Powers, Functions and Duties of the Treasurer

(i) The Treasurer shall be the financial officer of the Society and shall, subject to the provisions of the Act, the Rules, Government directions and these Bye-laws, supervise and monitor the financial affairs of the Society and ensure proper financial management, accountability and transparency.

(ii) Without prejudice to the generality of clause (i), the Treasurer shall—

(a) supervise the maintenance of the books of account, financial records and other accounting documents of the Society and ensure that they are complete, accurate and updated;

(b) ensure that all receipts, payments, investments and financial transactions are properly accounted for and carried out in accordance with the Act, the Rules, these Bye-laws and the resolutions of the Committee;

(c) supervise the preparation of the Annual Budget, financial statements, balance sheet, income and expenditure account and other financial reports required under law;

(d) monitor the collection of maintenance charges, contributions and other dues payable to the Society and periodically review the financial position of the Society;

(e) supervise the operation of the Society's bank accounts, investments and statutory funds and ensure that they are managed in accordance with law and the resolutions of the General Body;

(f) ensure that payments are made only after due sanction and in accordance with the financial powers delegated under these Bye-laws;

(g) coordinate with the Statutory Auditor, Internal Auditor and other financial professionals and ensure timely completion of audit and compliance with audit observations and rectification reports;

(h) review the financial risks, outstanding liabilities and contingent liabilities of the Society and place significant matters before the Committee;

(i) ensure compliance with all statutory financial requirements, including taxation, deductions, statutory payments, filing of financial returns and maintenance of financial records under applicable law;

(j) place before the Committee and the General Body such financial statements, reports and information as may be required under the Act, the Rules and these Bye-laws;

(k) perform such other financial powers, functions and duties as may be assigned by the Committee or required under the Act, the Rules, Government directions and these Bye-laws.

(iii) The Treasurer shall not—

(a) authorise or permit any expenditure or financial transaction contrary to the Act, the Rules, Government directions, these Bye-laws or the resolutions of the General Body or the Committee;

(b) permit any Society funds to be utilised for purposes not authorised by law or by the resolutions of the General Body or the Committee;

(c) suppress, alter or misrepresent any financial record, account or statement of the Society; or

(d) fail to promptly report any financial irregularity, fraud, misappropriation, loss or material financial risk coming to his knowledge to the Committee

(iv) Every office bearer shall discharge the duties assigned to him under the Act, the Rules, Government directions and these Bye-laws honestly, fairly, diligently, transparently and in good faith and shall remain accountable for any act of commission or omission attributable to the duties of his office in accordance with the provisions of the Act and other applicable law.