The following change is proposed for Article 13 of our Constitution and By-laws. A summary of the change was presented at the September meeting and we will vote on the amendment at the October meeting. The motion will require a 75% majority to pass.
13 Auditor
- An Auditor shall be appointed by the members at the Annual General Meeting, to audit the books, records, accounts and financial statements.
- The auditor is elected by the members and their annual report is addressed to the members. The auditor’s report indicates if the funds of the Association have been properly accounted for the financial statement fairly presents the financial condition of the Association.
- The duties and responsibilities of the Auditor are delineated in Sections 41 to 55, Part 5 of the Society Act, and are applicable where necessary.
Proposal to replace Article 13 with the following:
13 Annual Review of Financial Transactions
- The Association is not required to submit its books, records and statements to a financial audit. As a member-funded organization the review for completeness and accuracy of CRBA financial transactions can be carried out by representatives of members of the society.
- Each year at the regular October meeting, two current members of the club shall be elected from those nominated to represent the membership and serve on a financial review committee.
- Those selected may not be current members of the club executive when they serve on the financial review committee and can serve in successive years if selected.
- The review of financial transactions of the club shall encompass the year from January to December.
- Members of the Committee shall meet with the Treasurer at least once, after the end of the fiscal year and before the club financial statements are tabled at the annual general meeting.
- To the best of their ability the Committee members will answer the following questions:
- Have all financial transactions undertaken on behalf of the club been recorded?
- Have purchases in excess of C$300.00 been approved by executive through motions in the executive minutes?
- Does the collection and distribution of funds on behalf of CRBA appear to be transparent?
- Other than expenditures approved through the annual budget, have financial commitments in excess of C$1,000.00 been communicated and voted upon by association members?
- As reasonable and prudent people, do the committee members believe that the financial transactions of the club have been carried out in good faith?
- At least one of the committee members will attend the annual general meeting and respond to the five questions listed above