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accounts.md

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Accounts

This document describes all the financial and accounting content related to KOSS. This particular function has to be carried out with the very high standards and utmost sincerity.

Why does KOSS require money?

We conduct various workshops and events which require multiple costs like AV Cell booking, room booking, posters, domain hosting, servers, etc. To pay for the costs, the members had donated various sums of money to sustain the society while finding some self-funding source so as to continue the society in perpetuity without much financial strain on it’s individual members.

What is that self-funding source?

Currently, we conduct various workshops in an ongoing partnership with KTJ wherein they in turn, agree to donate some money to us. The money which we currently get is sufficient to continue with our expenses.

What is the goal of receiving donations?

To get enough money to sustain society and pay for various costs in conducting the events.

What isn’t the goal of receiving donations?

The money which we receive should never be used for internal parties/treats. The reason is simple: we don’t want to conduct events because we have the end goal of partying (which happens in majority places). Also, we think it’s a very healthy culture of seniors treating juniors and should continue.

Side note: If we expect our members to stay the entire day involved in KOSS’ events, workshops, etc then of course, we have to provide food from KOSS’ accounts. Such meals shouldn’t be extravagant, but should be good enough.

Who maintains this for KOSS?

A book-keeper is appointed from the 4th year batch (with Dual Degree preferred for the sole reason that they can keep a check even as ex-book-keepers in their final years.

Appointment The book-keeper is elected by the advisors batch with help from the executive heads.

Current book-keeper For the current period (2018-2019), Pranit Bauva is the book-keeper.

Power The book-keeper enjoys no power and merely helps in acting according to executive heads’ decisions.

Responsibilities

  1. Arrange for donations for self-sustainability
  2. Maintain the GitHub repository kossiitkgp/accounts diligently with high ethical standards
  3. Reinforce the rules/guidelines concerning any accounts related stuff among the whole team
  4. Timely (semester wise and after major event) clearance of dues

GitHub Repo

Rules

  1. PR has to be verified by the book-keeper as well as one executive head before being merged
  2. PR should have a photo of the bill with the amount written
  3. PR should contain the transaction id when transferring money from KOSS’ account to someone else for maintaining a record