Disability Labour recognises the need to improve and tighten up our banking procedures to be more specific, accountable and to address modern online banking techniques.
We therefore agree that section I(1) be amended and a new sections I(1b) to I(1d) be added to our constitution as below:
(1) An account will be maintained in the name of Disability Labour at a bank agreed by the executive committee. Four cheque signatories will be nominated by the Committee (one to be the treasurer). The signatories must not be related nor members of the same household.
(1a) All payments must be signed by two of the signatories, one of which to be the treasurer.
(1b) For BACS payments, cash withdrawals, debit card payments or cash payments, a requisition note must be signed by two signatories one of which to be the treasurer.
(1c) Records of income and expenditure will be maintained by the treasurer and a financial statement given at each meeting.
(1d) The income and expenditure records will be independently audited in good time for the AGM, and included in the printed and online annual report.