Policy: Financial Authorization

Since Future Worlds Center has many projects and therefore many expenses to pay, the following financial authorization policy must be implemented:

• Purchases have to comply with the relevant project budget;
• Every purchase must be approved beforehand by the Project Coordinator of the project as well as the Financial Director;
• Project payment should be paid via cheque or electronic transfer. Cash can be used only in special circumstances approved by the Executive Director;
• Payment to Associate and payment to third parties shall be authorized by the Project Coordinator of the project as well as the Financial Director prior to payment;
• Every payment is prepared by the Financial Director, approved by the Head of the Financial Unit and signed by the person(s) authorized to sign cheques.