| CHAPTER NINE: FINANCIAL PROVISION | ||
| 1. | The finance of the Association shall be derived from the following:- | |
| a. | Members' subscriptions; | b. | Special subscriptions; |
| c. | All other funds which may lawfully be raised. | |
| 2. | The Treasurer may hold a petty cash advance not exceeding $2000.00 at any one time. All money in excess of this sum shall be deposited in a bank or finance company approved by the Executive Committee. The bank account shall be in the name of the Association. | |
| 3. | All cheques or withdrawal notices on the Association's shall be signed jointly by the President, the Secretary and the Treasurer. In the absence of the President, the Secretary or the Treasurer, the Committee shall appoint one of its members to sign in his place. | |
| 4. | No expenditure exceeding $2000.00 in any one time shall be incurred without prior sanction of the Executive Committee and no expenditure exceeding $5000.00 in any one time shall be incurred without prioir sanction of the General Meeting. Expenditure of less than $2000.00 in any one time may be approved by the President together with the Secretary and the Treasurer. | |
| 5. | As soon as possible, after the end of each financial year, a statement of receipt and payments, and a balance sheet for the year shall be prepared and audited by the Auditors elected under chapter six. The audited accounts shall be submitted for the approval of the next General Meeting, and copies shall be made available at the registered address or places of meeting of the Association for the perusal of members. | |
| 6. | The date of the commencement of the financial year of the Association shall be from 1st January and shall end on 31th December each year. | |