S5. Finances

5.1 Decentralized Fund Management: Global Commons operates without a central fund controller or authority to dictate or custody funds. There is no centralized fund within the organization.

5.2 Prohibition on Public Fundraising: Fundraising from the public, in any form, is strictly prohibited. This includes fundraising efforts for any purpose.

5.3 Approval Process for Fundraising: If any community at any level within Global Commons plans to raise funds for a specific purpose, unanimous approval from all members at the concerned level is required. All accounting should be made public immediately, and all fundraising activities must adhere to the legal procedures of the state where the community operates.

5.4 Financial Transparency: Transparency in financial matters is paramount. All financial records and transactions must be transparent and accessible to members. Any fundraising activity must be documented and made available to the entire community.

5.5 Rotating Fund Handling Committee: The fund handling committee responsible for managing funds should be revamped every three months. This rotation ensures equal participation and prevents any individual or group from exerting undue influence over financial matters.

5.6 Ethical Practices: Uphold ethical standards in all financial transactions and decision-making processes. Avoid conflicts of interest and prioritize the collective interests of the Global Commons community.

5.7 Fiscal Responsibility: Adhere to responsible financial management practices and budgetary constraints. Implement internal controls to prevent fraud and misuse of funds.

5.8 Financial Planning and Education: Develop long-term financial plans to support the organization's growth and sustainability. Provide financial education and training opportunities for members to enhance their understanding of financial management principles and responsibilities. Flexible 5*