The Governing Body shall submit its budget statements year-wise for its programmes every year in the month of February. However, a supplementary budget estimate if any can be considered as and when necessary.
All receipts and expenditure will be maintained under heads under the budget provision.
The financial year of the Society would be 1st April to 31st March every year.
The Annual Statement shall be presented by the treasurer to the General Body for its approval.
The Governing Body shall maintain its accounts in the name of the Society, with any scheduled bank
of India. All funds shall be remitted in the Bank account and shall be withdrawn under the joint signatures of any two out of President, General Secretary and Treasurer.
Assets of the Association at the time of dissolution can be transferred to any similar Society as decided by the Governing Body subject to the approval of the President who is the final authority.
The audited accounts together with the Auditor’s report will be presented before the General Body.
Income:
The ways and means of the income of the Society will be from:
Admission, subscription and category fee of each member.
Donations, special and emergency contributions.
Expenses:
The income and property of the Association shall be applied solely towards the promotion of the aims and objects of the Society as set forth in the Memorandum of Society and no portion thereof shall be paid or transferred directly or indirectly in any way.
No member of the Governing Body of the Society shall be appointed to any salaried office of the Society.
The Society under its constitution is required to apply its profits in promotion of its aims and objects.
Audit of Accounts:
The accounts of Society shall be audited by a qualified Chartered Accountant.