ARTICLE 20: FINANCING, SPONSORSHIP & BORROWING
Posted: Wed Sep 10, 2025 10:58 am
ARTICLE 20: FINANCING, SPONSORSHIP & BORROWING
20.1 Borrowing:
The Club may borrow funds only for legitimate Club purposes and only with the written consent of the President and Vice-President.
All loans must be taken in the name of the Club and recorded in the Account Register.
20.2 Sponsorship & External Funding:
Any surplus funds at the end of a financial year shall be utilized for the Club's development, purchasing new equipment, and ensuring long-term sustainability.
20.1 Borrowing:
The Club may borrow funds only for legitimate Club purposes and only with the written consent of the President and Vice-President.
All loans must be taken in the name of the Club and recorded in the Account Register.
20.2 Sponsorship & External Funding:
- All sponsorship must be approved in writing by the Leadership.
- Sponsorship funds must be deposited directly into the Club's bank account.
- Sponsors must not influence race outcomes, club policies, or committee decisions.
- All sponsorship agreements must be documented in writing.
Any surplus funds at the end of a financial year shall be utilized for the Club's development, purchasing new equipment, and ensuring long-term sustainability.