PRIDE - Pride constitution

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Fiscal policies

1. Policies

1.1: Pride shall work towards self-sustainability and shall manage funds appropriately.
1.2: Pride shall seek viable partnerships within the community to raise funds.
1.3: Pride shall follow acceptable accounting practices and maintain accurate records of all transactions.
1.4: Pride shall, in the interest of transparency, publish annually its financial status.
1.5: Produce budgets foe all ventures and shall strive to work within the limitations of these budgets.
1.6: Pride shall not pay for artists and entertainers to perform at Pride events. However, Pride shall undertake to cover the costs of such artists performing at Pride.
1.7: Where possible Pride shall enter in agreements and partnerships with lesbian and gay owned businesses and/or gay friendly businesses.

2. Procedures

2.1: A separate account shall be set up for the Pride Trust and shall be managed by the board of Trustees. Into this account all funding, donations, profits from joint projects and sponsorship shall be paid. This account shall be used to run the Pride office and the Community Outreach Project.
2.2: A separate account shall be opened for the Organising Committee. All income from float registration, stall registration, fund raisers for the event and an amount allocated by the Pride Trust shall be used to organise the Pride events. Sponsorship amounts will be transferred to the organising account when required.
2.3: Account signatories of the Pride Trust account shall be the chairperson and the two members of the management committee. Signatories for the Organising account shall be the two co-chairpersons and the treasurer.
2.4: Two signatures shall be required for all cheques on both accounts.
2.5: The organising committee shall supply budgets to the Board of Trustees for approval.
2.6: Three quotes are required for all services that the committees shall seek to use. Decisions shall then be based on the best price for the best service.
2.7: Pride shall strive to ensure that community businesses are supported when entering into transactions for Pride.
2.8: Requisitions for all checks need to be signed by signatories of the committees and invoices need to be attached.
2.9: Tenders for Pre-pride events shall be posted in local and national newspapers. Decisions shall be made by the Board of Trustees.
2.10: Regular accounting practices must be followed by each of the committees.
2.11: The Organising Committee shall prepare final statements and accounts in October after the annual event and submit these to the board of trustees.
2.12: The end of the financial year is 31 December.
2.13: The Financial Statements shall be published in the annual Pride Report and in the local press.
2.14: The Annual report shall be sent to all national and international funders. Said report shall include all financial records and auditors notes.
2.15: Independent auditors shall audit the Pride Accounts.

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