In that TT Inc. is now reasonably expecting large donations to be forthcoming, and in-so-far as there are currently a large number of Proposed and Accepted Projects which have no site nor individuals to pursue these projects, TT-Inc. is becoming pro-active in recruiting individuals to bring these, and yet-to-be-proposed Projects to fruition.
In order to implement the Article 9:Grants requirements, a set of specific Policies are hereby being proposed to provide specific guidelines to potential Investigators, and to provide a clear mechanism to insure that funded Projects are adequately monitored, managed, and progress reported to the Board of Directors.
Policy 1 - Control of Funded Projects
Projects funded by Troubled Times Inc. shall require a Project Plan as described in this Policy Statement. All such Projects shall require both a Principal Investigator and a Project Manager, who shall perform the duties as described in this Policy Statement. It shall be the responsibility of the Board of Directors to monitor and insure, as reasonably possible, that the Project Manager performs those duties as described in this Policy Statement. It shall be the responsibility of the Board of Directors to determine (and choose the means of determination) that the Name and Physical Address of any Principal Investigator be independently verified. It shall be the responsibility of the Board of Directors, in the event of default by the Principal Investigator, to investigate and determine if recovery of assets and/or funds is warranted.
Policy 2 - Incremental Funding
The Treasurer of Troubled Times, Inc. shall disperse Project Funds in increments whenever possible. Mile Stones shall indicate when specific funds are required. I.E., if paper design or research is required before actual construction can begin, completion of the design or research represents a Mile Stone, after which funds for construction may be distributed. Funding distribution shall be included in the Project Plan.
Policy 3 - Duplication of Effort
Any Proposed Project which duplicates an existing Project shall not be funded if the existing Project can be expanded to include any unique aspects of the new proposed Project, AND the existing Project Manager and Principal Investigator agree to modify that Project's Plan to include those unique aspects.
Policy 4 - Arbitration
In the event of irreconcilable differences between the Project Manager and the Principal Investigator, either party may request Arbitration to the TT Inc. President. It shall be at the President's discretion whether to provide Arbitration him/herself, or to appoint an Executive Committee.
Policy 5 - On Site Inspections
The Binding Agreement, which shall be signed by any Principal Investigator, shall, at the discretion of the Board of Directors, include a clause permitting on-sight inspections at the address where the Project is being conducted.
Policy 6 - Binding Agreement
The Binding Agreement shall be worded such that good-faith-effort shall be considered as basically success by the Principal Investigator. Any penalty which may be specified by the Binding Agreement shall NOT be exercised when good-faith-effort or unanticipated conditions arise which adversely affect a Project is evident. The Binding Agreement shall be focused upon discouraging fraud, and in the case of fraud, shall provide a basis upon which the Board of Directors are able to initiate the recovery of Assets and/or funds expended.
In formulating the above policies, the following terms/concepts are used extensively. All descriptive sub-items below each term shall be included implicitly within the Policy.
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This page was last updated 8/20/00