Rain Out Line

403-670-5485

Our Founding Partners

3688 48 Ave NE, Calgary, AB T3J 5C8

info@challengerpark.com

(403) 250-2707

© 2019 Calgary Rotary Challenger Park

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Overview Financial

Intent

The Board is responsible for ensuring the financial stability and viability of the Society. The effective acquisition, allocation and use of funds determine the extent to which the goals and objectives of the Society are achieved.

Guidelines

  • Board members are responsible for the overall financial health of the Society (Note:  ED is responsible for the financial management of the Society)

  • The Board develops financial policies that define its role in the financial management functions of the Society

Procedures

  • The Board is responsible for securing adequate financial resources for the Society

  • The Board is responsible for reviewing and approving the annual operating and capital budgets

  • Where anticipated overall expenses exceed the limits set within the annual budget, the ED must bring this matter to the attention of the Board for discussion and resolution

  • The Board ensures that funds are used by the Society for the purpose intended

  • The Board ensures the development of financial management and internal control systems

  Cross-reference guide:

 

  • Bylaws – Sections 6.01, 14.08 & 16

  • Societies Act – Regulation 122/2002 – Section 1(4)

  • Fund Development Policy