Page 10 - TheScoutBahamasBylaws.cdr

Article 8 Finances and Property

Section 1 Raising Funds

1 All monies raised by or received for the benefit of The Scout

Association of The Bahamas or a group under its jurisdiction

and all property acquired by The Scout Association of The

Bahamas shall be deemed to be received for the benefit of
Scouting as interpreted and promoted by The Scout Association

of The Bahamas in accordance with the Bylaws and procedures

from time to time adopted by The Scout Association of The
Bahamas.

2 Subject to the Bylaws of The Scout Association of The

Bahamas, the National Executive Committee shall control the

raising and expenditure of all funds for local Scouting work

with in the territory of The Scout Association of The Bahamas.

3 Any group under its jurisdiction shall have any authority to

bind The Scout Association of The Bahamas to any financial

obligation whatever.

Section 2 Control of Funds and Property

Budget

1 The National Executive Committee shall be preceding the
commencement of each fiscal year, consider and adopt a budget of estimated
expenditure by The Scout Association of The Bahamas for such fiscal year.
No funds shall be expended without the National Executive Committee for

any item not covered by or in excess of the amount authorized by the budget

for such a year.

General Funds

1 All funds of The Scout Association of The Bahamas or funds handled on

behalf of The Scout Association of The Bahamas from whatever source and
for whatever purpose received shall be deposited to the credit of The Scout
Association of The Bahamas in such depositories as shall be approved by the
National Executive Committee. The funds shall be disbursed only upon the
authority of the National Executive Committee or upon the order of officers

of The Scout Association of The Bahamas duly authorized by The National

Executive Committee, or in any event the signatures of at least two
authorized persons shall be required for the dispersal of funds.