15. Property and trusteeship

• 15.01 15.02 15.03 15.04 15.05 15.06 15.07 15.08 15.09 15.10 15.11 15.12

Records, trust accounts and property registers

Friends should ensure that the trusts on which legacies and other gifts are held are recorded in some way that will make future reference easy. A separate account should be kept in the books of the meeting, committee or other Quaker body for each fund held on separate trusts, so as to avoid any inadvertent expenditure of capital or income for a purpose for which it was not intended. All such funds, while being separately identifiable, should be included as an integral part of the annual report and accounts of the meeting, committee or other Quaker body which holds them in trust. Consequently they are subject to the examination, auditing and reporting requirements applicable to such accounts (14.22).

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