Article 2 – FINANCIAL MANAGEMENT
- Financial aspects are managed within the limits of the Balance Statement duly approved by the W.U.K.O.-Directing Committee (hereinafter referred to as W.U.K.O.-DC). Earnings are represented by affiliation fees and membership fees, by the revenues of the events organised on a worldscale, from the contributions received from third parties and from the revenues of all the institutional activities.
- The financial year shall coincide with the calendar year.
- The Budget for each financial year (accompanied by the programme of the activities for the year) and the Balance Account (accompanied by the Auditor's Report) shall be approved by the W.U.K.O.-DC. The Associations' Meeting shall be called at the next Senior World Championship, to resolve approval of the Balance Statement if the Auditors express a negative opinion.
- The central and peripheral bodies shall be under obligation to contain expenses within the limits of the approved Balance Statement.
