Recommendations of the Members By-Laws Review Committee 46 Current By-Laws (January 2023) (A) Board’s Proposed Change (B) Board’s Rationale (C) By-Law Committee’s Recommendation (D) By-Law Committee’s Rationale (E) (2) The Treasurer shall: (i) receive all monies due and payable to the Society and issue receipts for the same; (ii) deposit all monies received in the name of the Society in such bank or depository as specified by the Board; (iii) sign all cheques, notes, bills of exchange and other documents necessary to effect the business of the Society; (iv) record all transactions effected by the Society in the books provided for the purpose; (v) keep charge of all documents, books and vouchers for all payments made and receipts issued on behalf of the Society; (vi) prepare the annual statements of accounts, balance sheet, monthly financial statements and other statements as the Board may request; (vii) keep separate all monies belonging to the Society; (viii) produce a current statement of the Societies monies on demand; and (ix) make payments as authorised by the Board and obtain receipts for the same. iv. ensure the requisite financial filings are completed. v. oversee budget and audit processes and in collaboration with management, present the annual budget to the full board for approval. vi. review and recommend for approval the annual statements of accounts, balance sheet, monthly financial statements and other statements prepared by management as the board may request. vii. attest to the monthly returns filed in compliance with the Act. viii. present the budget of expenses for the Board of Directors, Supervisory Committee and Credit Committee for approval by members at the Annual General Meeting. The approved budget will remain in effect for the sooner of a period of one year or until the date of the next Annual General Meeting. received, accurately classified and recorded, and securely deposited in the Bank accounts of the Society following the policies approved by the Board. ii. All payments, in whatever form, are duly authorized, classified, and made following the polices approved by the Board. iii. All other transactions of the Society are appropriately classified and promptly recorded in the approved records and systems of the society following the policies approved by the Board. iv. All documents, books, vouchers, receipts, reports and supporting authorizations are securely stored and maintained according to the policies approved by the Board. v. Accounts, financial statements, and reports relating to these, are prepared accurately and promptly the holder of this office, and that person therefore cannot plead ignorance or evade responsibility in matters which result in losses (actual or opportunity) or harm to the Society’s income or assets.
RkJQdWJsaXNoZXIy MTA2MDM=