BRANCH FINANCES

6.1 SOURCES

In addition to paying all dues and subscriptions prescribed by the National body, all members of the Port Harcourt Branch. Shall be required to contribute to the branch’s finances by way of:

6.1.1 Annual Dues
Dues payable for various grades shall be determined by the Exco and ratified by the General House from time to time.

6.1.2 Levies
These will be for specific purposes and will be determined by Exco and ratified by the General House.

6.1.3 Fees

6.1.4 Donations

6.1.5 Commissions


6.2 FINANCIAL AUTHORITIES

6.2.1 Exco
The branch Exco shall have powers to authorize or approve all expenditures above N50,000.00.

6.2.2 Chairman:
The chairman shall have powers to authorize and also incur expenditure of up to a maximum of N50,000.00 without reference to Exco.

6.2.3 Imprest:
The Secretariat shall maintain a re-imbursable or monthly imprest account of N50,000.00


6.3 PAYMENTS

6.3.1 Authorized Signatories
The authorize signatories to the Branch Bank Account shall be the Chairman, Treasurer and Secretary.

6.3.2 Cheques
All payments to outside bodies shall as much as possible be made by Cheques duly signed by the authorized signatories to the branch Bank Accounts.

6.3.3 Cash Payments
Cash payments shall as much as possible be limited to internal transactions.