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Table of Contents

INTRODUCTION
DEFINITIONS
PURPOSE
REVIEW AND APPROVAL

INTRODUCTION

This policy has been prepared using Sport Governance Manual October 3 2016 (AD01) guidelines. It relates to the general conduct of the affairs of the Manitoba Underwater Council Inc., a corporation without share capital incorporated under the Manitoba Corporations Act and referred to as “MUC”.

For BINGO funds received from Sport Manitoba.

APPLICABLE DOCUMENTS

The following documents, at the indicated Revision level and/or date of issue, are applicable to the extent specified herein. If no Revision level or date of issue is specified, the current revision is applicable.

AD01 Sport Manitoba Sport Governance Manual October 3 2016

REFERENCE DOCUMENTS

Reference documents provide background and / or supplementary information to the contents of this document.

RD01 – Reserved

ACRONYMS

MUC – Manitoba Underwater Council
PSO – Provincial Sports Organization

DEFINITIONS

1. The following terms have these meanings in this Policy:

“Organization” refers to: Manitoba Underwater Council

PURPOSE

2. Control and administration of the Bingo Fund is the responsibility of the Bingo Chairperson under advisement from the Manitoba Underwater Council (MUC) Board of Directors (BOD).

3. The Treasurer will determine via discussion with the BOD whether Bingo funds will be divided with member clubs in good standing or retained by MUC due to financial hardship and will notify Bingo Chairperson of decision.

4. The MUC Treasurer on receipt of the monies from the Manitoba Lotteries Corporation will allocate the funds based on the following formula:

100% to MUC General Fund if the BOD has decided not to disburse funds due to financial hardship or lacking qualified member clubs;
35% of the total amount to the Manitoba Underwater Council’s general account:
65 % of the total amount divided among the member clubs in good standing to assist them in with their operating expenses.

5. The MUC Treasurer will advise Bingo Chairperson of the breakdown of funds for the Clubs on receipt of the funds from Sport Manitoba.

6. All monies allocated for member clubs in good standing will be deposited into a special trust fund, separated from the MUC general fund by the Treasurer.

7. The Bingo Chairperson will monitor member club status to ensure clubs remain members in good standing.

8. The Bingo Chairperson will monitor the number of club members that are members of MUC to ensure funding is distributed to member clubs in good standing.

9. The Bingo Chairperson will be responsible for managing the disbursement of the funds to member clubs.

10. Funds held in trust for each club will be released upon each club submitting to the MUC Bingo Chairperson a formal request for their allocated funds. The request will be accompanied by receipts showing expenditures that are allowable under the Manitoba Sport Policies for allowable expenditures of funds. Non released funds will be held in trust until such time that each club has made a formal request for the release of the funds.

11. Upon receipt of the request for Club Fund disbursement, the Bingo Chairperson will review the receipts submitted for conformance to Sport Manitoba Policy for authorized expenditures. If requirements are met, a request in writing for the release of Club funds to the amount of the receipts or to the amount of monies held in trust for the Club at time of request will be submitted to the Treasurer who will action the request in accordance with M.U.C. disbursement of funds criteria. Cheques will only be made out in the name of member Clubs and will be mailed or delivered to a member Club executive member.

REVIEW AND APPROVAL

This policy was approved by the Board of Directors and will be reviewed by the Executive Committee on an annual basis.

Any disclosure, use or duplication of this document or any of the information contained herein for other than the specific purpose for which it was disclosed is expressly prohibited.