SOTTUC Draft Constitution. - Taita Taveta University College

8.0 ORGANIZATION FUNDS
ARTICLE IX: FUNDS
The funds of the organization shall comprise of:-
(i)
(ii)
(iii)
(iv)
(v)
Subscription from members;
Donations, gifts and grants;
Such monies or assets as may accrue to or vest in the organization in the course
of the exercise of its powers or the performance of its functions under this
Constitution; and
All monies from any other sources provided for or lent to the Organization.
Business activities and fund raising.
The funds of the organization may be used for the following purposes:-
• Recurrent expenses;
• Capital development;
• Operations and maintenance costs; and
• To facilitate furtherance of the Organizations objects.
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
Each student shall pay an annual subscription fee to be determined by the
Student Governing Council or Campus Council in consultation with the Vice-
Chancellor.
The student fund account shall be in the custody of the University Finance
Officer.
Withdrawal from the students’ funds shall be made only against the joint
signatures of all the four signatories.
Requisition of any money shall be submitted to the finance office through the
Dean of Students.
Administration of such funds shall be carried out by the Finance Secretary in
consultation with the Finance Committee, on behalf of the Main Council.
All financial records shall be kept by the Finance Secretary.
Individual clubs and societies may be given financial subsidy if deemed
necessary. Such subsidy will depend on the need and shall be approved by the
Finance Committee in consultation with the Executive.
The maximum expenditure from the fund for each academic year shall not
exceed the total revenue for that year.
Any funds raised from students' activities organized by the Student Governing
Council shall be reverted to SOTTUC account, and appropriate entries must be
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