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This document specifies the guideline for how USTCAF fund should be invested.

Detail

* The basic principle is to have a 50/50 split of stock market, and short term cash.

* At 15 days past the start of each quarter, no more than 60%, and no less than 40%, of the total AF fund should be invested in a stock market index fund, preference is given to ones ones tracking S&P500.

* At 15 days past the start of each quarter, No more than 60%, and no less than 40%, of the total AF fund should be invested in a money market fund, or similar cash-equivalent instrument.

* The AF portfolio is to be evaluated at the end of each quarter. Investment adjustment is only made during the first 15 days of each quarter.

* We have chosen to consolidate all of our bank and CD account, and move everything to the brokerage account we have with Schwab.

Section I. GB resolutions

Initiations and adoptions of GB resolutions shall satisfy the requirements stipulated in the bylaw. Further,

1. All proposals or drafts of GB resolutinos shall have a resolution number in the form of "GBR year-month-n", where "n" is a sequentially ordered number.

2. Sponsor(s) shall make an effort to use a valid number, or request such from the secretary.

3. The secretary is responsible for the book-keeping of the resolution numbers and ensuring all proposals have the correct resolution number.

4. The resolution number must appear in the "Subject" line of the E-mail containing the proposal, preferably followed by a short title.

5. After sufficient discussion and debate, the sponsor(s) may send the secretary a request for vote. Upon receiving the request, the secretary shall conduct a vote if other procedural requirements are satisfied.

6. All resolutions must be voted upon unless withdrawn. Votes can be "for", "against", or "abstain". All votes shall be counted for the purpose of forming a quorum. No-vote shall not be counted for the quorum and no default shall be assumed or considered.

7. Voting results shall be recorded and archived along with the resolution, either passed or rejected.

Section II. GB Communications and other affairs

The following GB affairs are considered non resolution matters:

1. Communications and exchanges representing the Foundation and/or the GB.

2. Routine work assignments.

3. Any other business that do not have a binding effect on AF and/or GB's operations.

The initiation and adoption of GB communications and other affairs must be consistant with the bylaw. Further,

1. All drafts or proposals shall have a GB affairs number in the form of "GBA year-month-n" where "n" is a sequentially ordered number.

2. Any GB member can submit a draft or proposal to the GB for debate and vote.

3. If no objections is raised in 72 hours after submission, the draft or proposal is agreed to by default.

4. Any board member can send the secretary a request for vote for any such matter. The secretary shall conduct a vote after receiving the request if other procedural requirements are satisfied. In such event, the "default passing rule" shall not apply.

5. All such drafts or proposals shall be archived, either agreed or rejected.

Background:

1. According to USTCAF Bylaw Article III

"The USTCAF shall have a three-member executive committee (EC), consisting of a chairperson, a vice-chair, and a secretary."

"The Chairperson, Vice-chair, and directors of subcommittees are appointed by the Governing Board, and they are usually directors of the Governing Board."

However, the Chair election procedure is never clearly defined.

2. Past experience in electing Chair:

In 1996, each GB members submitted 3 names with prefered order(points) and then the one with highest points became Chair.

In 1997 and 1998, one GB member was nominated and strongly favored, even though we also used the point system, the Chair was almost already decided at the moment the candidate was nominated because of lack of competition.

3. Why change now?

* No one expressed strong interest to run for the Chair at this moment due to various reasons, so no candidate to be nominated.

* To make the Chair election process fair and open, give every GB member a chance.

* To avoid "forcing" someone "popular" but "too busy" to become Chair.

Proposed procedure:

First Step:

Elect a three-member executive committee -- all GB members except those who declined in advance are candidates. Each GB member should send three names with prefered order to a neutral monitor ZHANG Shangyou(771) at This email address is being protected from spambots. You need JavaScript enabled to view it.

Second Step: After the three-member executive committee is elected, the three members have to discuss among themselves who should be the Chair, and who should be appointed Vice Chair, Secretary.

Third Step:

GB make a final confirmation vote on the Chair, Vice Chair and Secretary. The Chair can appoint other officials such as Treasurer, Directors of Subcommittees etc. who can also attend meetings of executive committee.

Pro and Cons:

1. To ensure that every GB member gets a fair chance to be in the executive committee;

2. Flexible, since the Chair only needs to be a good coordinator, so it is not necessary for the most "popular" person to become the Chair. Being in the 3-member EC already garuanteed the support of GB.

3. The only drawback is that GB members have to be careful in choosing the three members, since anyone could become Chair.