Check Issuing Requirements SOP

(Approved February 2006)

Purpose: To establish the responsibilities for issuing checks and requirements for approving expenditures.

• The Treasurer, Reunion Planner and Members of the Board who have signed signature cards are authorized to individually issue checks. Normally, before a check is written, a receipt, invoice and/or written verifiable accounting of the requested amount will be provided to the approving agents for review as a condition of approval. In unusual circumstances, verbal approvals may be permitted and after which a written explanation will provided for the record.
   
• Payments will be made directly to the vendor or provider of goods or services whenever possible. The check writer will provide an email to the Board stating the amount, purpose and the authorizing member’s names. Receipts, invoices and verifiable accounting documentation for goods or services will be permanent records in both the secretary’s and treasurer’s files.
   
• All expenditures on behalf of the Association will require the following prior approvals: Checks under $500, two members, exclusive of the requester, that have signature authority. Checks of $500 and above will require approval of the Board.
   
• A separate account, B of A c7areunion, has been established for reunions. Expenditures for reunions are funded by prepayment specifically for that event; checks written at the reunion for amounts under $500 may be issued with approval of 2 members with signatory authority; checks $500 and above may be issued by the treasurer or reunion planner with the approval of the President or COB. Receipts, invoices and verifiable accounting documentation for reunion related expenses will be provided for the records.