Victorian Consolidated Legislation

Fundraising Act 1998 - SECT 29

Fundraisers must keep certain records and accounts

29. Fundraisers must keep certain records and accounts



(1) A person conducting a fundraising appeal must keep records sufficient to
enable a true and fair view of the income and expenditure relating to the
appeal to be ascertained at any given time including (without limiting this
requirement)-

   (a)  full details of all funds and assets received as a result of the
        appeal;

   (b)  full details of what happened to all those funds and assets;

   (c)  full details of-

   (i)  the amount applied to the purposes or objects of the appeal and how it
        was distributed;

   (ii) any expenditure on assets;

   (iii) any expenditure on wages, salaries, commissions and other
        remuneration in relation to the appeal;

   (iv) any other administrative expenses related to the appeal;

   (v)  any other expenditure related to the appeal;



   (d)  any other details required by the regulations.

Penalty: In the case of a corporation, 240 penalty units. In any other case,
120 penalty units or imprisonment for 12 months or both.

(2) If the appeal is, or was, conducted as part of a national appeal, it is
not necessary for the records to be kept in a way that enables the information
required by subsection (1) that only relates to Victoria to be identified.

(3) The person conducting the appeal must ensure that the records are kept in
a way that enables them to be conveniently and properly audited.

Penalty: 50 penalty units.

(4) The person conducting the appeal must ensure that accounts containing a
summary of the records required by subsections (1) and (2) are finalised
within 3 months of-

   (a)  the date the appeal ends, if the appeal runs for 12 months or less; or

   (b)  each anniversary of the start of the appeal, if the appeal runs for
        more than 12 months.

Penalty: 50 penalty units.

(5) If the appeal runs for more than 12 months-

   (a)  the accounts required by subsection (4)(b) are annual accounts; and

   (b)  once the appeal ends, the person conducting the appeal must ensure
        that accounts covering the period from the last anniversary of the
        appeal until the date the appeal ends are finalised within 3 months of
        the date the appeal ends.

Penalty: 50 penalty units.

(6) For the purposes of this section, an appeal ends on the occurrence of the
first of these events-

   (a)  if the appeal is being conducted by a person who is deregistered as a
        fundraiser under Division 7, on the day the deregistration takes
        effect;

   (b)  if the appeal is stopped by an order made by the Court under section
        34, on the day the order takes effect;

   (c)  in any other case, one month after the last significant solicitation
        for money or a benefit is made in relation to the appeal.

(7) Records relating to any proceeds received after the date an appeal ends
but before the accounts for the last period of the appeal are finalised must
be included in those accounts.

(8) If the person who conducted an appeal continues to administer any funds or
assets received as a result of an appeal after the appeal ends, the person
must ensure that accounts containing a summary of the records required by
subsections (1) and (2) are finalised within 3 months of-

   (a)  if the appeal ran-

   (i)  for 12 months or less, each anniversary of the date the appeal ended;
        or

   (ii) for more than 12 months, each anniversary after the first anniversary
        of the date the appeal started; or

   (b)  30 June in each year-

until the person ceases to administer the funds or assets. Penalty: 50 penalty
units.

(9) A person to whom subsection (8) applied must ensure that accounts
containing a summary of the records required by subsections (1) and (2) are
finalised within 3 months of the date the last of the funds or assets ceased
to be administered by the person.

Penalty: 50 penalty units.