FBO No. 1 and No. 2 accounts are in the local org’s name, but are controlled by the joint signatures of the org FBO and A/G (or A/G F), who administer them strictly in accordance with the policies of Central Management which govern their use.

Thus the FBO account names become: FINANCE OFFICE (org name) No. 1 ACCOUNT and FINANCE OFFICE (org name) No. 2 ACCOUNT.

In the event of prolonged absence of FBO or A/G without deputy the Exec Dir may substitute as joint signer until such time as a deputy FBO or A/G can be appointed.

International signatories are:

The checkbooks for these FBO accounts are securely kept by the FBO.

Weekly and monthly financial summaries on these accounts are made up by the FBO and sent to Flag Finance Office.

The FBO No. 1 and No. 2 Accounts are part of org records as regards tax and balance sheet preparation; the No. 1 account representing all org income receipts and transfers for org expenses, WW 10%s and Management fees, and the No. 2 account representing partial payments of Management fees by means of local funds placed at the disposal of Central Management.

While they are org accounts in this regard, both accounts are used entirely at the discretion of Central Management, under whose corporate authority the FBO operates. They have no part in Org Cash/Bills figures, and are not considered to be org funds in any other sense than for accounting purposes.