Financial Delegation Policy

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LETA recognises that volunteers holding organisational offices have to make decisions that are financial in nature. This policy gives financial delegation to the office bearers as noted below:

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Payment Authority

 

Expenditure limit                   Payment method                                                           Delegation

Less than $150                                           Cash                                                                                 Collection Team Leader

Less than $500                                         Cheque                                                                          Any one Councillor or a Director

More than $500                                        Cheque                                                                         Any two Councillor or a Director

 

LETA does not have a policy of obtaining a credit card.

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Purchase Authority

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Expenditure limit                     Payment method                                                     Approved Delegation. 

Cash less than $50                 Receipt preferred but not mandatory                                     Designated Volunteer - without approval

Cash $50-$150                                     Receipt required                                                          Designated volunteer – without approval

Less than $3,000.                            No quotation required                                                                      Any two Councillors

$3,000 to $5,000                              No quotation required                                                       Any one Coordinator and one Director

Mote than $5,000                           Two Quotations required                                                    Any one Coordinator and one Director

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Reimbursement of out of pocket expenses

 

Expenditure limit                     Payment method                                                                Delegation

$50 without receipt                        Cash out of Puja collection                                                            Collection Team Leader

$150 with receipts                          Cash out of Puja collection                                                                Any one Councillor 

More than $500 with receipts                     Cheque                                                                                   Any one Councillor

 

This financial delegation will remain in force until amended by proposal approved in the Annual Collective Meeting.