Section 1. The fiscal year of the PMISCC shall be from 1 October to 30 September.
Section 2. Annual membership dues shall be set by the Board and communicated to PMI in accordance with policies and procedures established by the PMI Board of Directors.
Section 3. The Board shall establish policies and procedures to govern the management of its finances and shall submit required tax filings to appropriate government authorities.
Section 4. All dues billings, dues collections and dues disbursements shall be performed by PMI.
Section 5. PMISCC’s budget shall be an annual budget, recommended by the VP, Finance and approved by the Board of Directors. The annual budget for the succeeding year shall be submitted in draft form not later than the Board of Directors Monthly Meeting immediately preceding the Annual Business Meeting of the PMISCC.
Section 6. Accounting for the finances of the PMISCC shall conform to the recommended practices of the appropriate Accounting Standards. The VP, Finance shall submit periodic statements of account to the Board of Directors.
Section 7. Checks must be co-signed by at least two signatories. These signatories shall be the President and VP, Finance or their authorized representatives.
Section 8. PMISCC shall at each annual meeting appoint an Auditor to hold office until the next annual meeting and his appointment, remuneration and duties shall be regulated by the Companies Act 1995.