Why records are kept

Types of records to be kept Types of records to be kept Members' access to the records Privacy and confidentiality of records Custody and handover of records Record keeping and Consumer Protection Record keeping systems Record keeping and the rules Sample Form - Statutory Declaration. The Act requires every incorporated club or association to keep the following records: an up-to-date register of all members; an up-to-date copy of the rules often called the constitution ; an up-to-date list of the names and addresses of people who are office holders under the rules of the association; accounting records that record and explain the financial transactions and position of the association; and every disclosure of interest made by a committee member to be recorded in the minutes of the meeting at which the disclosure was made.

Minutes Minutes should be taken for all meetings, especially the annual general meeting AGM and management committee, as they serve as record of what happened during a meeting see also Meetings. Approved minutes provide an official record of: attendance; business discussed; correspondence received; reports tabled; decisions made; and resolutions adopted.

The level of detail recorded in the minutes may vary between associations but any decisions recorded should clearly state: what decision has been made; who will be responsible for its implementation; when the decision is to be implemented by; if the decision is to be reviewed, and if so, when and by whom; and who should be notified of the decision and how.

Notice of meetings Notice of association meetings and special resolutions must be given to all members within the notice periods specified in the rules of association. Certificate of Incorporation The certificate of incorporation is issued when the association is first incorporated or if a change of name occurs. Financial records The Act requires records to be kept of the association's finances. The requirements of the Act are: associations must keep sufficient accounting or financial records so that the financial transactions , financial position and performance of the association are correctly recorded; these records need to be kept in a way that will allow true and fair accounts or financial statements to be prepared, and so that these accounts can be conveniently audited if required; and the financial records are required to be kept for at least seven years.

Annual report Many associations compile an annual report that summarises the main achievements and highlights of the past 12 months. There is no set format for an annual report, but it is usually submitted to members at the AGM and includes: Chairperson's report. Staff report.

Activity report. Annual statistics. Annual financial report. Interest stories, highlights and low points. Jun 11, 0 Mar 4, 0 Technology is an ever-changing beast, with new innovations being released every May 24, 0 Spain, the home of delicious paella, gorgeous sandy beaches, the Running of the May 20, 0 Keeping a clean, healthy environment has become more important than ever for a lot Facebook Twitter.

Tags: Toki Sugu. Comments Name. Recommended Posts. Need to Make a Great First Impression? Here Are 5 Tips Tokyo Whitepaper - English Oct 27, 0 Waterfront Toronto Whitepaper Jun 24, 0 Prepare your financial statements You need good records to prepare accurate financial statements. An income statement shows the income and expenses of the business for a given period of time.

A balance sheet shows the assets, liabilities, and your equity in the business on a given date. Identify sources of your income You will receive money or property from many sources. Keep track of your deductible expenses Unless you record them when they occur, you may forget expenses when you prepare your tax return.

Keep track of your basis in property Your basis is the amount of your investment in property for tax purposes.

Prepare your tax return You need good records to prepare your tax returns. Support items reported on your tax returns You must keep your business records available at all times for inspection by the IRS. More often, recordkeeping is a matter of policy and good business practice, developed over time and "built into" work processes, to ensure that the organisation can:. The records of government also help to protect individual rights and entitlements, safeguard the public interest, and contribute to the historical record of Manitobans' personal and collective experience.

Recordkeeping refers to the entire range of functions involved in creating and managing records throughout their life cycle. It includes:. Records management has traditionally referred to an organisation's policies and procedures for managing file systems and disposing of records once they are no longer needed. In recent years, attention has shifted to the need to create reliable records in electronic form, and 'records management' is understood more broadly to mean the overall management of records from their initial creation to final disposition.

The term is now often used interchangeably with recordkeeping. The sheer volume and complexity of modern records will be apparent to anyone who uses them. Government employees at all levels have first-hand experience of the importance of good records management, whether they create or handle records in their work, depend on finding the records they need quickly, wonder how long their records should be kept, or are required to make decisions that affect the way business-critical records will be created and maintained.

Records management has to do with making sure records are organised, protected and controlled so that they can be effectively used over time. Its purpose is to ensure that:.