OPERATING PROCEDURE OP  19					BRITISH WHEEL, OF YOGA
	Financial Guidelines		Section		Sheet Number	Date of Issue     7.4.1997
	Regional Funds		01		1of 1	Revised:    February 2003
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		EASTERN REGION ~ LOCAL ISSUES: Please note there are two documents concerning finance issued by Eastern Region: [a] Financial Aid and  [b] Best Practice regional events. Both should be read in conjunction with this document.
	1.0	PURPOSE
		Guidelines for Regional Treasurer and Regional Funds.
		Detailed below are the suggested operating parameters for the regional administrators. These guidelines should give everyone involved in expenditure on behalf of the region clear direction in order to enable them work for the benefit of the region.
	2.0	INDEX:
		1.0 Purpose. 2.0 Index. 3.0 Administration. 4.0 Misc Expenses. 5.0 Funds/Banking.
	3.0	ADMINISTRATION
		It is necessary that we keep accurate records both at National and Regional level. It must be remembered that the British Wheel of Yoga is a Charity and as such comes under the jurisdiction of the Charity Commissioners and legally must comply with the Charities Act.
	3.1	All Regional Procedures should comply with and reflect the systems laid down in the BWY Constitution. Legally the BWY ([Executive Committee/ Trustees) have the ultimate responsibility for regional funds
	3.2	The regional funds are to be used for the benefit of the Region to offer support and allow development for all aspects of B.W.Y. activities in the area.
	3.3	The work done for the region is unpaid but we do not expect any officer in the region to be out of pocket due to their Wheel activities. This applies to the Regional Committee, Training Officer and any member who carries out work for  the region at the request of the above named officers.
	3.4	Please keep the information to the Treasurer itemised. Where possible add the receipts to the claim. It is suggested that claims are made every 3 to 6 months and well before the end on the account year.
	3.5	'File Regional Treasurer will liaise with the R.O.'s for a physical stock audit annually
	3.6	The regional treasurer has an obligation to advise the regional officer of any areas of concern regarding tile region's finances
	4.0	MISCELLANEOUS EXPENSES
		Not all expenses can be easily identified or receipts obtained. For example: travel, sundries, etc. You work on trust but where possible include receipts with a claim form. Wherever possible get registered with MCI WorldCom (1660) via Central Office.
	4.1	There are many goods offered by B.W.Y. Services ranging from leaflets, books, T-shirts, sweatshirts, yoga mats. etc. If you want a supply of these. order through your R.O., contact details from Central Office at Sleaford. In some cases such as yoga mats. it is best to order in Quantity.. i.e., 5's, 10's,etc. This is to save on delivery charges. The latter can be avoided by arranging collection at Congress, Main Committee Meetings, DCT September week-end, etc.
	4.2	If you order any goods there is an agreement that the Region will  pay for the total bill straight away. This is to ensure efficient cash flow for BWY Services. What this means is that the Regional Treasurer pays the bill immediately, and you ,send the money to him when the goods are eventually sold. Payment with order also means a 10% discount on many items. but not blocks.
	4.3	Please try to keep tile headings separate and do not mix-up seminar monies. postage, BWY Services, etc. Note: Where we may be dealing with many teachers in the region it is likely that on items such as leaflets, accounting is going to be difficult. We are just going to have to do the best we can and expect that in areas of advertising, etc, there is going to be some wastage.
	5.0	FUNDING/BANKING
	5.1	Monies coming in from Regional/County events are the property of the region
	5.2	All monies must be banked via the Regional Treasurer. It is a stipulation that all cheques must countersigned. It is suggested that all regions have a minimum of three authorised signatories
	5.3	A financial statement must be submitted by the Regional treasurer to the Regional AGM for approval and a copy forwarded to the National Treasurer. The latter is for information only.
	5.4	The yearly accounts must be prepared for the 31st  October, independently audited and signed by the Regional Officer then forwarded to the National Treasurer by stipulated date. Incomplete, incorrect and late receipt by the National Treasurer will incur a penalty.
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		ADDENDUM /11/9/2002
		To:       Regional Treasurers		Regional Finance		11 September 2002
		From   Ronald Anlauf		Policies & Procedures
		BANKING
		Bank accounts with BWY funds should only be held in a specific BWY account Regional Treasurers are responsible for all finances in their Region - review necessity of CR accounts petty cash There is currently, no need to accept bank charges - switch bank if necessary BWY is a charity, and therefore upon application entitled to interest without deduction of tax It is recommended to have three signatories., and two are required to sign cheques drawn on BWY accounts
		INCOME
		All cheques received should be made payable to BWY (full BWY account name) All income related to BWY events needs to be paid into the BWY account and entered into the annual accounts Regional Transfer from national funds in advance in December based on ongoing subscription income per end October - changed from per capita to 9% from 2002/03:
		EXPENDITURE
		It is recommended to have three signatories with two required to sign cheques drawn on BWY accounts Personal expenses can only be paid against receipts/bills incl. of telephone (exception: mileage, no petrol receipt required) Bills should only. be paid against received and approved invoices Bills from BWY Services should be paid in advance to obtain discount, particularly towards the year-end All expenditure related to BWY events needs to be accounted for - no accounting of net result only Capital equipment costing more than £250 per item can be paid from National Funds, provided the National Treasurer has been consulted and the Region makes a donation to national funds for the net value. Invoices, be made out to BWY, Sleaford. will be paid when due or after Region's donation has been received. The National Treasurer will add the capital item to the national inventory list and circulate relevant parts of it for signature to officers holding capital items belonging to The Wheel. events Mileage allowance 25p           Authorised Mileage Rates 2002/03 in pence/mile (formerly Fixed Profit Car Scheme):                                  < 1 0,000m         1 0,000m+        total business travel per annum      Cars. vans                40                     25                          + 2p for each passenger carried to encourage car sharing        Motorcycles: 24p      Bicycles: 20p      Volunteers are able to claim the difference to 25p paid by BWY in their Tax Return.
		ACCOUNTS
		ACCOUNTS Fiscal year runs from 1 November to 1 October the following year BWY Regions with income of up to £100,000 prepare accounts on of receipts and payments., show income only if it has been received and banked (i.e. shown on statement) by 31 October; similarly.. expenditure should have been paid by the same date. Otherwise, these income and expenditure items need to be entered in the following year. Balance Sheet * Investment: value of any shareholding; obtain evaluation letter from company * Total Closing Stock: as per physical stock take (BWY Services and others); enter same amount in EXPENDITURE : * Total Closing Stock Current Year End   Amount owed to BWY Services: unpaid bills for goods received; this is needed for reconciliation with B W Y Services. enter any other unpaid amounts to other suppliers in the year in which they are actually paid   Expenditure * Total Closing Stock Current Year End: negative value of Total Closing Stock from the BALANCE SHEET of the      same year * Trustees Fees for Events/Training Days" should only be entered if they have been paid from BWY funds * Trustees Personal Expenses Reimbursed" should only include travel, meals, accommodation and    telephone. Other trustees' expenses are to be allocated under other relevant expenditure headings.    Trustees are all those Officers who are a member of the Executive at the time the expenditure/fee is     incurred. * Bank account balances etc. need to be in line with bank statements/investment evaluation letters and    complete for all accounts; enclose a COPY (no originals!) of all accounts held by the Region. showing     the balance per 31st October. *  Forms with cheque reconciliation on back page are provided by National Treasurer, need to be signed by     RO. Regional Treasurer and Independent Examiner - arrive at Natl. Treasurer on 15 December *  BWY County affairs that are not incorporated in Regional Accounts need to do their own accounts. Have     them examined independently and submitted to the Regional Treasurer in time for consolidation *  Adopt Annual Regional Accounts at AGM and publish in Regional Newsletters
		PLANNING
		* Regional Development Plans should be drawn up for the four years following the next 1 November * Annual review - add one year and submit by 3 W June to Chair and National Treasurer * Measure performance against budgets to improve allocation of limited resources and future planning
		V.A.T.
		* Regions are outside BWY VAT registration; VAT incurred cannot be reclaimed. This may change once a Region has    passed the turnover threshold of currently £54,000 or for BWY strategic reasons
		GENERAL
		*  Although Regional Treasurers are volunteers, we need to do our job as professionally as possible *  We need to offer our members value for money *  Use resources (human and finance) prudently to further the objectives of BWY *  We are dealing not with our own money but with that of our members *  The Charity, Commission expects proper records and controls *  The Sports Councils impose strict rules due to our governing body status
		Remember: We are not dealing with our money but with that of our members.
		EASTERN REGION ~ LOCAL ISSUES: Please note there are two documents concerning finance issued by Eastern Region: [a] Financial Aid and  [b] Best Practice regional events. Both should be read in conjunction with this document.
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