Finance of Activities

KMP is a non-profit organization operated by volunteers.  It operates on a very limited funding, and such funding needs to be managed and allocated properly.  Following are the rules and guidelines regarding funding:

  • All finances will be handled as a pooled resources for all communities. The Secretarial office will handle dispersements.  All financial results will be overseen by the Executive Committee.
  • Funding maybe necessary for some of the activities, if not free.  In principle, every event should be financially self-sustained, meaning charges might apply to participants to cover the necessary costs and expenses.  The event organizer or organizing team should make sure full accounts be returned to the Secretarial office with the corresponding evidence in the form of receipts.
  • Individual event organizers or communities will only collect the pre-arranged fees for the specific event if applicable.  For the purpose of transparency, best practice is to have the Secretarial office for fees collection.  Fees will be based on anticipated costs (venue rental, food and beverages, etc.) and should be not excessive.
  • Any excess will be returned to the Secratarial office for regular expenses.
  • Any shortfall will be covered by the Secratarial office, however overspending should not exceed 10% of the estimated total cost. Any greater amount must be reported to the Executive Committee for investigation.
  • Venue cost, if applicable, should consult the Secretarial office for advice.  There maybe better alternatives that can be considered according to past experience.