Funds of the Union
The Union will derive its funds from collection of membership registration fees, monthly subscriptions and may also receive any grants or subventions, donations, gifts, bequeaths and other, miscellaneous funds i.e. from sales of assets, special levies, consultancy services, publications, fund- raising activities and any other lawful means such as borrowing, among others.
The NEC shall cause a bank account(s) to be opened and maintained in the name of the Union and shall ensure that all funds belonging to the Union are received by the General Treasurer and paid into the said bank account(s) within seven days of receipt of such money, provided that the General Treasurer shall be permitted to retain a cash imprest which shall be determined by the NEC to pay minor expenses. All cheques for withdrawal of money shall be signed by the General Treasurer and the General Secretary or National Chairman and/or any other officer as the NEC shall determine.
The Union Head office shall remit five 5% of the Branch monthly contributions back to the Branch for its operational costs and/or as shall be determined by the FAGPC from time to time.
The Branch Treasurer shall be permitted to receive and account for any cash imprest or Branch operational funds as shall from time to time be determined by the FAGPC.
The Union shall operate a separate bank account in case of any contributory provident fund or pensions fund scheme for the Union.
Loans or overdrafts may be obtained by three principal officers from commercial banks or from any other financial institutions subject to the maximum approved by the FAGPC.For the necessary securing of loans or overdraft accepted by the Union under paragraph (6) the Union may grant a charge over the assets of the Union or charging of the funds of Union in its savings account(s).
13.2 COLLECTION OF FUNDS
All monies due to the Union by way of check-off shall be remitted to the Head office and banked onto the Union account.
13.3 APPLICATION OF UNION FUNDS
The funds of the Union shall be expended for the following purposes:-
1) The payment of administrative expenses that shall among others include; Salaries, Allowances, Gratuity, pension and expenses to office bearers and employees of the Union.
2) Other Administrative expenses shall include the following among others:-Office Rent, Utility’s expenses, Affiliation fees/Organizational Membership fees, Audit fees, Professional fees/Consultancy fees, Legal Aid to the members, Printing and Stationery, Communication expenses, Motor vehicle expenses, Transport expenses, Meetings, Education and Training, Branch operational Fund, Development Fund, Donations and any others as from time to time may be determined by the NEC or any other substantive organ of the Union.
3) The payment of expenses for the administration of grievances and disputes with employees and employers arising from Union activities.
4) The payment of expenses related to Negotiations of Collective Agreements with the employers on behalf of the Union or any member thereof
5) Acquisition of property for the Union i.e. fixed and current assets like land, office operational vehicles, office equipment, office furniture etc and their repair and maintenance.
6) Payments into the Working Capital Fund.
7) May help to fund small feasible projects for the members of the Union.
8) Genuine assistance to members who are in problems like condolence contributions for obituary as the NEC and/or Secretariat may deem fit.
9) Such allowances or grants to members and employees or their dependents on account of death, old age, sickness, accidents or unemployment relief as the NEC may from time to time prescribe.
10) The indemnity for the members of the NEC and officers of the Union from and against all costs, charges, losses, damages and expenses whatsoever which they or any of them, shall sustain or incur in the execution of their power or duties, unless the same shall arise by reason of their own willful neglect or default.
11) The compensation of members for losses arising out of such grievances and disputes as found necessary by the Union Organs.
12) The payment of any fine or penalty imposed upon the Union under the provisions of the laws in force.13) Payment for Unforeseen but necessary Expenses to the Union.