The first one is the first one, the second one is the first one, and the second one is the second one. The General ledger of the association is done by the treasurer. He keeps a detailed register of all income, expenses, and receipts and payments with the bank account. Wikimedia Belgium does not use cash, nor bank neither credit cards. All transactions are made through the bank account. In this way, a simple follow-up is possible.
A detailed overview is always available with a follow-up of the current budget, and a reporting of income, expenditures, potential provisions, financial planning, and the current balance sheet.
The bank statements are kept as PDF and in Excel, which allows for easy reporting and reconciliation.
The accounting year ends on 31 December.
At the General Assembly 2019 the members of the association decided that a accounts committee will be appointed, which will assess the financial situation in detail and report to the members of the general assembly at the end of the accounting year. The members of the general meeting have such a delegation, which can control the board before they discharge the board from any further liability ("discharge").
Cash Committee 2019
Two members applied for the position of audit committee member in the ALV 2019:
They will carry out an internal financial audit for the 2020 ALV, thus reporting on revenue and expenditure, and on the association's financial balance sheet in 2019.
The aim is to provide efficient and correct evidence to the general assembly about the financial health of the association and to ensure general transparency.
- Review of all expense notes, invoices, payments
- Review of income and expenditure
- Review of the balance sheet
- Review of the financial reporting (annual reporting, project reporting)
- In Belgium, a statutory auditor is only required for large non-profit organisations (50 employees, turnover of € 9 million, balance sheet total of € 4.5 million). The position of statutory auditor is a legally protected title; the person must be a member of the Institut des Reviseurs d'Entreprises. Nevertheless, it is useful to appoint a neutral committee (exluding board members) even in small non-profit organisations in order to prevent financial abuse.
- Should a non-profit organisation appoint a statutory auditor?. VSDC - Frequently asked questions