- The funds of the Association shall be of three kinds:
- Maintenance Fund for the running expenses of the Association.
- Special Funds for specific designated purposes, as approved by the Executive Committee.
- All funds of the Association shall be held as “Special Funds” of the College and overseen by the Treasurer of the Association, except the following:
- A bank account may be operated by the Secretary (with the Treasurer as co-signatory on a “Either or Survivor” basis) specifically for the conduct of Alumni Reunions.
- The Fund(s) for the S.C.B.M.C. Alumni Journal shall be “Special Funds” in the College overseen by the Editor, subject to periodic review by the Execu-tive Committee.
(iii) Endowment Funds, set up with the approval of the General Body, for generating income for general or designated activities of the Association.