund is a promise from the Order to itself, exceptional circumstances that drain the Eagle General Fund might make it appropriate to return these monies to that fund. One would expect this to require a 2/3 vote of the Eagle Council.
The fund is managed and insignia orders placed by the Custodian of Insignia.
