SFD Policy: Financial Authorisation for payments

1. Introduction

The SFD operates using online banking. The authorisation guidelines reflect this.

2.Authorisation by a single person

The Treasurer or other approved signatory may authorise payments for goods and services where the expenditure has previously been approved by committee. All such payments must be recorded and reported to the next committee meeting.

3. Authorisation by more than one person

All payments that have not been previously authorised by committee and all payments to committee members must be authorised by a minimum of two approved signatories.

4. Authorisation of Expense Claims

Expense claims must be approved by the moderator or coordinator of the relevant competition before submission to the Treasurer. On receipt of such confirmation the Treasurer is permitted to authorise payments.

5. Officers authorised to sign

Expenditure on behalf of the Fellowship shall be authorised in accordance with this policy by the signature of the following officers:

Chairman

Vice-Chairman

Treasurer

Secretary

 

March 2020