What happens to the membership fees?
In order to fulfill objectives of the alumni association many activities are pursued such as
Preparation & maintenance of website
creation & maintenance of database of past/present students
travel & honorarium expenses of the guest lecturer / industry experts to Akola (COETA)
clerical /administrative expenses at registered office
Capital expenditure for setting up office
Membership fees collected is used directly for one time capital expenditures like creation of website & database, office furniture etc. The balance amount is added to the corpus that has been created & only the interest earned on it is spent for other various activities.
Membership fees is NOT spent on arranging reunions, office bearer meetings, travel & lodging - boarding expenses of any alumni volunteers during events. Such activities are done STRICTLY on contributory basis.