CRAOL’s Treasurer prepares a yearly financial report for consideration by the Co-ordinating Committee in February of the year following. This report then forms the basis of CRAOLS audited accounts which are prepared by CRAOL’s Accountant and Auditor. The audited accounts are then presented to the AGM in April/May.
In the 2008 accounts, a separate audited cost statement for each of CRAOL’s primary income/expenditure lines (BCI, Wheel, Sound and Vision) was included for the first time. In 2009s Accounts, BCI expenditure was further broken down by strategic area and activity line.
CRAOL adopted financial guidelines in June 2009 and an amended version was agreed in July 2009.
In July 2009, CRAOL underwent a rigorous external audit on all its accounting, financial management, expenditures, and decision making procedures.