Kingdom Law - Finances

Finances

Financial policy

The financial policies of SCA Ltd and SCANZ apply to the Kingdom of Lochac and to all groups within the kingdom.

Financial reporting

Groups reporting to the Chancellor of the Exchequer

1. Every Australian group shall report annually to the Chancellor of the Exchequer's Deputy for Australia, by 31st January, on the monies and properties they held for their group or the SCA during the previous Australian financial year.
2. Every New Zealand group shall report annually to the Chancellor of the Exchequer's Deputy for New Zealand, by 30th of April, on the monies and properties they held for their group or the SCA during the previous New Zealand financial year.
3. Failure to so report without appropriate explanation is ground for the Chancellor of the Exchequer to suspend the responsible officer in that group.
4. Failure to so report within a further month without appropriate explanation is ground for the Chancellor of the Exchequer to request the Crown to place the group in abeyance.

The Chancellor of the Exchequer

Annual reporting

1. The Chancellor of the Exchequer must report to the SCA Ltd Treasurer, the Crown and the Kingdom Seneschal every year by the last day of February, on the monies and properties of Australian branches of the Kingdom of Lochac.
2. The Chancellor of the Exchequer must report to the SCANZ Treasurer, the Crown and the Kingdom Seneschal every year by the 31st of May on the monies and properties of New Zealand branches of the Kingdom of Lochac.
3. Failure to so report without appropriate explanation is grounds for the Board of SCA Ltd and Committee of SCANZ to suspend or remove the Chancellor of the Exchequer from office.

Kingdom financial summary in Pegasus

1. The office of the Chancellor of the Exchequer must publish in each July issue of Pegasus a summary report (e.g. one page per country) of the kingdom's account balances and overall income/expenditure covering the most recent financial year for each country, alongside comparable figures from the previous year.
2. This summary should cover all accounts held by the kingdom in any country.
3. As the kingdom is not a legal entity, and exists in multiple legal jurisdictions, these reports are for the information of the populace only. They do not constitute legal, financial, or regulatory reporting.

Failure to report

1. Should it become apparent that the Chancellor of the Exchequer is unable or unwilling to produce a financial report for a given financial year, then the Board of SCA Ltd and Committee of SCANZ may remove them from office and appoint another person.
2. The emergency replacement deputy shall perform the duties of the office of Chancellor of the Exchequer until a permanent replacement is found.
3. Should it be apparent that a group within the kingdom is unable or unwilling to report, then this should be communicated by the Chancellor of the Exchequer to the relevant corporate Treasurer.
4. The provisions of SCANZ's constitution and SCA Ltd's financial policy will then apply, including placing the group in abeyance.

Council of the Purse

1. There shall be a Council of the Purse, consisting of the Crown (or Regent), the Kingdom Seneschal, the Chancellor of the Exchequer and the Deputy to the Chancellor of the Exchequer (AUS/NZ) to determine matters of general finance and the distribution of funds during the reign.
2. For the Council to make a decision, the members of the Council must be unanimously in agreement.
3. The Council of the Purse is responsible for approving the budget bid for every Crown event and kingdom expenditure.
4. The Royal Heirs shall be made party to discussions of the council, but not have a vote.

Levies on events

General

1. For the purposes of the kingdom event levy, SCA Ltd event membership and SCANZ event membership fees, regular activities such as fighter practices, group business meetings and informal classes are excluded from requiring collection of fees and levies.
2. Events sponsored by college groups are exempt from the requirement to collect or remit kingdom event levies, SCA Ltd or SCANZ event membership fees.
3. Incipient groups without bank accounts shall report through their supervising group.
4. Persons who pay no entry fee are exempted from kingdom event levies.

Kingdom event levy

1. Each group in the Kingdom of Lochac shall contribute to the kingdom funds.
2. For every day (up to a maximum of 5 days) of every event held, $1 from every person 18 years or older attending the event that day shall be collected.

SCA Ltd event memberships

1. SCA Ltd requires that Australian-based groups collect and remit funds for event memberships for persons who are not full members of the SCA in any country.
2. For every event held, from every non-member, adult or minor, attending the event, a fee as prescribed by SCA Ltd shall be collected.
3. Australian-based groups must report the number of, but not collect the fee from, any members of SCA Ltd affiliated organisations such as SCANZ or SCA Inc attending their events.

SCANZ event membership fees

1. SCANZ requires that New Zealand-based groups collect and remit funds for event memberships for persons who are not full members of the SCA in any country.
2. For every event held, from every non-member 18 years or older attending the event, a fee as prescribed by SCANZ shall be collected.
3. Persons who pay no entry fee are exempted from SCANZ event membership fees.

ReportingRemittance

1. At the end of every quarter (September, December, March, June), the funds collected by the group shall be remitted in accordance with the requirements of the Chancellor of the Exchequer.

Currency

1. Groups in Australia are required to calculate their amounts and remit funds in Australian dollars.
2. Groups in New Zealand are required to calculate their amounts and remit funds in New Zealand dollars (on a dollar for dollar basis).