Financial Matters

7.1 The accounting period begins on January 1st and ends on December 31st of each year. The General Secretary is in charge of the daily financial management of NEVZA.

The Presidency is responsible for preparing and arranging auditing of the annual financial report, and submitting it for approval to the General Assembly.

7.2 Financial resources of NEVZA and income are based on:
1. Annual membership fee of the member Federations
2. Surplus from activities organized by NEVZA
3. Administration fee for participation in NEVZA activities
4. Income from eventual sponsorships and TV rights
5. Any additional donations or financial support from member Federations, countries of FIVB and/or CEV and FIVB and/or CEV themselves.

t is not possible for a member to participate in activities arranged by the NEVZA unless the annual membership fee or any other due payments of fees or sanctions to NEVZA has been paid.

7.3 The General Assembly fixes the yearly financial compensation for the Federation, holding the seat of the General Secretary for the elected period (two years).

7.4 The General Assembly will, after an introduction of the Presidency, determine the amounts of the under article 7.2 and