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AGVAustralian Greens Victoria Constituent Bodies Financial Management and Reporting

General Financial Operations​

  1. The conduct, recording and reporting of all financial transactions shall be in accordance with standards and procedures as set from time to time by the AGVAustralian Greens Victoria State Treasurer and as documented in the AGVAustralian Greens Victoria “Victorian Treasurer’s Handbook for Partythe incorporated association referred to in clause 40(1) Bodies”.

  2. Partythe incorporated association referred to in clause 40(1) bodies shall notify the AGVAustralian Greens Victoria State Treasurer within seven days of any change in treasurer.

  3. For the purposes of this bylaw, ‘party body’ includes a branch, regional council or regional campaign committee.

Petty Cash​

  1. The maximum petty cash balance that a party body can hold is $100. Amounts greater than $100 must be held in a bank account managed by either:

    1. the party body itself;

    2. in the case of a branch or regional campaign committee that does not hold a bank account, its regional council; or

    3. the AGVAustralian Greens Victoria State Treasurer.

  2. All petty cash transactions shall be recorded in a petty cash journal.

Bank Accounts​

  1. All party body bank accounts shall be opened through the AGVAustralian Greens Victoria State Treasurer.

  2. All party body bank accounts shall be closed through the AGVAustralian Greens Victoria State Treasurer.

  3. All party body bank accounts shall be operated in a manner as specified by the AGVAustralian Greens Victoria State Treasurer.

  4. All party body bank accounts shall have a minimum of three signatories, two of whom must sign to approve any transaction, including the addition or deletion of signatories.

  5. Additions or deletions of account signatories other than the State Treasurer or Finance Officer must first be decided by the party body holding the account, and minuted accordingly.

  6. The AGVAustralian Greens Victoria State Treasurer shall be a signatory on all party body bank accounts.

  7. The AGVAustralian Greens Victoria Finance Officer, or an alternate AGVAustralian Greens Victoria staff member nominated by the AGVAustralian Greens Victoria State Treasurer, shall be a signatory on all party body bank accounts.

  8. The AGVAustralian Greens Victoria Finance Officer, or alternate nominated signatory as described in section 11, shall not initiate or approve any transactions on party body bank accounts unless authorised by the AGVAustralian Greens Victoria State Treasurer.

  9. The AGVAustralian Greens Victoria State Treasurer shall not conduct or authorise any transactions on party body bank accounts unless a written request to do so has been received from two party body office bearers or the party body has been declared non-compliant with their financial obligations as defined in sections 30 to 33.

Income​

  1. All income received shall be deposited either to petty cash or to a bank account before any costs or other outgoings are paid from the income.

  2. A receipt shall be issued for each income amount of $50 or more received from a single source.

  3. An official tax receipt book issued by the AGVAustralian Greens Victoria state office shall be used for all receipts issued.

Expenditure​

  1. No financial commitments shall be made unless the funds to cover the commitment are already available in the accounts of the party body.

  2. All expenditure decisions shall be made at a quorate meeting of the party body and documented in the meeting minutes. An expenditure decision may delegate the spending, up to an approved amount, to a nominated individual or committee.

  3. If a party body has a defined Quick Decision Making Group and process, this may be used to approve urgent expenditure.

  4. An official tax invoice/receipt should be received and kept for all payments made.

  5. An AGVAustralian Greens Victoria expenditure claim form should be submitted by any party member wishing to claim reimbursement for money spent on party activities.

GST​

  1. Partythe incorporated association referred to in clause 40(1) bodies shall pay via the AGVAustralian Greens Victoria state office, on a quarterly basis unless otherwise specified by the State Treasurer, GST on all income they receive that is liable for GST. Donations and bank interest are GST exempt.

  2. Partythe incorporated association referred to in clause 40(1) bodies shall be refunded via the AGVAustralian Greens Victoria state office, on a quarterly basis unless otherwise specified by the State Treasurer, GST on any payments they make for which the party can claim a refund from the ATO.

Reporting​

  1. Partythe incorporated association referred to in clause 40(1) bodies shall report all financial transactions to the AGVAustralian Greens Victoria Finance Officer on a quarterly basis.

  2. Quarterly reports shall be provided by due dates as specified by the AGVAustralian Greens Victoria State Treasurer.

  3. Quarterly reports shall include:

    1. record of all financial transactions made during the quarter;

    2. record of all donations received during the quarter;

    3. all bank account statements for the quarter;

    4. all invoices/receipts received for expenditure made during the quarter;

    5. all expenditure claim forms for which expenditure was reimbursed during the quarter;

    6. any other relevant financial documents.

  4. Quarterly records of financial transactions and donations shall be in a format as specified by the AGVAustralian Greens Victoria State Treasurer.

  5. All complete or partially complete cheque books, deposit books and receipt books shall be made available on request to the AGVAustralian Greens Victoria Finance Officer with the final quarterly report for the financial yearThe financial year of the Party is the year ending on 30 June..

Non-compliance​

  1. Partythe incorporated association referred to in clause 40(1) bodies that are not in compliance with AGVAustralian Greens Victoria financial requirements as detailed in the AGVAustralian Greens Victoria Constitution, AGVAustralian Greens Victoria Bylaws and the “Victorian Treasurer’s Handbook for Partythe incorporated association referred to in clause 40(1) Bodies” may be issued with a notice of non-compliance by the AGVAustralian Greens Victoria State Treasurer.

  2. The notice of non-compliance shall be sent to all party body office bearers as registered with the AGVAustralian Greens Victoria state office.

  3. The notice of non-compliance shall specify the areas of non-compliance and state that these matters are to be rectified within 30 days from the notice date.

  4. If the non-compliance is not rectified by the specified date, the AGVAustralian Greens Victoria State Executive may authorise the AGVAustralian Greens Victoria State Treasurer to take over the financial operations of the party body.

Modification History​

ActionBodyDate
ApprovedState Executive2009-08-13
AmendedState Executive2011-08-11
AmendedState Council2014-02-01
AmendedState Council2016-01-30