The purpose of this policy
1. This policy describes the National Space Flight Foundation Ltd (NSFF)’s Record Keeping Policy
2. This policy applies to Directors, CEO, and is used by staff, Directors and CEO.
Reference material
3. This section lists any documents referred to in this policy that specify further requirements or provide guidance. Reference documents should be read in conjunction with this policy.
(a) Documents, records and requests for access - Not-for-Profit Law.
Records
Records provide documentary evidence of compliance with this policy to interested parties such as Clients and Auditors.
4. The Treasurer is responsible for keeping financial records
4.1 The NSFF must keep financial records that:
4.1.1 correctly record and explain its transactions, financial position and performance, and
4.1.2 Allow the NSFF to prepare true and fair financial statements.
4.2 Generally, financial records include:
4.2.1 invoices;
4.2.2 receipts;
4.2.3 orders for payment of money;
4.2.4 bills of exchange;
4.2.5 cheques;
4.2.6 promissory notes and vouchers;
4.2.7 documents of prime entry, such as a petty cash book, purchase records, a debtors journal and bank account statements;
4.2.8 statements and reports and working papers and other documents needed to explain the methods by which financial statements are prepared and adjustments made in preparing financial statements;
4.2.9 the financial reports it prepares as a part of its financial reporting obligations (see below), such as:
4.2.9.1 financial statements
4.2.9.2 any notes to the financial statements
4.2.9.3 audit reports (prepared for the association’s annual reporting), and
4.2.9.4 any management committee declaration (prepared for the association’s annual reporting)
5. The secretary is responsible for keeping certain documents, including:
5.1 The association’s books (other than financial records) including
5.1.1 Committee meeting minutes;
5.1.2 Office holder records; and
5.1.3 Members register.
The NSFF must keep their financial records for at least 7 years after the transactions in the financial records are completed.
The Policy
The policy is that the above records be kept by the CEO .