FINANCE AND INVESTMENTS
Budget
The Table Officers are authorized and empowered to make payments and incur liabilities in accordance with the budget approved by Council.
General Banking
Except as otherwise provided by these by-laws, the Treasurer or their designate shall carry on the general banking business of the Branch.
Accounts
Accounts in the name of the Branch shall be maintained at a chartered bank, trust company, or credit union. All monies received must be deposited into these accounts, and all disbursements must be made from them.
Cheques, Drafts, and Other Negotiable Instruments
39(1) All cheques, drafts, and other negotiable instruments must be signed on behalf of the Branch by any two of the following:
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the President;
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the Vice-President;
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the Treasurer;
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the Executive Director; or
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any other person designated by Council.
39(2) No cheque or payment for any expenditure shall be issued without the approval of the Treasurer if the expenditure would cause the relevant budgeted expense item to exceed 10% of its allocated budget.
Audits
40 The books and accounts of the Branch shall be reviewed or audited annually by an accounting firm designated by Council at the annual meeting of the Branch.