Article 5. FINANCIAL RULES (POLICY)
5.1. Financial Year:
It shall commence from the first day February to the last day of January of the following calendar.
5.2. Budgetary Proceeding:
It shall be annual budgetary system (for both short and long term plans). It shall be tabled before the GBM for notification and approval.
5.3. Bank Account Operation
The SO shall maintain a bank account in any public sector bank and operated by SO as follow:
- . Account operators: It shall be joint operation of three authorized signatories: President, Finance Secy. and Treasurer, or appointed by the Assembly. Any or all of them can be replaced by the Assembly, if deemed needful.
- Frequency of deposit: Subject to availability of cash, preferably for-nightly or monthly. No cash shall remain (except day to day requirements) with Finance Secretary more than a week to fifteen days.
5.4. Audit and Auditors
Both SO and State SO and SYO (GHQ) and State SYO shall appoint their respective Auditors. In the case of doubts or misappropriations, SO and SYO (GHQ) shall set up enquiries and settle the matter with or without disciplinary action. Auditors shall
(a) Verify the transactions for the specified period.
(b) Verify all accounts and financial statements.
(c) Verify the correctness and validity of all the supporting documents.
(d) Submit their findings and suggestions to the concern Executive committee. The Auditors shall be given appropriate incentive/honorarium.
5.5. Expenditure
[5.5a]. The Allowances:
Both SO and SYO Office-bearers are entitled free lodging, travelling expenses and sitting allowances.
[5.5b]. Travelling expenses:
[A] The organization shall bear all authorized expenses for that period of official travelling.
[B] Benevolence gift may be considered for Executive Committee members on account of: death of self/family member(s), wedding, or excellent achievement.
[C] Executive decides the amount to be sanctioned based on the occasion.
