Policy on Spending Arrangements for Trustee’s meeting November 27th 2000
Revised after discussion 27.11.00
Submitted to trustees’ meeting 23.01.01 and agreed.
Following discussion at the Action Group meeting 10 July 2000 based upon a draft circulated by the chairman, the following arrangements are proposed for confirmation at this trustees’ meeting.
Annual budget process
All section leaders are asked to submit a budget forecast to the treasurer by 31st July for the year beginning October 1st. These will be considered at the trustees’ September meeting.
An approved budget, agreed by the trustees, will be returned to the section leader, and this will regulate spending for the section for the year.
Managing the budget
Section leaders must ensure that their spending limit is not exceeded.
When agreed, section leaders can spend the money on routine items as agreed in their forecast without further reference to the trustees. Major expenditure (usually capital items) which need specific agreement before purchase, will be indicated by the trustees on the returned budget sheet at the beginning of the financial year. Subsequently the trustees’ approval must be gained before any commitment to spend on major items is made.
Section leaders must ensure that money is spent only on the agreed items.
Members of a section must not spend money for their section without first consulting with the section leader.
Receipts must be obtained to support all expenditure.
Any expenditure of over £100 must normally have at least two quotations.
Any unanticipated spending that may legitimately occur during the year, must be authorised in advance by the trustees, usually by phone.
(a) Amounts of up to £250 may be authorised by the treasurer alone, although he may wish to consult other trustees. If the treasurer is not available, any one trustee may be consulted, but the first call should be to the treasurer.
(b) Amounts of over £250 must be agreed by a majority of trustees, one of whom must be the treasurer.
Occasionally it is necessary to expedite expenditure, eg as a response to vandalism. In such genuine emergencies up to £100 may be spent without the treasurer’s approval.