ARTICLE VIII

Fiscal Years and Finance

Section 1: The fiscal year of the VSUK shall be the calendar year 1 July to 30 June.
Section 2: The Executive Committee shall be responsible for the finance of the VSUK
Section 3: A bank account in the name of the VSUK shall be opened in a National Bank.
Section 4: The account shall be operated by the President of the Treasurer.
Section 5: The fiscal accounts of the VSUK shall be audited by the auditors appointed by the Executive Committee.
Section 6: Any expenditure of the funds on behalf of the VSUK shall be incurred within the general guidelines set forth by the Executive Committee.
Section 7: All expenses incurred on behalf of the VSUK shall have the final approval of the Executive Committee.
Section 8: All the charitable funds may only be expended in furtherance of the association’s charitable objectives.