international yachting fellowship of rotarians (iyfr) general rules
international yachting fellowship of rotarians (iyfr) general rules
international yachting fellowship of rotarians (iyfr) general rules
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G. INTERNATIONAL OFFICERS’ BURGEES AND IDENTIFICATION<br />
International <strong>of</strong>ficers may fly distinguishing burgees 68cm (27”) x 38cm (15”) with a<br />
Rotary emblem <strong>of</strong> 15cm (6”) in diameter, together with five stars for the IC, four for the<br />
IVC, three for the IRCs and two for the RCs. The stars shall be five pointed, each <strong>of</strong><br />
7.62cm (3”) on hoist, and evenly spaced. Gold stars, each 1.3cm (112”) in diameter on<br />
top <strong>of</strong> a “Rotary blue” backing may be worn at the top <strong>of</strong> the left breast pocket <strong>of</strong> a shirt<br />
or blazer, on a shirt collar or on epaulets. Gold bars may be worn on epaulets according<br />
to custom <strong>of</strong> the wearer’s residence. Mini stars may be worn on top <strong>of</strong> a “Rotary blue”<br />
field <strong>of</strong> 1cm (3/8”) long. On retirement from <strong>of</strong>fice the gold stars or bars shall be<br />
replaced with silver stars and a silver edge shall be applied around the perimeter <strong>of</strong><br />
burgees. All may be flown or worn as appropriate at Rotary and IYFR functions.<br />
VII: ACCOUNTING PROCEDURES<br />
A. Accounts shall be maintained in accordance with GAAP (Generally Accepted<br />
Accounting Principles) and applicable law where accounts are maintained.<br />
B. The fiscal year will be the same as the Rotary year, 1 July to 30 June.<br />
C. Bank accounts shall be authorized by the IC.<br />
D. A budget shall be prepared annually and adopted by the Executive Committee.<br />
E. Funds are not to be used to purchase any item <strong>of</strong> a capital nature,<br />
i.e., computers, fax machines, etc.<br />
F. The IC shall appoint an accredited accountant to conduct an <strong>of</strong>ficial audit <strong>of</strong> the<br />
IYFR accounts and financial statements. The audited financial statements shall be<br />
published in the “Rotafloat”.<br />
G. Budget Policy:<br />
1) The operating budget is based on current, predictable annual dues income.<br />
2) The operating budget does not include:<br />
a) Projected income from IMs or fleets that did not pay dues for the<br />
last year.<br />
b) Dues collected from previous years that were overdue.<br />
c) Other speculative or one time sources <strong>of</strong> income.<br />
3) Income from other than current annual dues may be used to supplement<br />
promotional materials, regalia inventory, operating reserves, or other<br />
purposes permitted by the Rules, but should not be relied upon for planned or<br />
required operating expenses.<br />
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