Policy: Financial Authorization

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

  • Purchases have to comply with the relevant project budget;
  • Every purchase must be approved beforehand by the Coordinator of the project as well as the Financial Officer;
  • Project payment should be paid via cheque or electronic transfer. Cash can be used only in special circumstances approved by the Chair of the Board;
  • Payment to Associate shall be authorized by the Coordinator of the project as well as the Financial Officer prior payment;
  • Every payment is prepared by the Financial Officer and approved, signed by the Chair of the Board.