Circular Letter 016 of March 29, 2022, District Legal Secretariat, Bogota Major’s Office
The District Legal Secretariat of the Bogota Major’s Office issued the guidelines and instructions for the annual submission of legal, accounting, and financial information (the “Annual Information”) of Non-Profit Entities (“ESAL”) incorporated in Bogota. ESALs must submit the Annual Information before the entity in charge of the inspection, surveillance, or control of each ESAL.
According to the Circular Letter 016 of March 29, 2022 (the “Circular”) the Annual Information is the following:
- Documents related to the end-of-the-year financial statements:
- Statement of financial position or balance sheet comparative with the previous year, signed by the legal representative, accountant, and statutory auditor.
- Statement of activities or statement of comprehensive income or statement of income supplemented with another statement: “Other comprehensive income”, comparative with the previous year, signed by the legal representative, accountant, and statutory auditor.
- Statement of changes in equity or Statement of Changes in Net Assets, comparative with the previous year, signed by the legal representative, accountant, and statutory auditor. This information is not mandatory for entities of Group 3 IFRS.
- Cash flow statement, comparative with the previous year, signed by the legal representative, accountant, and statutory auditor This information is not mandatory for entities for entities of Group 3 IFRS.
- Notes to the financial statements and comparative disclosures with the previous year, including a summary of significant accounting policies and their changes, if any, and other explanatory information, indicating the accounting standards applied according to the IFRS group to which the ESAL belongs.
- Certification of financial statements, which must contain the name and signature of the legal representative and accountant, as well as the professional card number of the latter.
- Statutory auditor’s report.
2. Documents related to the ordinary meeting of the highest corporate body.
- A complete copy of the minutes of the entity’s highest corporate body, taken from the corporate ledger duly registered before the Chamber of Commerce, signed by the president and secretary of the meeting, stating that the highest corporate body decided to approve or disapprove the financial statements, approve or disapprove of the management report and approve or disapprove of the project for the allocation of surpluses.
- Management report corresponding to the one approved by the highest administrative body.
- Certificate of registration of books for entities registered before the Chamber of Commerce of Bogota, in those cases where the ESAL has not submitted or renewed the certificate.
- Detailed report on the execution of the surplus project of the previous fiscal year. This report must follow what the highest corporate body approved, signed by the legal representative, accountant, and statutory auditor.
- ESALs exempted from registration with the Chamber of Commerce of Bogota must submit to the respective secretariat exercising the function of inspection, surveillance, and control, a copy of the means used to call for the meeting of the highest corporate body, along with the minutes of the respective meeting.
3. Other documents
- Copy of the professional card and certificate of disciplinary records, issued by the Central Board of Accountants, for the accountants and statutory auditors who certify and issue a report on the financial statements..
- Resource management insurance policy, under the terms of Article 184.108.40.206, National Decree 1075 of 2015 (only for Parents’ Associations, which must submit this document to the Education District Secretariat).
- In case of bylaws amendments, a copy of the minutes signed by the president and secretary of the meeting, taken corporate ledger duly registered, in which the highest corporate body approved the amendment, and a full copy of the current bylaws that incorporate the amendments.
- The district secretariats may request the annual budget project for the upcoming fiscal year.
- Complete copy of the updated National Tax Registry (RUT).
The deadline to submit the Annual Information is the first business day of May, 2022.
However, the ESALs subject to inspection, surveillance, and control of the District Legal Secretariat must report the Annual Information no later than the following dates, depending on the last digits of the NIT, without including the verification number:
Author: Manuel Monsalve I [email protected] I Corporate Law