Constitution of CVRAM PDF Print E-mail

ARTICLE VIII

Finance

  1. The financial year shall begin on 1st July and end on 30th Jun the following year.
  2. The sources of income of the Association shall be:
    1. Entrance fees
    2. Subscriptions
    3. Such other sources as may be approved by the EXCO
  3. Subject to the following provisions in this rule, the funds of the Association may be expended for any purpose necessary for carrying out the objects of the Association, including the expenses of its administration, the payment of salaries, allowances and expenses to its office bearers and paid staff and the audit fees for its accounts being audited but they shall on no account be used to pay fine of any member who may be convicted in a Court of Law.
  4. The Treasurer may hold a petty cash advance not exceeding Ringgit Malaysia Two Thousand (RM2,000.00) at any one time. All monies in excess of this sum shall within seven (7) days of receipt be deposited in a bank approved by the EXCO. The bank Account shall be in the name of the Association.
  5. All cheques or withdrawal notices on the Association's account shall be signed jointly by any two of the following office-bearers of the Association:
    • The President
    • The Vice President
    • The Secretary
    • The Treasurer
  6. No expenditure exceeding Ringgit Malaysia Five Thousand (RM5,000.00) at any one time shall be incurred without the prior sanction by the EXCO. Expenditure below RM 5,000.00 shall be approved by the President and Secretary and Treasurer.
  7. The funds of the Association shall be used for the following purposes:
    1. to meet expenses in connection with the administration of the Association including Auditor's fee and other incidentals;
    2. to meet payments in respect of privileges to which are entitled under the Constitution and other expenses incurred on behalf of the Association as approved by the EXCO;
    3. to meet expenses relating to the attainment of the purposes and objects of the Association.

 



 
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