Treasurer Report, Fiscal Year 2015-2016
As of June 30, 2016, Leadership Oklahoma has an endowment of $2,416,647 which was built during its early years by depositing a portion of the enrollment fees, lifetime membership dues and by fundraising efforts. The spending policy for the endowment is 4.5% which is allocated to the operating budget each year. The endowment is professionally managed and is maintained to provide support to the operating budget and for emergency funds for extraordinary events.
Leadership Oklahoma provides annual financial statements which are prepared in conformity with generally accepted accounting principles. The financial statements are audited by an independent auditor. Monthly finances and annual budget are reviewed monthly by the Finance Committee and approved by the Board of Directors.