PROPOSED BYLAW CHANGES

September 23, 2006

The following changes to the ARANA bylaws have been recommended by the ARANA Board of Directors.

Current Bylaw states:

Article V.

SECTION 8.  The Treasurer shall receive all funds and monetary transactions, pay bills and disburse funds as directed by the Board of Directors, present a written report to the Board of Directors at the annual meeting, arrange auditing of the books at the end of the fiscal year (January 1 to December 31).  The Treasurer shall be a member of the Budget and Finance Committee.

Changes recommended:

Article V.

SECTION 8.  The Treasurer shall receive all funds and monetary transactions, pay bills and disburse funds as directed by the Board of Directors, present a written report to the Board of Directors at the annual meeting. The Treasurer’s books shall be audited by an outside auditor (chosen by the BOD) every two years, prior to the conclusion of the present Treasurer’s term of office or when directed by the BOD.  The Treasurer shall be a member of the Budget and Finance Committee.