Branch Bylaws

FINANCE

65.    The Executive Director and the Branch Secretary-Treasurer are responsible for the general banking business of the Branch.  They will ensure that all monies received by the Branch are deposited in an account in the name of the Branch in a financial institution approved by Branch Council, and that all disbursements are made from that account.  Monies surplus to the immediate requirements of the Branch may be invested in accordance with investment policies established by Branch Council.  
    
66.    All cheques, drafts and other negotiable instruments drawn on an account of the Branch will be signed on behalf of the Branch by the officer or officers designated by the Branch Executive Committee for that purpose.  All cheques, drafts and other negotiable papers intended for deposit to an account of the Branch will be endorsed on behalf of the Branch by an individual or individuals designated by the Branch Executive Committee for that purpose.  
    
67.    The Branch Secretary-Treasurer and the Executive Director will consult with each other and jointly prepare an annual budget for approval by Branch Council and, upon approval being given, the Branch Secretary-Treasurer will file a copy of the budget with the Executive Director of the Association pursuant to the Regulations of the Association.  

68.    The Branch Secretary-Treasurer will oversee the preparation of an annual review engagement or audited financial statement for the fiscal year.