10.4 TREASURER

(a) With the exception of the monies allocated for the GAARA ice pool, Shall receive all monies from the teams related to regular season play (ORA registration fees and GAARA association fees including Team Bond) and the Tournament Committee and shall deposit the same in the banking institution as approved by the Executive;

(b) Shall pay out monies only on the authority of the Executive;

(c) Shall pay by cheque countersigned by one other officer as designated by the Executive;

(d) Shall report on the financial position of GAARA at each Executive meeting and at each general meeting;

(e) Shall prepare a budget for the association year;

(f) Shall present a financial statement at the first general meeting of the following year; and

(g) Shall make the financial records available at any time to any member of GAARA.