CLOUD Bank Account Now Open!
At our 1st Annual General Meeting on 19th October, CLOUD members agreed that we should open a bank account to receive voluntary donations and fund agreed activities. We can now report that the CLOUD bank account is open. Here are the account details :
Bank Cumberland Building Society
26-28 Cheapside
Lancaster
LA1 1LZ
Account Name CLOUD
Account No 54234823
Sort Code 16-52-21
Financial Assurances for CLOUD members
At the Annual General Meeting, there was discussion on the question of financial safeguards and members’ potential liability. (This is recorded at agenda item 1 of the minutes, available on the CLOUD website at : https://www.cloudbgv2017.co.uk/cloud-meetings-and-constitution. The CLOUD Management Committee undertook to provide assurance and clarification on this important subject. The following note has been provided by a retired solicitor, who is a member of the CLOUD expert group set up at the AGM.
“ a question has been raised concerning the legal position of CLOUD, which is an unincorporated association.
This type of organisation is suitable for groups such as playgroups, arts groups and campaigning groups. It is widely used as it is cheap and flexible.
Individual members of the Management Committee are personally liable for the Group’s obligations and debts and are liable if successfully sued. This is very rare and is avoided if they do not incur debts unless funds are available."
Taken with the financial procedures agreed at the AGM (and recorded in the minutes at agenda item 9), this means that :
any CLOUD expenditure can only be authorised by the members at a general meeting.
no commitments can be entered into until sufficient funds are available in the CLOUD bank account.
should the CLOUD Management Committee fail to comply with these procedures (and we have no intention of so doing!), any consequent liability would fall on the Management Committee and NOT on individual CLOUD members.
We trust that these procedures and assurances provide the assurances which members were seeking.
Request for Donations
At the Annual General Meeting, CLOUD members also agreed that we should invite donations to cover the printing and distribution costs already incurred to publicise CLOUD meetings and attract supporters. As reported at paragraph 9 of the minutes, the costs comprise :
Bulk printing of 7500 leaflets £570
Distribution by the leaflet company in August £378
Laminated posters and 300 leaflets to advertise AGM £39
TOTAL £987
The meeting agreed that CLOUD members and supporters should be encouraged to donate whatever sum they wished to contribute to this expenditure. Now that the CLOUD bank account is open with the Cumberland Building Society, you may make donations. Payments can be made by a variety of means : through online banking, or by bank transfer, quoting the appropriate CLOUD account details as at the top of this Newsbrief. Cash and cheques can also be paid in at the Cumberland branch in Cheapside, Lancaster. Cheques should be made out to CLOUD - no need to add the account number. You will be given a signed and dated Investment Receipt indicating the amount paid over and the account number. The first payments have already been made to the CLOUD account and the balance now stands at £100. I will provide periodic updates as to the level of donations received.
Please note : This expenditure of £987 has been incurred by members of the informal CLOUD group before the establishment of CLOUD as a formally constituted association at the 19 October AGM. This expenditure does not represent a debt against CLOUD. CLOUD group members will only be reimbursed for this expenditure if and when donations have been received into the CLOUD account. Receipts for this expenditure are available should CLOUD members wish to inspect them.
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