Examination and Implementation. The Board of Directors shall act reasonably and cooperatively to complete its examination and approval of each annual operating plan and budget for the next fiscal year prior to the end of December 31 of each year. The General Manager shall be responsible for the implementation of the annual operating plan and budget as approved by the Board. The Board of Directors shall review the actual operations of the Company against the operating plan and budget on a quarterly basis. Any deviation from any budgeted line item amount by greater than five percent (5%) shall require the approval of the Board of Directors, with not less than four (4) of the Directors approving such deviation.
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Examination and Implementation. The Board of Directors shall act reasonably and cooperatively to complete its examination and approval of each annual operating plan and budget for the next fiscal year prior to the end of December 31 of each year. The General Manager shall be responsible for the implementation of the annual operating plan and budget as approved by the Board. The Board of Directors shall review the actual operations of the Company against the operating plan and budget on a quarterly basis. Any deviation from any budgeted line item amount by greater than five percent (5%) shall require the approval of the Board of Directors, with not less than four (4) of the Directors approving such deviation.
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