The Treasurer of the club is the custodian of all club funds, and he is required to accurately report the status of the club accounts to the Board of Directors each month and to the general membership during each Club Assembly and during the Annual General Meeting each year.

KGM operates two very distinct types of fund:

The General Fund ("The Club"):

This is the club's fund (possibly operated with multiple bank accounts), which obtains it's income from new member joining fees and semi-annual dues and from which all club overheads are paid. Overheads of the club (which must all be approved in advance and each time by the Board of Directors) include, but are not necessarily limited to:

1) All costs in respect of printing and stationery, irrespective of whether the items are actually produced by the club or obtained from Rotary International;

2) All expenses in respect of postage, postbox rental, public relations, telecommunications, tokens of congratulation or bereavement (e.g. flowers or wreaths) and the like.;

3) The costs of lunches and refreshments for guest speakers and their assistants;

4) Meeting room and/or audio/visual equipment hiring charges, if any;

5) All costs in respect of awards for members and/or recipients of Vocational Service awards etc.;

6) All costs is respect of regalia including sashes, name plates, gavels, bells, Rotary pins for new members etc.

7) All Rotary International and District 3450 dues;

8) All full or partial subsidies given to directors, members, Interactors and Rotaractors in respect of their attendance at Rotary/Interact/Rotaract seminars, assemblies, conferences and other similar events;

9) Bearing the cost of deficits for any club event, including fellowship events, which fail to be fully self-financing;

10) Acting as "temporary custodian" of local currency contributions designated for the Rotary Foundation, although members are encouraged to purchase their own US currency bank drafts payable to the foundation.

The Community Service Fund ("The Company"):

This is the club's "sacred" fund (possibly operated with multiple bank accounts), which obtains it's income from fund-raising events, weekly "blue box" collections, surpluses which may be achieved during fellowship or other club events and any other donations made to the club, either openly or anonymously.

These funds are used wholly, solely and exclusively to fund local and/or international community service projects (including our share of participation in "Matching Grants" or similar projects, authorised by the club Board of Directors and Rotary International), and may NOT be used under any circumstances to fund any club overheads whatsoever.

It has been a long-standing policy of the club, which has been repeatedly adopted by every Board of Directors, that every single dollar earned by the Community Service Fund is used to fund projects which will assist the less fortunate in our local and international communities.

Note that in respect of fund-raising events, only the net income shall be deposited into the Community Service Fund. In other words, direct expenses incurred to organise or host such events should be paid from income achieved at or during the subject event or, if absolutely necessary, temporarily "borrowed" from the club's General Fund.

General Duties:

In observance and compliance with the foregoing criteria, the Treasurer is required to maintain strict controls over all club funds and he is required to ensure that:

1) All overheads and expenses are approved in advance by the Board of Directors (save and except for items which are authorised by the President alone under any limited discretionary spending power entrusted to him by the Board);

2) In respect of the General Fund, all overheads and expenses are paid in a timely manner;

3) All club funds earn as much interest as possible and that bank charges are kept to a minimum;

4) All bank accounts maintain a credit balance and they are operated by authorised signatories as designated by the Board of Directors;

5) In respect of the Community Service Fund, that funds available for expenditure during the current Rotary year are clearly reported separately from funds being raised for use in subsequent years;

6) To avoid any potential speculative losses, that funds are retained in the currency in which they are received.

7) An annual external audit is completed for the club and the company books of account and that both the club and the company comply with the laws of Hong Kong (in cooperation with the club Secretary).

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