Funds

 

The Buddies Refugee Support Group Ltd undertakes a variety of activities to provide practical support for asylum seekers and refugees. These activities often incur a financial cost – for example, expenditure associated with running the Living in Australia Program for refugees twice a year (e.g. travel, classroom consumables, a zoo visit, a lunch at the beach).  

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Recently, through the Community Refugee Integration and Settlement Program (CRISP), Buddies has also helped a Syrian family settle on the Sunshine Coast. Beyond these major activities, Buddies also engages in community education about refugees and people seeking asylum – for example, within schools, through film nights etc – and for these there is often a small cost involved.

    In addition to these costs, funds are also required to meet annual expenses and public liability costs. Buddies funding is raised by way of membership fees, collecting donations at meetings, one-off and regular direct debit donations and through specific fundraising activities and events.

 

ADMINISTRATION OF FUNDS 
The funds are administered by a Finance Group, consisting of 4 members who are voted in at the Buddies AGM. Should a replacement person be required prior to the AGM, they may be appointed by the Directors as an interim Office Bearer until confirmed at the AGM.

    The Finance Group receives requests for funds, makes recommendations for the disbursing of these funds in consultation with the Board of Directors and is responsible for this disbursal. At the time of writing (March 2024) the Treasurer is a member of the Finance Group and oversees the receipt and proper payment of funds. 
 

ALLOCATION OF RESPONSIBILITIES 
The Treasurer, or, in the absence of the Treasurer, members of the Finance Group, are responsible for record keeping, banking, issuing receipts, writing letters relating to financial matters and preparing financial reports.   
 

FINANCIAL REPORTING 
The Finance Group, through the Treasurer, presents a monthly report at each Buddies meeting, and a full annual report at the end of the financial year. A link to these reports is also provided in the Bulletin. If no face-to-face meetings are held, the Treasurer will email the statement of account to the Directors and Finance Group as soon as possible following the end of the month under review.

    Any financial member of Buddies is welcome to request a copy of the statement of account at any time.    
 

ACCESS TO FINANCIAL RECORDS 
Any financial member of Buddies can request an examination of the financial records at a mutually convenient time.   
 

ANNUAL INFORMATION STATEMENT 
Buddies Ltd is required to submit an Annual Information Statement to the Australian Charities and Not-for-Profit Commission, which includes financial information.  At the time of writing (March 2024) the report must be submitted to the Commission by 31 January following the end of the Financial Year under review. 
 

ENQUIRIES

If you have any queries about finances, please email treasurer@yahoo.com.     

 

(Revised March 2024)