(Refs:
Finance Office 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 Finance Enforcement Officer who administer them strictly in accordance with the HCO Policy Letters 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 Fin. Enforcement Officer without deputy, the CO/ED may substitute as joint signer until such time as a deputy FBO or Fin. Enforcement Officer can be appointed.
International signatories are
The checkbooks for these FBO accounts are securely kept by the FBO.
Weekly financial summaries on these accounts are made up by the FBO and sent to Continental and Int Finance Offices. Monthly, quarterly and annual audits on these accounts are the responsibility of Department 9, however it also remains a Finance Network responsibility to see that these do occur and to personally produce them in default of Department 9 with Danger conditions assigned and enforced if such bypass is required.
The Finance Office No. 1 and No. 2 Accounts are part of org records as regards tax and balance sheet preparations; the No. 1 Account representing all org income receipts and transfers for org expenses, 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 the FBO. 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.