Financial Policy/en

Wikimedia Serbia approved this Policy on February 11, 2018

На другим језицима: српски / srpski (sr) Wikimedia Serbia (hereinafter: Association) is a registered and independent legal entity that participates in the legal transactions under the title "Викимедија Србије" and "Wikimedia Serbia" and use a round seal on which is inscribed: "Викимедија Србије Београд" along with the stylized human figure centered. Financial operations of the Association are in accordance with the law and transparency. Financial policy is regulated by the applicable regulations, policies and Bylaws. Funds Funds are obtained from membership fees, voluntary contributions, donations and gifts, as well as applying for financing of the projects of the Association and the administrative costs of the Association. The acquired funds can be transmitted to the other non-profit associations. All funds will be used for the realization and promotion of the Association's goals, and performance of activities envisaged by the Statute and the decisions of the Association bodies. The decision on the amount of membership fee, dynamics and exemption from payment of membership fee is made by the Board of directors. Payments are made through the account of the Association. The procedures of financial operations The goals of defining procedures of financial operations is to determine the rules of the financial operations and obligations of the participants of the financial operations, in order to provide more effective mission fulfillment. The participants of the financial operations are: financial principals, financial executives, funds users, Board of directors and Association's assembly. Financial principals represent persons and bodies of the Association who are authorized to make decisions on the use of funds of the association. Financial principals are the Board of directors, Executive Director, project leaders and other persons and bodies to which these decisions are delegated. Financial principals are required to dispose with assets of the Association in good faith, in accordance with the budget they have been allocated and the corresponding project plan. Financial executives are the persons authorized to access the accounts of the Association of banks. Financial executives manage with Association's funds in accordance with the decisions of financial principals. Financial executives are required to ensure that the funds are used in accordance with the decisions of financial principals, budget and project plan, and to make proper and updated records on the use of financial resources. Financial executives are bound to promptly delivere copies of all bank statements to the Board of Directors in which there have been changes. If necessary, financial executives, with a copy submitted to the Board of Directors, will also delivere explanations on the nature of transactions from that copy. Not later than 10 days following the submission of statements, financial executives are required to join a copy of the relevant scanned receipts for all transactions from that statements. In exceptional situations, when the receipt is not submitted within 10 days, the financial executive is obliged to explain to the Board of Directors why the receipt has not been submitted. Funds users are all persons who, within the projects or other Association's activities, use Association's financial resources, including funding for travel expenses, purchasing of consumables and other materials and paying services. Persons who are paid from the funds of the Association for the goods and services in accordance with the agreement signed with the Association, or if their merchants are issued by the appropriate receipt, in the context of this policy are independent parties and therefore they are not considered as funds users. Users of the funds duly submit fiscal receipts and invoices to the financial executives on the basis of which they later make a refund to the users. If the receipt or invoice is not good by the accounting principles by any case, the refund can not be done. In the case of an business trip, the funds user can get advance payment with the obligatory signing of the receipt. The user is obliged to use funds in accordance with the orders of the financial principals and to collect the necessary invoices. All the unused funds and collected invoices are required to be handed over to the financial executive within 5 days from the date of the end of the business trip, unless the longer term is approved by the Board of Directors. The funds users are not obliged to submit invoices on funds received on the basis of per diems. On the users request, financial executive is obligated to issue a decree on the confirmation of the returned financial funds. If financial principal and executive estimates that the funds were spent inappropriately or excessively, the amount of funds spent outside the written or verbal order of financial principal can not be refunded. If these funds are paid in advance, the user of funds is obligated to return these funds to the financial executive. The Board of directors continuously monitors the financial operations of the Association and, where appropriate, give orders, guidance and advice regarding the use of funds to other financial principals and financial executives. The Board of directors submit financial reports to the Assembly of the Association. Upon the request of the Assembly, the Board of Directors is obliged to make available bank statements for all accounts of the Association, as well as all scanned accounts that accompany them. At least once a year, the Board of directors publish financial report on the website of the Association. The level of detail of the report available to the public is determined by the Board of directors, bearing in mind that the financial operations are public in general. The parts of the financial report can be less detailed if legal or other objective reasons, like signed contracts of confidentiality of business data, require. Association's assembly considers and approves the financial report submitted by the Board of Directors once a year. At least once a year, and more often if necessary, association's Assembly considers the The Board Practices Report on the expenditure of funds. Termination of the Association and the treatment of assets in case of termination The Association terminates by the Assembly decision, as well as in other cases provided by law. In case of termination, property of the Association shall be transferred to a local non-profit entity established to achieve the same or similar objectives as determined by the Assembly decision on the termination of the Association. Exceptions are assets in which the contract specifies what to do with them in case of dissolution of the Association. Additional regulatives Financial operations perform and financial documents process authorized financial expert individuals and legal entities, with whom the Board of directors concludes the work contract, in accordance with the Privacy Policy and the Staff Policy. These persons are obliged to submit a report to the Board of Directors every three months. The Board is authorized to require reporting in the short term, as well as to require direct access to financial documentation, through authorized representatives, in accordance with the Privacy Policy. Changes and updates The valid Financial Policy is published on the website of the Association. This Financial Policy may be changed at any time without prior notice. Such changes shall be announced on the mailing list of the Association. In order to stay informed about any changes to this Financial Policy, the periodic review is advised.