agm20100130.4.13 Signatories To Payments

Result - CARRIED

Introduction

The Association's committee is currently hamstrung by requiring two signatories to every payment instrument. This means that Board needed to spend around 4-6 months faffing around getting an additional signatory onto the bank account before anything could be paid.

One signatory should be sufficient.

Also, as an additional change, it should be clear that the board approves payments.

Motion Carried (New Text)

that, 37(2) be replaced with the following text:

(2) All cheques, drafts, bills of exchange, promissory notes and other negotiable instruments must be approved by the committee, either directly, or under standing motions as duly approved by the committee.

and that, 37(3) be added:

(3) All cheques, drafts, bills of exchange, promissory notes and other negotiable instruments must be signed by a designated representative of the committee, being a member or employee of the association, duly approved to the task of operating a financial facility by the committee.

and that, 18(a) be replaced with the following text:

(a) that all money due to the association is collected and received, that all payments authorised by the association are made and that correct operation of the association's financial facilities is maintained, and

Old Text

37 Funds - management
...
(2) All cheques, drafts, bills of exchange, promissory notes and other negotiable instruments must be signed by any 2 members of the committee or employees of the association, being members or employees authorised to do so by the committee.

18 Treasurer
It is the duty of the treasurer of the association to ensure:
(a) that all money due to the association is collected and received and that all payments authorised by the association are made, and
(b) that correct books and accounts are kept showing the financial affairs of the association, including full details of all receipts and expenditure connected with the activities of the association.

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