Payments to the LOC
All registration fees are to be paid to the LOC.
The amount of the registration fee will be determined by the LOC
in consultation with the IEC.
It shall comprise amounts contributing to supporting the expenses of (a)
organizing and conducting the Congress, (b) publishing the proceedings,
and (c) inter-Congress activities (IEC
and other functions that the IEC
essential to achieving the objectives of the ICAC.
Continuing ICAC funds administered by the IEC
Credits. The ICAC fund may receive moneys
from the following sources: (a) a part of the registration fee, (b)
surplus funds not expended by the LOC for costs of a Congress
(including publication of the proceedings), (c) sale of proceedings
and separata when these are administered by the ICAC rather than by
another publisher, (d) royalties from a publisher, (e) grants, and
Debits. The IEC may expend funds for (a)
operating costs, (b) assistance in publication of the proceedings,
(c) publication of Directory, (d) assistance to LOC, and (e) grants
to students and others for attendance at ICAC.
Management of funds
Funds will be handled by the IEC Treasurer, who will be responsible
for reporting on the status of the funds to the IEC annually (via the
Secretary) and to the CM at each Congress. Funds will be maintained in a
form that will provide some income, but they will not be invested in any
way that does not guarantee their security or that may interfere with
the taxfree status of the ICAC. Funds will be held only in a country
that permits the free inflow and outflow of local and foreign currency.