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1. Purpose and Maintenance of Policy

    1. Purpose of this Document
      1. The Financial Policy for the Kingdom of Atlantia is established in order to provide adequate control of the financial transactions of the Kingdom. These policies will ensure our compliance with regulations pertaining to our tax-exempt status and maintain the continuity of our administrative functions in support of our event-related activities.
    2. Atlantian Council of the Exchequer

      This Council shall consist of three voting members: the Kingdom Seneschal, the Triton Principal Herald, and the Kingdom Chancellor of the Exchequer (Kingdom Exchequer).  The Terms of the three voting members of the Council will be concurrent with their respective signed warrants.

    3. Financial Policy
      1. The Financial Policy will be maintained by the Atlantian Council of the Exchequer, and will be reviewed annually by the Council for compliance with Society requirements and appropriateness for the Kingdom.
      2. Proposed changes to Atlantian Financial Policy will require a simple majority of the Council to be forwarded for ratification by the Crown. If the proposal is disapproved by the Crown, the council may rework or resubmit during the following reign. Upon approval of the Crown, changes will be forwarded for review to the Society Exchequer and approved by the Board of Directors.
      3. Changes that do not affect disbursements will become effective immediately following their publication in The Acorn.
      4. Changes that do affect disbursements will become effective at the start of the next Reign and following their publication in The Acorn.
      5. Precedence of Law This policy is superceded in this order: By-Laws of the SCA, Inc., the Corporate Policies of the SCA, Inc. (including Society Financial Policy), Corpora, Federal, and State Law.

2. Accounts and Administration

    1. Bank Accounts
      1. Kingdom Accounts
        1. The following Atlantian organizations are authorized to maintain separate accounts for their use.
          • The College of Heralds and Scribes of Atlantia
      2. Branch Accounts
        1. Accounts must be administered to follow policies set forth in the Exchequer's Handbook including, but not limited to, the following:
          1. Reigning Monarchs may not be signatories on an account.
        2. Territorial Barons and Baronesses may not be signatories on their Baronial account.
        3. If any branch can demonstrate an undue hardship in following any of these dictates they may request a variance from the Kingdom Exchequer.
        4. If a branch or guild of the Society dissolves for whatever reason, the monies held in the group account shall be returned to the Kingdom General Fund. At the request of the majority of the officers of the disbanding group, another fund may be selected. In the case of a disbanding Canton, the Baronial account may be selected.
    2. Kingdom Internal Accounting Structure (Ledger Accounts)
      1. General Funds
        1. General Funds are defined as monies collected by the Kingdom to support the administrative and event-related functions of the Kingdom. Unless otherwise specified all money collected will be considered to be General Funds.
      2. Permanent Funds
        1. In addition to General Funds the following Permanent Funds will be established:
          1. Royal Travel Funds (rotating funds established to defray the costs of travel for each Royal couple in turn).  If the primary purpose of this fund ceases to exist, the funds will be used to support the General Fund of the Kingdom of Atlantia.
          2. Children’s Fete Fund (established to defray the cost of the annual Known World Children’s Fete sponsored at the Pennsic War by Atlantia).  If the primary purpose of this fund ceases to exist, the secondary purpose of these funds is to cover expenses related to the Youth activities of Atlantia.
          3. University (established to defray the cost of hosting University).  As noted in section 3.4.6 proceeds from sessions of the University of Atlantia shall be used to fund future sessions of the University and will be reserved to the University fund for that purpose.  If the primary purpose of this fund ceases to exist, these funds will be used to support the General Fund of the Kingdom of Atlantia.
        2. Other permanent funds may be established by the majority of the Atlantian Council of the Exchequer.
        3. Permanent funds must have a secondary fund purpose, in the event that the primary purpose ceases to exist.
      3. Temporary Funds
        1. Temporary Funds will be established for use as short term obligations occur. These funds will not exceed one calendar year or the designated period of use, whichever is longer. Funding for temporary funds will be determined by the purpose of the fund.
    3. Reports
      1. It is the duty of the local exchequer to keep the Kingdom Exchequer informed of the status of all local accounts.
      2. It is the duty of the Kingdom Exchequer to keep the Society Exchequer informed of the status of all Kingdom accounts.
      3. The Kingdom of Atlantia follows the timelines set by the Society Financial Policy.
        1. Quarterly reports are due ON the dates below:
          1. April 30 (January 1 - March 31) - First Quarter
          2. July 31 (April 1 - June 30) - Second Quarter
          3. October 31 (July1 - September 30) - Third Quarter
          4. January 31 (October 1 - December 31) - Fourth Quarter
          5. Note: Depreciation is done annually on the Fourth Quarter report
          6. Reports shall be sent to the Society Exchequer as designated. Electronic reports may be accepted for deadline purposes but it is required that the original reports be forwarded by mail within five (5) business days. The original reports must be signed by the seneschal and exchequer and have the entire quarters' bank statements attached with each report. Reports will be considered late if they are not received within five (5) business days of the due date or if they are incomplete.
        2. The Yearly Doomsday report (the compilation of all 4 quarters) is due ON the date below:
          1. January 31 - Doomsday report
          2. Please attach a copy of the bank statements for January (start of the year being reported) and December (end of the year being reported) with the Doomsday.
      4. Non Member Surcharge (NMS) reports and monies are due to the office of the Chancellor of the Exchequer Deputy for the NMS no later than 10 business days after the event.
      5. Any exchequer with two late or missed Quarterly reports will be subject to a review of books and the possibility of suspension. Any group failing to submit the fourth quarter report or doomsday by the deadline will be suspended. Any group failing to submit a Non-Member Surcharge report within 10 business days after the event may be subject to suspension. Groups with a pattern of missing/late reports shall be remanded to the Kingdom Seneschal for action.
      6. Event reports shall be submitted for every event held by a local group. These shall be completed with copies of the event receipts attached and sent with the corresponding Quarterly Reports. Kingdom Level event reporting requirements are listed in Section 3.5 of this policy.
    4. Meetings of the Atlantian Council of the Exchequer
      1. Meetings of the Council of the Exchequer may be held in person, by telephone or by electronic means (e.g., by exchange of email). If such meetings are held in person or by telephone, it is the responsibility of the Kingdom Exchequer to create and preserve a written record of all decisions of the committee. If the meeting is held by email, then the Kingdom Exchequer retain copies of all relevant emails as the permanent record of the meeting.
      2. Decisions by the Council of the Exchequer will be made by a simple majority.
      3. Meetings will be conducted within two weeks of a funding request. In the case of an emergency funding need, two members of the Council must be contacted and in agreement.

3 Income

    1. Definition

      Income shall include all monies that come to the Kingdom through event proceeds, fundraising efforts, or direct contribution.

    2. Designation of Funds
      1. Funds donated to the Kingdom by groups or individuals may be designated for a specific use or as general funds. Any donation, which does not specify a particular account or if the purpose for the fund no longer exists, will be placed into the General Fund.
    3. Waiving Event Fees
      1. Branches in Atlantia may choose to waive event fees (agree to absorb the cost themselves) for the following event attendees: the King, Queen, Prince, Princess, and local Landed Baronage. To waive the fees of additional attendees, the local branch must include a list of those approved for waived fees in the branch’s financial policy and/or have the waiver of fees approved by the branch’s financial committee with justification/documentation for the additional names added to the Event Report.
    4. Kingdom Event Profits
      1. Kingdom Event profits are those monies remaining from event receipts after all expenses have been paid. Cost of the site, food, prizes, supplies for decoration, advertising, or administrative purposes are acceptable expenses to be charged to an event. Acquisition of items, which will be retained by the hosting group (such as serving gear or cooking gear), are not considered expenses of the event.
      2. The Kingdom will be considered the sponsor for any Kingdom Event that is managed by a group that is not a recognized branch of the SCA (for example, a household). The Kingdom Exchequer will provide the financial management for any event sponsored by the Kingdom. All event profits will be retrained in the Kingdom General Fund.
      3. Any branch that sponsors a Kingdom level event, excluding inter-Kingdom wars or events and sessions of The University of Atlantia, will receive 50 percent of the profits from the event. The balance of the profits shall be turned over to the Kingdom treasury for the General Fund.
      4. The Kingdom does not take any financial responsibility for any loss from a Kingdom Event sponsored by a recognized Branch within the boundaries of the Kingdom.
      5. The Kingdom shall be considered the sponsor for all inter-Kingdom wars and events. The Crowns, working in cooperation with the event autocrats and the Kingdom Exchequer, will negotiate the split of the profits between the Kingdoms, hosting groups, etc.
      6. Proceeds from sessions of the University of Atlantia shall be used to fund future sessions of the University and will be reserved to the University fund for that purpose.
    5. Finances for Kingdom Events
      1. Autocrats of Kingdom Events are responsible for filing financial reports, providing copies of all expense receipts and turning over event profits share to the Kingdom treasury within 30 days from the date of the event.
      2. Kingdom Event reports will be sent to the Kingdom Chancellor of the Exchequer, the Kingdom Event Bid deputy, the hosting branch exchequer and the regional exchequer.
      3. The Exchequer must receive event-related receipts and requests for reimbursement no later than five business days after the event.
      4. For Kingdom Events sponsored by the Kingdom, Event Refunds shall be provided as follows:
        1. Feast refund will be provided if the feast spot was resold to another attendee. Other fees may be refunded based upon a decision by the Atlantian Council of the Exchequer.
        2. The Kingdom Exchequer must receive refund requests in writing (email is acceptable) no later than five business days after the event.
        3. All refunds shall be paid by check from the Atlantian checking account.
        4. No refund shall be issued until the event books have been closed and all reservation checks have cleared.
    6. Cash Controls
      1. All cash received at an event shall be counted and recorded by two people (not of the same family) before the cash is removed from the site. Copies of the cash record will be provided to the Branch Seneschal and the Exchequer.

4. Disbursements

    1. Definition

      Disbursements are any monies released from a Society account for the purposes of funding events, activities, or administration of the Kingdom.

    2. Controls
      1. All disbursements will be made by bank draft (check) in accordance with Society Branch Financial Policy.
      2. Advance payments can only be made with the prior approval of the Atlantian Council of the Exchequer in accordance with Society Branch Financial Policy.
      3. Disbursements which are reimbursements for approved expenditures will require the request for reimbursement, which includes the legal and society name of the individual requesting reimbursement, explanation of expenditures and documentation of their approval, and all receipts.
      4. Under no circumstances will reimbursement be made without a receipt of expenditure. All receipts must be presented to the Kingdom Exchequer for reimbursement within 30 days of the end of the Reign in which they were incurred.
      5. Disbursements for items not specified in this document or otherwise budgeted for may be requested by individuals. Such requests should be made to the Atlantian Council of the Exchequer in advance of purchase.
      6. An accounting of expenditures shall be made at the next Curia.
    3. Budgets and Disbursements
      1. Budget. The Chancellor of the Exchequer will submit an annual budget to the Atlantian Council of the Exchequer for approval. Based on the recent history of expenditures, expected activity, and the current financial health of the Kingdom, funding levels will be proposed and allocated for the following Budget Line Items:
        1. Kingdom Seneschal Office Expenses.
        2. Kingdom Chatelaine Office Expenses.
        3. Kingdom Chronicler. The Chronicler's Budget is established to help defray the costs associated with the production of the Kingdom Newsletter in excess of money allotted by Corporate.
        4. Kingdom Earl Marshal Office Expenses.
        5. Kingdom Chancellor of the Exchequer Office Expenses.
        6. Triton Principal Herald Office Expenses.
        7. Kingdom Clerk of the Signet’s Peerage Budget. The Signet's Peerage Budget is established to partially compensate the Scribes of Atlantia for the supplies and expenses for Peerage Scrolls that meet the specific criteria. The reimbursement amount for each approved scroll will be established in the Budget. This budget is administered by the Clerk Signet in conjunction with the Kingdom Chancellor of the Exchequer. The criteria is:
          • Commissioned through the Clerk Signets’ Office
          • Completed and presented at the time that the Peerage is made (in that court)
          • The Scribe must officially request the stipend through the Clerk Signet’s Office for reimbursement.
        8. Kingdom Minister of Arts and Sciences Office Expenses.
        9. Kingdom Minister of the Lists.
        10. Kingdom Unevent Budget. This budget is to hold funds needed to support the minimal annual costs of hosting Kingdom Unevent.
        11. Kingdom Web Minister Office Expenses.
        12. Pennsic Budget. Monies in this budget are used for allowable expenses in providing a “Populace and Royals Tent” for both populace and royal use on the field at the Pennsic War.  In addition, the Pennsic Budget will include separate budget amount for allowable expenses in providing non-alcoholic refreshments/hospitality to the Populace and Royals.
      2. General Fund Disbursements
        1. The Chancellor of the Exchequer is authorized to make disbursements from General Funds based upon the Budget as approved by the Atlantian Council of the Exchequer.
        2. Disbursements will be made for office expenses during the specified reign. All receipts must be submitted to the Chancellor of the Exchequer within 30 days of the end of a reign.
        3. All postage costs associated with the execution of an office will be reimbursed and will not be considered as part of the Officer’s budgeted allocation.
        4. Telephone expenses of Officers and Royalty will not be reimbursed under any circumstances.
        5. Postage costs incurred by the Royalty and Their Heirs shall be reimbursed upon receipt to the Kingdom Exchequer.
        6. Reasonable expenses incurred by Principals of the Orders of Peerage and the Kingdom Orders of High Merit for pollings conducted at the request of the Crown and mailings for the general administration of the Orders shall be reimbursed. Reasonable expenses shall include postage, copying, and envelopes.
        7. Should the Exchequer deem any requested amounts unreasonable, he/she shall consult the Atlantian Council of the Exchequer.
      3. Royal Travel Funds
        1. A Travel Fund shall be established to partially defray the costs associated with travel to official Society functions. Each Travel Fund shall be opened with an allocation of $2400 from the General Funds for reimbursement of travel expenses as soon as the Coronet has been chosen. Each fund will be available for donations and disbursements for the entire duration of the couple's reign, and will not exceed 30 days after the end of the reign.
        2. Only the following expenses may be reimbursed from the Travel Fund: gas, event fees, lodging, commercial transportation fares, and rentals. Other categories of Travel Fund reimbursement requests shall be addressed by the Council of the Exchequer on a case-by-case basis.
        3. All reimbursements will be made out of the appropriate Travel Fund. No reimbursement shall be made that exceeds amount available in the fund. Any funds remaining at the end of each reign shall be transferred to the next Crown's Travel Fund.
      4. Children’s Fete Fund
        1. Monies in this fund are used for allowable expenses associated with Atlantia’s sponsorship of the Known World Children’s Fete at the Pennsic War.
    4. Officer Travel Policy
      1. Kingdom Officers who have Society required travel may apply to the Atlantian Council of the Exchequer for travel expenses.
      2. A proposed budget, with proof of required travel shall be submitted to the Atlantian Council of the Exchequer with request for travel expenses as soon as the required travel is known. Standard Cash advance procedures as outlined above will be followed.
      3. The following expenses may be reimbursed from the General Fund: gas, event fees, lodging, commercial transportation fares, and rentals. Other categories of Travel Fund reimbursement requests shall be addressed by the Atlantian Council of the Exchequer on a case-by-case basis.

End FAQ

Date Monday, February 15, 2016 02:35 File Size 720.34 KB Download 2
 
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