A Policy relating to the purchasing and payment of expenses for the
Erin Tennis Club (the “Corporation” or the “Club”)
Adopted by the Erin Tennis Club Board on – April 10, 2019
PURCHASING POLICY
The purpose of this Policy is to provide a clear and simple procedure for the orderly purchase of goods and services for the use by the Erin Tennis Club and to ensure proper and adequate oversight of all expenditures, payments, reimbursements, and financial commitments made on the behalf of the Club by any member.
Purchases
All Club related expenses, financial commitments, contracts, or agreements to purchase any goods or services on behalf of the Club, must be pre-authorized by one or more authorizing Executive Officers prior to the expense or obligation being incurred.
For the purpose of this Policy, the authorizing Executive Officers are the current Officers with bank-signing authority including the following positions: President, Treasurer, or Vice President.
Executive officers may only authorize expenses identified in the current Club Budget, and that fall within the approved Budget allocations. Expenditures in excess of the approved Budget must be approved by the Erin Tennis Club Board pursuant to Section 3.4 of the Club By-Laws.
Executive Officers may provide pre-authorization via email or with hand-written signatures.
Exceptions
The President may incur expenses, or other financial commitments without the pre-authorization of another Executive Officer up to an amount not to exceed $500. The President may use the Club’s Debit Card to make direct payments for Club expenses also in an amount not to exceed $500.
Other Executive Officers may incur expenses without pre-authorization in an amount not to exceed $100.
Special Events including Tournaments, Socials, and Club Finale.
Committees or members appointed by the Board to run a Club Special Event are authorized to incur expenses up to a maximum of $100 without pre-authorization. All revenues realized by the Club from the Event should be submitted to the Treasurer. The Treasurer will reimburse the Committee, or appointed member, by eTransfer, or may reimburse the member from Event proceeds.
Disposition of Goods
All goods purchased by the Erin Tennis Club are the property of the Club until and unless the Executive or Board approve disposal of those goods.
Payments and Reimbursements
The Treasurer shall make all payments for expenses in a timely manner upon receipt of properly authorized invoices, bills or receipts. The Treasurer shall also re-imburse members for approved expenses .
Reimbursements to any member will be made only when submitted with the Erin Tennis Club Expense Form and appropriate supporting documentation. The Expense Form must be signed by the submitting member. The supporting documents must include the original receipts, or initialed copies, as well as the written Pre-Authorization.