Bylaw 7 – Finance (Statutes 5, 7, 8, 15)

a)    A Secretariat, staff, associated office space, materials and supplies are provided by the Government of the People’s Republic of China.

b)    Donations or contributions received from sponsoring agencies, individuals, governments or other national or international institutions may be accepted as general revenue for operations of the Secretariat and the ISDE.

c)    Any Symposium, Workshop, Summit or other events under the auspices ISDE shall submit 10 percent (10%) of the revenue of the event to the ISDE Secretariat, to support its on-going operations and activities. This shall be done as soon as possible after the conclusion of the event.

d)    Income is also derived from collection of ISDE Membership Dues.

7.2  Expenditures

a)    All funding received by the ISDE shall only be used as specified by the Council, under the By-laws of the ISDE, for the development of the ISDE and shall not be disbursed in any manner to any Officers or Members or the Executive Committee.

b)    Funding shall, for example, be used for Secretariat operations, organizing academic conferences and workshops, publications, etc., and any other matters as determined and approved by the Executive Committee.

 7.3  Management

7.3.1 The Secretary-General is authorized to sign documents related to the financial affairs of the ISDE, including all transactions for income and expenditures.

7.3.2 Externally-held (non-CAS) funds shall be audited by an external body and forwarded to the Finance and Audit Committee for their review and recommendation to the Council. In particular, the audit of the ISDE account at the Industrial and Commercial Band of China Limited (ICBC), shall be carried out every two years by an external auditing agency (Authorised by the Bureau of NGOs, Ministry of Civil Affairs, P. R. China), in accordance with current policy at RADI[1], and the results of this audit shall be provided to the Finance and Audit Committee and Treasurer, for presentation to the Council for approval.

7.3.3 As well as the audit of the ISDE external account(s), the Finance and Audit Committee will, together with RADI, provide a summary estimate of the direct and indirect contribution of RADI to ISDE operations, and this could include, but not be limited, to, RADI salaries directly and indirectly provided in support of ISDE, and an estimate of RADI direct and indirect annual financial and in-kind contributions.

7.3.4 The Finance and Audit Committee will provide a total estimate of these costs incurred by RADI related to ISDE, were they to be supplied by an organization outside of China, for comparative purposes.

7.3.5 All finances and financial transactions of the ISDE shall be governed by the Civil Code of China.