Financial Reports

[locky801]

Not sure if this is the right thread to post this but couldn't find a Financial Thread on here.

As far as AGM's go, does the body that holds the meeting have to actually stand up and advise the members of the status of the club/business finances and explain various areas or does an abberviated handout to members suffice. was at a meeting the other day when the board handed out an abridged finance report and a member went beserk stating that by law they have to verbally advise of the finances.

Any information/ideas would be appreciated

[mickey]

Im pretty sure it would depend on the constitution of the club etc...

I know at Seaton Ramblers, its a full statement of the financial position..

But all depends on how full u want i guess.. eg, in a football club, a Full statement could be just the areas in what money was spent etc, ie players, medical etc.. or full as in who got what