What is a fiscal host?
Fiscal hosting is where a legally registered organisation (the fiscal host, also known as Foundation's regional official representation) holds money, trust and fiduciary duties on behalf of Foundation's global community and open source intelligence network.
The Muellners Foundation, as the principal Legal Steward, has a process in place to nominate and appoint Fiscal Hosts in each member state of the UN. These Fiscal Hosts act as fiduciary bodies and are responsible for maintaining compliance with local business laws on behalf of the Foundation. Additionally, they hold trust and funds for the Foundation while also maintaining a local membership and beneficiary citizen registry.
To ensure independence, Local Independent Boards are constituted from these Fiduciary bodies. The members of these boards work independently to advocate for the Foundation's guiding principles within their respective communities.
Furthermore, each Fiscal Host appoints an Independent Board that represents both the interests of the local community and those of the Foundation. To ensure transparency and accountability, this board also appoints a third-party Data Protection Officer, an auditor, and a chartered accountant in accordance with both the Open Constitution and any relevant local requirements regarding compliance with business laws.
💁Muellners Foundation screens Fiscal hosts, with independent and autonomous diligence, before a nomination and subsequent appointment is filed on the Open Constitution Governance System.
Muellners Foundation also periodically reviews the Fiscal Hosts' local compliance with the help of periodical audits(annual audits).
The Treasury and Regulatory Compliance audits are released to the general public, in the form of a quarterly "Transparency Report", regardless of whether local business laws require an audit or not.
The following members participate in the screening and dilligence:
Fiscal Host's Steward Group, Legal CWC and Open Council bodies namely Regulations, Legal and Treasury Council.
Representation of a Fiscal Host
Relevant: Fiscal Hosts or Fiscal Nodes on the Open Constitution Network.
Each Fiscal Node deploys and maintains a nodal ledger. See the Open Constitution Network Diagram.
Also, See the Open Constitution Network Fiscal Diagram.