Haslemere Community Station and Signal Box Trust (HCS&SBT)
Financial Policy
Agreed by the Board of Directors – July 2023
Definitions
'Partnership' refers to Haslemere Signal Box Trust
General
- These regulations cover the financial management of the organisation and may only be amended by resolution of the HCS&SBT Board.
- The Company Secretary should provide timely accounts as necessary for accreditation and Companies House.
- The Treasurer shall be appointed by the HCS&SBT Board and maintain records as required and in accordance with the decision of the HCS&SBT Board.
Bank
Banking arrangements including mandate will be agreed by the HCS&SBT Board.
Budget
An annual budget will be maintained by the Treasurer having been agreed by the HCS&SBT Board. It will reviewed and may be amended at each meeting of the HCS&SBT Board.
Each project in the budget must have its own budget, properly costed with quotes.
Orders for Work
Orders for work may not be issued in the name of HCS&SBT unless authorised by the HCS&SBT Board.
Authorisation
Authorisation should be made by the Chairman or the Project Leader unless they have a pecuniary or non-pecuniary interest. This should be against an invoice which is available to the approvers of the payment. Details of the authorisation should be maintained by the Treasurer.
Payment
Payment may only be made for items which are contained in the most recent agreed budget and do not exceed the agreed budget. Payment is subject to there being sufficient funds available and the relevant approval.
Payments need a minimum of two people to approve them (or sign a cheque) and they must not be the authoriser of the payment nor have a pecuniary or non-pecuniary interest. Preferably this should be the Treasurer and one other.
Revenue
The Treasurer will oversee revenue and work with the other members of the HCS&SBT Board to support any funding applications and grants.
Emergency
Emergency changes to the budget and payments outside the budget may be made if
all bank signatories agree
or
a majority of the HCS&SBT Board agree
To be reviewed on a yearly basis.
29th July 2023