Author Topic: Standard constitution rules  (Read 2477 times)

Frankie

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Standard constitution rules
« on: October 30, 2017, 13:26:06 »
Does anyone have the following rule in their constitution:

"Small holdings and allotments separate account

A separate account shall be kept by the society of all income and expenditure of the society under rule 4, clause (a). The income shall be applicable as may be determined by the committee of management for the following purposes and for no other purpose whether during the existence of the society or on dissolution:"

There then follows a list of things like payment of repairs and improvements, payment of interest, prizes etc.

Rule 4(a) relates to the objects of the society being the creating and promoting of allotments.

I think it's part of a standard, off the shelf NAS constitution - does anybody know what is meant by 'separate account'?

Thanks all.

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Re: Standard constitution rules
« Reply #1 on: October 30, 2017, 13:43:57 »
In its simplest meaning it just means that any income or expenditure related to 4a(the creating and promoting of allotments) should be kept in a separate (usually bank) account and the statements etc) are separate from all the rest of the society's income and expenditure.

The money going in will be determined by the committee, but should only be spent on the things listed "like payment of repairs and improvements, payment of interest, prizes etc."

Frankie

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Re: Standard constitution rules
« Reply #2 on: October 30, 2017, 13:52:15 »
Thank you that's helpful. The rules make no mention otherwise of income/expenditure, but can the society do what it likes with the income? Or can we ONLY spend income on prizes, hedge maintenance etc?

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Re: Standard constitution rules
« Reply #3 on: October 30, 2017, 22:55:31 »
Presumably the committee will decide how much money to move from the main account (the income mentioned) into the separate account.  "etc" always gives some leeway to include other things which can be paid from the account.

All money transferred in and payments made should be shown in the Society's account books, from the main account into the separate '4a' account and also any outgoings from that account

 

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