Club Bank Accounts

ROTARY CLUB OF WITNEY

Club Bank Accounts & Use of Club Funds

The club keeps its funds in 3 bank accounts.  This paper explains what they are, for what these monies can be used and who signs cheques.

1.    Trust Fund – these are charitable monies (mainly raised by the club in running a variety of fund raising activities) and can only be used for charitable purposes.  Much of the money is earmarked and can only be used for particular charitable activities.  Sunshine box monies are kept in this account but a separate record is kept so that donations can specifically be made out of this money if required.

Signatories on this account are Chris Brown, Chris Dyer, John Simpson and Mike Alexander.  Cheques need to be signed by any two of these four.

2.    Draw Account – this is the profit from the 49 club draw run for the club by Brian Ford and is not charitable money.  These monies can be used in any way that members see fit and are often used to support the club’s work, eg by purchasing banners to publicise our work.

3.    Club account – members subscriptions are paid into this account, the money is used to pay for the running expenses of the club including Rotary GB&I and District Dues..

Signatories on both the Draw Account and the Club Account are Ashley Farmer, Steve Holborough, Michael Brown and Mike Alexander. The signature of any one of these is valid for cheques up to and including £200.  For larger amounts the signature of any two is required.


It should be noted that up until 1 July 2015 a separate Sunshine Box account was maintained.  This was closed and Sunshine Box monies are now paid into the Trust Fund account so as to maximise the amount of Gift Aid recovered.


Mike Alexander,
Treasurer 18/9/15