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Expenditure

[/vc_column_text][/vc_column][/vc_row][vc_row margin_top=”0″ margin_bottom=”60″][vc_column][vc_column_text css=”.vc_custom_1571000950177{margin-bottom: 50px !important;}”]Spending of income obtained by the Balmes University Foundation is governed by article 37 of the Statues on Allocation of Resources

37.1. The trustees of the Foundation may contribute, of their own accord or at the request of the Board of Trustees, money, assets or rights to the Foundation, which may increase the foundation’s endowment fund or constitute a Special Fund for carrying out certain activities, provided they are compatible with the purposes of the foundation.

37.2. The Foundation may agree to receive contributions of money, property or rights from private individuals or entities, which may increase the foundation’s assets, or constitute a Special Fund in accordance with current legislation.

37.3. The Foundation’s income and annual revenue must be used to comply with the purposes of the foundation, within the limits set by current legislation.

37.4. In any case, the Foundation will allocate at least seventy percent of its income and net annual revenue to achieving the foundation’s goals, with the remainder to be used for achieving the foundation’s aims at a later date, or increasing the foundation’s equity. The Board of Trustees must approve how the remainder is used.

37.5. If the Foundation receives assets, the destination of which is not specified, the Board of Trustees must decide whether they should be integrated into the endowment fund, or be applied directly to achieving the foundation’s aims.

37.6. The allocation of at least seventy percent of income to the fulfillment of the foundational purposes must be made effective within four years from the beginning of the following financial year.

Expenditure of the Balmes University Foundation is grouped in three main categories, according to the provenance:[/vc_column_text][dt_fancy_separator][vc_column_text]

Expenditure evolution chart of the Balmes University Foundation

graf1[/vc_column_text][vc_column_text]

FUB expenditure evolution chart

[/vc_column_text][/vc_column][/vc_row][vc_row margin_top=”0″ margin_bottom=”30″ el_class=”.tagbox”][vc_column width=”1/4″][dt_fancy_separator el_width=”100″][vc_column_text css=”.vc_custom_1424944536835{margin-bottom: 10px !important;}”] Keywords
FUB, governance, managers[/vc_column_text][/vc_column][vc_column width=”1/4″][dt_fancy_separator el_width=”100″][vc_column_text css=”.vc_custom_1551959993181{margin-bottom: 10px !important;}”] Last updated[wpv-post-modified format=”d F Y, h:i”][/vc_column_text][/vc_column][vc_column width=”1/4″][dt_fancy_separator el_width=”100″][vc_column_text css=”.vc_custom_1551960012921{margin-bottom: 10px !important;}”] Source[/vc_column_text][vc_acf field_group=”4039″ field_from_4039=”field_5c4ad3d021750″][/vc_column][vc_column width=”1/4″][dt_fancy_separator el_width=”100″][vc_column_text] Was this information useful?
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