Financial Transparency 💳

Neuroclacks Financial Transparency Policy

1. Purpose This policy ensures that Neuroclacks maintains a high standard of financial transparency, accountability, and integrity in all financial matters. It outlines how funds are managed, reported, and disclosed to maintain trust among members, donors, and the wider community.

2. Financial Accountability Neuroclacks is committed to:

• Responsible management of all financial resources.

• Clear and accurate financial record-keeping.

• Regular financial reporting to ensure accountability.

• Compliance with all relevant legal and regulatory requirements.

3. Financial Management Practices

• All income and expenditures must be documented with receipts and recorded appropriately.

• A designated treasurer or finance officer will oversee financial transactions and reporting.

• Any use of funds must align with Neuroclacks’ mission and objectives.

• No individual may personally benefit from Neuroclacks’ funds beyond approved expenses.

4. Transparency and Reporting

• Financial reports will be reviewed regularly by the committee.

• An annual financial statement will be prepared and made available to members upon request.

• Fundraising income and grant allocations will be publicly disclosed to promote trust and openness.

5. Use of Funds

• All expenses must be pre-approved by the committee or relevant finance officer.

• Reimbursement for personal expenses related to Neuroclacks activities requires proof of purchase and committee approval.

• Funds will not be used for personal gain or non-organizational activities.

6. Handling Donations and Grants

• All donations and grants must be recorded and acknowledged.

• Restricted funds must be used for their intended purpose and not reallocated without donor approval.

• Anonymous donations will be accepted only if they comply with ethical guidelines and legal requirements.

7. Fraud Prevention and Misuse of Funds

• Any suspected misuse of funds will be investigated and addressed immediately.

• Financial decisions will be subject to a dual-approval process to reduce fraud risk.

• Members who engage in financial misconduct may face disciplinary action, including removal from the committee.

8. Review and Amendments This policy will be reviewed annually or as required to ensure it remains effective and aligned with best practices.