CHAPTER SEVEN: FUNDING AND AUDITING
45. The National Finance Committee
The NEC will appoint the National Finance Committee chaired by the National Treasurer;
- The NEC shall determine the composition and powers of the National Finance Committee (NFC).
- The National Finance Committee will report to the NEC at least twice a year on the finances and budget of the CCM.
- The source of funds for the party shall include the following:
- Membership dues.
- Monthly subscription of Member of County Assembly, Member of Parliament, Senator, Governor, Deputy President and President as set out under section6(5).
- Grants, Subventions, contracts, donations and legacies accepted by the National Executive Council.
- Revenue from capital investments.
- Net income from Publications and consultancies.
- Funds from the Government.
- Fund raising events.
- The Party shall establish rules governing the collection, keeping and expenditure of finances which shall be managed by the Treasurer of the party.
- The Party shall after budget has been allocated forward the same to the Treasurer who shall oversee its implementation.
- The Treasurer shall prepare a financial report and cause the same to be audited in line with the Political Parties Act.
- The Party and bodies created by it may not incur expenditure in excess of the funds at their disposal.
- Funds will be utilized for supporting Party programmes as determined by the National Executive Council in line with the Political Parties Act.
- No Party funds shall be used in contravention of the Political Parties Act.
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