History
APRACA Strategic Plan
Organization
Message from Chairman
Message from Vice Chairman
Executive Committee Members
APRACA Regulations
Definitions and Scheme
PART I
Objectives and Functions
Legal Status
Membership
Rights and Obligations of the Members
General Assembly
Executive Committee Members
General Secretariat
Financial Matters
Amendment of Article I and Part I
Settlement of Disputes
Dissolution
PART II
Membership
General Assembly
Executive Committee Members
General Secretariat
Financial Matters
Observers
Suspension and Amendment of Part II of the Regulations
List of General Assemblies
List of members
How to join APRACA
PART I
Article IX Financial Matters
About us >APRACA Regulations > PART I Article IX Financial Matters
  1. The Financial Year of the Association shall be the calendar year.  The audit of the accounts of the Association for each financial year shall be completed by the fifteenth day of March of the following year.

  2. The Executive Committee Members shall submit to the General Assembly at each ordinary meeting of the General Assembly for its approval:

    a ) the audited accounts of the two previous financial years, together with a detailed financial report; and
    b ) the programme of work and budget of the Association for the current financial year and the next financial year.

  3. The financial resources of the Association shall consist of:

    a ) admission fees paid by new Members and annual membership fees;
    b ) voluntary contributions from the Members, and grants and donations from other sources;
    c ) income from sale of publications, conducting of training courses and provision of consultancy services;
    d ) income from investments made by the Association; and
    e ) any other funds accruing to the Association.

  4. Any surplus at the end of each financial year shall be used to promote the objectives of the Association as may have been decided by the General Assembly.

  5. The Executive Committee Members, or the Secretary General as authorized by the Executive Committee Members, shall manage the funds of the Association in conformity with the objectives of the Association and the budget approved by the General Assembly, and shall exercise the following powers and discharge the following duties:

    a ) incur expenses in connection with the administration and operations of the Association;
    b ) collect, receive and acknowledge receipt of contributions, fees, grants and donations, and place them in appropriate bank accounts;
    c ) open, operate and close bank accounts in countries in the Region, or in any other countries approved by the General Assembly;
    d ) invest any funds which are not required for immediate use;
    e ) maintain true and accurate accounts in respect of all funds received, and authorize, record and account all disbursements made; and
    f ) arrange for the audit to be carried out in accordance with paragraph 1 of this Article.

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