Last minute proposal of an amendment to the constitution:
I would like to propose an alteration of s32, ‘Financial Year’. I would like to change the first sentence from [quote=“Current constitution”]The financial year of the Society shall end on the 1st day of August in each year at which date the annual statement of accounts shall be prepared for submission to the Annual General Meeting.[/quote]to
[quote=“Proposed amendment”]The financial year of the Society shall end on the last day of August in each year at which date the annual statement of accounts shall be prepared for submission to the Annual General Meeting.[/quote]The proposed alteration has been underlined.
I would like to do so primarily because, as best as I can tell, past practice from the perspective of the accounts has been to prepare them on the basis that the end of the financial year is the last day of August, and having the constitution in disagreement with ongoing practice seems like a daft idea. The end-of-year date could be altered instead, but this would lead to a financial year either being longer or shorter than a calendar year at some point.
I also suspect that it was originally intended to be the last day, both because of said past practice, but also because I have never heard of any organisation having its balance date as the first day of a month. It is pretty much always the last day of a given month (typically 31 March for private firms, 30 June for government organisations). I could be wrong about this though.
