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Principality of Tir Righ Financial Policy

 

 

I.    INTRODUCTION

 

  1. 1.      The following Principality of Tir Righ Financial Policy (Financial Policy) serves as an addendum and is subject to the requirements set forth by the Society for Creative Anachronism, Inc. (SCA) Financial Policy, Kingdom of An Tir Financial Policy, SCA Corpora and By Laws, the Laws of the Kingdom of An Tir and the Laws of the Principality of Tir Righ.

 

  1. 2.      This Financial Policy should be revised whenever changes in Modern Law, the SCA governing documents and Policies, the Laws of the Kingdom of An Tir and Kingdom of An Tir Financial Policy, the Laws of the Principality of Tir Righ, the needs of the Kingdom or Principality, or agreement between the Council of the Exchequer, the Kingdom Chancellor of the Exchequer (Kingdom Exchequer) and/or the Society Chancellor of the Exchequer (Society Exchequer) so require.

 

  1. 3.      In the event of a conflict between this Financial Policy and modern law, SCA governing documents and Policies, the Laws of the Kingdom of An Tir or the Kingdom of An Tir Financial Policy, the modern, SCA or Kingdom document shall take precedence.

 

 

II. THE FINANCIAL POLICY

 

  1. 1.      The Financial Policy shall be published in its entirety each year by May 1, in conjunction with the Laws of the Principality of Tir Righ.

 

  1. 2.      The Financial Policy may be amended by the Council of the Exchequer.

 

 

III.             FINANCIAL COMMITTEE

 

The Council of the Exchequer (Council) is the Principality level Financial Committee and consists of the Coronets, the Tanist and ban-Tanist when invited by the Coronets, the Principality Seneschal and the Principality Chancellor of the Exchequer (Exchequer). All members of the Council bear jointly the fiduciary responsibility of managing the Principality’s assets.

           

  1. 1.      All decisions and approvals of the Council must be made by consensus. If consensus cannot be reached, the decision will be tabled and revisited at a later date. If consensus still cannot be reached at a later date, then the decision will be referred to the Kingdom Exchequer. Consensus is achieved when all the members of the Council agree that consensus has been achieved regardless of the outcome of the decision being made.

 

  1. 2.      If a member of the Council is not able to attend a Coronet Event, a representative (preferably their contingency deputy) acceptable to the other members of the Council can be given the authority to make decisions in the member’s absence.

 

  1. 3.      The Council will meet at all Coronet Events.

 

  1. 4.      Annual budgets for the Principality including, but not limited to, the Coronets and Principality Officers, special purpose funds, additional policies as needed, and any changes to these budgets, funds or policies must be approved by the Council. Copies of these budgets will be provided to the Kingdom Exchequer.

 

  1. 5.      All expenditures exceeding the limits of the Principality budgets must have prior approval by the Council. Any funds remaining at the end of the year will be directed back to the General Fund unless specifically stated otherwise in the budget, or by action of the Council.

 

 

IV.              BANK ACCOUNTS

 

The policy set forth in the Kingdom of An Tir Financial Policy will be accepted as standard policy in Tir Righ in regards to bank accounts.

 

 

V.  REPORTS

 

  1. 1.      Financial reports will of consist of a signed, hardcopy “Comparative Balance Sheet” and “Income Statement” and the supporting worksheets and documentation contained and required by the most recent edition of the SCA, Inc.’s “SCA Financial Report” as available on the Society Exchequer’s website. At the discretion of the Principality Exchequer, electronic versions of the report may be emailed, with follow-up email of only the signed pages and required documentation

 

  1. 2.      Branch and Ithra campus quarterly reports must be received by the Principality Exchequer on or before the following report due dates:

 

Reporting Period

Deadline

Report Covers

1QTR

May 1

1QTR - January through March

2QTR

August 1

2QTR - April through June

3QTR

November 1

3QTR - July through September

Domesday

February 1

Domesday - January through December

 

  1. 3.      The Domesday report must be sent to the Kingdom Exchequer, to arrive on or before the February 1st deadline, with a copy to the Principality Exchequer. Branches may choose to also send their 1QTR, 2QTR and 3QTR reports to Kingdom in addition to Principality but are not required to do so.

  1. 4.      The Principality Exchequer will submit quarterly reports due May 15, August 15, November 15 and February 15 with original to the Kingdom Exchequer and copies to the Principality Seneschal, the Coronets and the Heirs (if any). These quarterly reports are to consist of the financial report package for the Principality, and a status summary of each Principality branch or Ithra campus.

 

 

VI.              COMPLIANCE WITH CORPORATE REQUIREMENTS

 

At the time of writing, the Non-Member Surcharge (NMS) was in effect. All events within the Principality which collect NMS must remit same, along with event attendance information as required, to the Kingdom Exchequer or their designated deputy within thirty (30) days after the close of the event.

 

 

VII.           EXPENSE AUTHORIZATION

 

  1. 1.      The Council will approve in advance annual and Coronet Event budgets.

 

  1. 2.      The Council must approve unbudgeted expenditures.

 

  1. 3.      Fully documented receipts must be provided to support all expenses. This rule applies to anyone expecting reimbursement.

 

 

VIII.        REIMBURSEMENT OF EXPENSES

 

  1. 1.      The Coronets and all Principality Officers will be reimbursed for reasonable office, postage, copying and electronic mail access expenses incurred in conjunction with their office. The Coronets and Principality Greater Officers will also be reimbursed for reasonable telephone and travel expenses incurred in conjunction with their offices. Expenses are subject to the limits of the Officers’ budgets and approval of the Council. Expenses will only be reimbursed within 120 days of the expenditure.

 

  1. 2.      The outgoing Royalty must reconcile all financial matters regarding travel expenses with the Principality Exchequer within forty-five (45) days of their step-down event in order to be reimbursed for expenses. No travel expenses will be reimbursed after this date.

 

 

IX.              REGALIA

 

  1. 1.      Regalia are loaned to the Coronet, their Heirs, and the Champions for the duration of their term of office.

 

  1. 2.      The Coronet and their Heirs are responsible for reasonable maintenance of Their regalia for Their office and must pass the regalia on to Their successors.

 

  1. 3.      Champions Regalia
    1. a.       Champions are responsible for reasonable maintenance of their regalia for their office and must pass the regalia on to their successors.
    2. b.      Regalia must be inventoried and a Tir Righ Regalia Acceptance form completed during the Coronet Event at which the Championship was held. The form will be kept on file with the Exchequer and the Chamberlain. The inventory and checkout process assures that there is a record of the possession and condition of the Regalia since the users may be required to replace Regalia lost or damaged during their term of office.

 

 

X.  CORONET EVENTS

 

  1. 1.      Report Deadlines
    1. a.       All final reports and accompanying original receipts for Coronet Events must be sent to Principality Exchequer within sixty (60) days of the close of the event. The current report package as available on Tir Righ’s website must be used.
    2. b.      The Principality Exchequer may waive reporting deadlines for Coronet Events if extenuating circumstances (e.g., late bills for event) warrant.

 

  1. 2.      Sharing of Event Net Profit
    1. a.       If all final reports, accompanying original receipts and seventy-five (75) percent of any profit made on a Coronet Event are sent to the Principality Exchequer within thirty (30) days, then the remaining twenty-five (25) percent of the profit may be kept by the host group. Branches may have all the profits from a Coronet Event if the net profit is less than $100 and reporting as required is completed within thirty (30) days.
    2. b.      If all final reports, accompanying original receipts and funds are returned after thirty (30) days and before sixty (60) days, then only ten (10) percent of the event profit may be retained by the host group with the remaining ninety (90) percent to be sent to the Principality Exchequer.
    3. c.       If all final reports, accompanying original receipts and funds are not returned within sixty (60) days, then no portion of the event profit may be retained by the host group and one hundred (100) percent must be sent to the Principality Exchequer.

 

  1. 3.      Sharing of Event Net Loss
    1. a.       If all final reports and accompanying original receipts are sent to the Principality Exchequer within thirty (30) days, then seventy-five (75) percent of the net loss may be covered by the Principality, provided that the host group did not exceed the event bid budget by more than ten (10) percent without prior approval of the Council.

    1. b.      If all final reports and accompanying receipts are sent to the Principality Exchequer after thirty (30) days and before sixty (60) days, then only fifty (50) percent of the net loss may be covered by the Principality, provided that the host group did not exceed the event bid budget by more than ten (10) percent without prior approval of the Council.
    2. c.       If all final reports and accompanying receipts are sent to the Principality Exchequer after sixty (60) days, then no portion of the net loss may be covered by the Principality.

 

  1. 4.      Event Report Review
    1. a.       The Council shall review the financial report for each Coronet Event which results in a net loss.
    2. b.      The review shall determine whether the Principality shall cover a portion of the net loss, up to the maximums as detailed above.
    3. c.       Payment of a net loss may be denied by the Council.

 

  1. 5.      Site Fees for Coronet Events
    1. a.       Fee Structure should be adults – persons 19 years and older, youth – persons 13 to 18, children – persons 12 and under. Family caps would apply to modern related families, with a maximum of two adults.
    2. b.      Event fees should be a minimum of $15 per adult member. Fees for minors may be dictated by site costs; however, suggested fees for minors are: youths either at cost or one-half to two-thirds of adult site fee; children free. Family caps may be set at two adult site fees plus two youth site fees. The Non-Member Surcharge (NMS) would be applied to adult non-members and to the family cap, with a maximum of two (2) applied to the family cap.
    3. c.       If the estimated event budget predicts either a loss or little or no profit, higher fees may be charged if approved by the Principality Financial Committee.
    4. d.      No day fees may be set for Coronet Events.

 

 

XI.              CONTROLLING CASH

 

  1. 1.      Funds exceeding $1,000 from events, fundraisers, etc., must be deposited in the bank account within five (5) business days from the close of the event. by an officer of the SCA.

 

  1. 2.      Funds less than $1,000 but more than $50 from events, fundraisers, etc., must be deposited in the bank account within fourteen (14) calendar days from receipt by an officer of the SCA. Funds less than this limit must be deposited no later than thirty (30) 30 calendar days after receipt.

 

  1. 3.      Branches may not maintain “petty cash” funds. All funds may only be disbursed with branch cheques following standard procedure.

 

 

XII.           PRINCIPALITY OF TIR RIGH TRAVEL FUND

 

  1. 1.      The Tir Righ Travel Fund is designated to reimburse expenses for travel by the Coronet.

 

  1. 2.      Funds that are not specifically raised for the Tir Righ Travel Fund shall not be diverted from any other funds for any reason. The Travel Fund monies shall not be diverted to any other fund for any reason.

 

  1. 3.      Fund Availability
    1. a.       The primary intention of the Fund is to facilitate the travel of the Coronet within the Principality, to the required Crown Events (Twelfth Night, May Crown, July Coronation and September Crown) and to An Tir West War.
    2. b.      No more than fifty (50) percent of the available funds may be spent on travel to events outside of the Principality other than to Crown Events or An Tir West War.
    3. c.       The Coronet may draw on Funds from the Travel Fund during Their reign. However, only to the extent that the balance in the Fund has decreased no more than 50% from the start of Their reign or to the point that the Fund is left with only $175, whichever is greater. For example, if the Fund has $1,400 at the start of a reign, it must not drop below $700 during the reign and the Coronet must leave a balance of at least $700 at the end of Their reign.

 

  1. 4.      Allowable travel expenses include vehicle fuel, ferry travel and air travel. Hotel rooms may be reimbursed when the Coronet travels to an event where it is not feasible to camp.

 

  1. 5.      Travel Advances
    1. a.       The Coronets may be given an advance to assist with the travel costs.
    2. b.      All receipts to cover expenses must be handed in to the Principality Exchequer.
    3. c.       If expenses are less than the advance, any balance must be returned to the Travel Fund. If expenses are more than the advance, then the Coronets may be reimbursed for any outstanding balance.

 

  1. 6.      No expense reimbursement may exceed the Funds available in the Travel Fund. Expense reimbursement requests must be accompanied by receipts.

 

  1. 7.      Fundraising
    1. a.       It is the responsibility of the Coronets to maintain, and attempt to increase, the Travel Fund, through fund-raisers and / or the solicitation of donations.
    2. b.      An attempt should be made to leave the Fund with more money than it had when the Coronet ascended Their thrones.

 

  1. 8.      The administration of this Fund shall be handled through the Principality Exchequer.

 

 

 

V2.2 June 10, 2007 HL Elena de Maisnilwarin, Principality Chancellor of the Exchequer

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