15 - Finance

(A) The Management Committee shall determine with which bank or other financial institution the funds of the Competition will be lodged.

(B) All expenditure more than £ [2,000] shall be approved by the Management Committee.

(C) The financial year of the Competition will end on [the 31st of May].

(D) The books, or a certified balance sheet, of a Competition shall be prepared and shall be audited/verified annually by a suitably qualified person(s) who shall be appointed at the AGM.