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FUNDS
Payments to the LOC
All registration fees are to be paid to the LOC. The amount of the
registration fee will be determined by the LOC in consultation with the
IEC. It shall
comprise amounts contributing to supporting the expenses of (a) organizing
and conducting the Congress, (b) publishing the proceedings, and (c)
inter-Congress activities (IEC expenses) and
other functions that the IEC
finds essential to achieving the objectives of the ICAC.
Continuing ICAC funds administered by the IEC
Credits. The ICAC fund may receive moneys from the following
sources: (a) a part of the registration fee, (b) surplus funds not expended
by the LOC for costs of a Congress (including publication of the
proceedings), (c) sale of proceedings and separata when these are
administered by the ICAC rather than by another publisher, (d) royalties from
a publisher, (e) grants, and (f) gifts.
Debits. The IEC may expend funds for (a) operating costs, (b)
assistance in publication of the proceedings, (c) publication of Directory,
(d) assistance to LOC, and (e) grants to students and others for attendance
at ICAC.
Management of funds
Funds will be handled by the IEC Treasurer, who will be responsible for
reporting on the status of the funds to the IEC annually (via the Secretary)
and to the CM at each Congress. Funds will be maintained in a form that will
provide some income, but they will not be invested in any way that does not
guarantee their security or that may interfere with the taxfree status of the
ICAC. Funds will be held only in a country that permits the free inflow and
outflow of local and foreign currency.
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