Policy: Financial Authorization: Difference between revisions
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* Purchases have to comply with the relevant project budget; | * 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 Officer]]; | * Every purchase must be approved beforehand by the [[Project Coordinator]] of the project as well as the [[Financial Officer|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]]; | * 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]] shall be authorized by the [[Project Coordinator]] of the project as well as the [[Financial Officer]] prior to payment; | * Payment to [[Associate]] shall be authorized by the [[Project Coordinator]] of the project as well as the [[Financial Officer|Financial Director]] prior to payment; | ||
* Every payment is prepared by the Financial | * 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. | ||
[[Category:Policies]] | [[Category:Policies]] | ||
Revision as of 06:20, 2 September 2013
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 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.
