TSWPC Club Constitution
The Club Constitution is a large document covering all aspects of the club, members and operations.
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Section 16 Finance
16.1 All monies payable to the Club shall be received by the Treasurer and deposited in a bank account in the name of the Club. No sum shall be drawn from that account except by cheque or by electronic means or online and sanctioned by the Treasurer and one of the three other signatories who shall be the President, Secretary and a nominated Vice President. Any monies not required for immediate use may be invested as the Committee in its discretion think fit.
16.2 The income and property of the Club shall be applied only in the furtherance of the objects of the Club and no part thereof shall be paid by way of bonus dividend or profit to any members of the Club, save as set out in Rule 17.3.
16.3 The Committee shall have power to authorise the payment of remuneration and expenses to any Officer, member or employee of the Club and to any person or persons for services rendered to the Club.
16.4 The financial transactions of the Club shall be recorded by the Treasurer in such manner as the Committee think fit.
16.5 The financial year of the Club shall be the period commencing 1st September and ending 31st August. Any change to the financial year shall require the approval of the members in a General Meeting.
16.6 The Committee shall retain all financial records relating to the club and copies of Minutes of all meetings for a minimum period of six years.