ARTICLE XIII APPROPRIATION OF FUNDS

 

ARTICLE XIII

APPROPRIATION OF FUNDS

 

 

 

Section 1. FUNDS. The funds of the association shall be derived from membership fees, monthly dues, and special assessment of members, grants, donations or from other fundraising activities and benefits.

 

Section 2. FEES AND DUES. Every member of the association shall pay the following:

 

A. National Membership fee of Five hundred pesos (PHP 500.00) which will include the food, wine, ID card, accident insurance, marking fee, Chapter funds
and Founder’s Committee Fund.

B. Chapter Monthly dues of two hundred pesos (PHP 200.00) or lower depending
on what the Chapter commands.
C. Such other assessment that may be imposed by the Association from time to
time.

Section 3. RETENTION OF FUNDS. The Treasurer of every chapter shall collect, retain and deposit funds to any bank proximate to respective headquarters. All Chapter funds shall be managed and retained fully by each chapter.

 

Section 4. DISBURSEMENTS. Withdrawal from funds of the association, whether by checks or any other instruments, shall be signed by the Treasurer and countersigned by the Chairman, and in his absence, the President. Disbursement shall be made only when approved by the council and only disbursement intended for a specific purpose shall be considered authorized.

Section 5. No officer or member shall receive regular compensation for the services rendered in any capacity under CAGBII, however, should the financial capability of the CAGBII allows it, an officer or member may be provided with honorarium and/or his travel and meal expenses may be reasonably reimbursed.

Section 6. GENERAL FUNDS. All other income, funds, revenues, except real and fixed assets, misappropriated and unexpected at the year-end, shall revert to the general funds.

Section 7. ALLOCATION OF GENERAL FUNDS. The general funds shall be appropriated to the rental, miscellaneous operating expenses and all City services, to include electricity and water, as deemed needed in the operation and maintenance of the National Headquarters Office.

Section 8. REAL AND FIXED ASSETS. Real and Fixed assets of the Association shall be subjected to the rules, regulations and policies that shall be promulgated by the National Executive Council.

Section 9. FISCAL YEAR. The fiscal year of the Association shall be from January 1st to December 31st of the year.