Managing Financial Approvals Process - Revision history

NotNowCraig: Added Finance Category

2025-01-05T12:34:55Z

Added Finance Category

← Older revision		Revision as of 12:34, 5 January 2025
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	[[category:Policies, Procedures, Remits]]		[[category:Policies, Procedures, Remits]]
			[[category:Finance]]
	[[category:Freegle Board]]		[[category:Freegle Board]]

NotNowCraig at 11:43, 5 January 2025

2025-01-05T11:43:48Z

← Older revision		Revision as of 11:43, 5 January 2025
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	Rule 6 of the [[Finance_Policy]] states that all expenditure must be approved by the board.		Rule 6 of the [[Finance_Policy]] states that all expenditure must be approved by the board.

	This process describes how to manage those approvals.		This process describes how to manage those approvals.

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	====Responsibilities====		====Responsibilities====
	The individual [[budget owner]] requests the approval		The individual [[budget owner]] requests the approval

	The [[Freegle Board]] approves (or rejects) the request and agrees what [[Payment Approval Level]] is required		The [[Freegle Board]] approves (or rejects) the request and agrees what [[Payment Approval Level]] is required

	The Finance Director updates the record of approved expenditure		The Finance Director updates the record of approved expenditure

NotNowCraig at 11:43, 5 January 2025

2025-01-05T11:43:02Z

← Older revision		Revision as of 11:43, 5 January 2025
Line 10:		Line 10:
	====Responsibilities====		====Responsibilities====
	The individual [[budget owner]] requests the approval		The individual [[budget owner]] requests the approval
	The [[Freegle Board]] approves (or rejects) the request		The [[Freegle Board]] approves (or rejects) the request and agrees what [[Payment Approval Level]] is required
	The Finance Director updates the record of approved expenditure		The Finance Director updates the record of approved expenditure

NotNowCraig at 11:36, 5 January 2025

2025-01-05T11:36:20Z

← Older revision		Revision as of 11:36, 5 January 2025
Line 10:		Line 10:
	====Responsibilities====		====Responsibilities====
	The individual [[budget owner]] requests the approval		The individual [[budget owner]] requests the approval
	The [[~~Freegle_Board~~]] (or rejects) the request		The [[Freegle Board]] approves (or rejects) the request
	The Finance Director updates the record of approved expenditure		The Finance Director updates the record of approved expenditure

Line 28:		Line 28:
	* Date approved		* Date approved
	* Amount approved		* Amount approved
	* [[~~Payment_Approval_Level~~]]		* [[Payment Approval Level]]
	* Where the Approval was made (e.g. at a board meeting)		* Where the Approval was made (e.g. at a board meeting)
	* Any supporting comments/notes		* Any supporting comments/notes

NotNowCraig: Added detail on what payment approval info is recorded

2025-01-05T11:35:14Z

Added detail on what payment approval info is recorded

@@ Line 17: / Line 17: @@
 ====Outputs====
-* Updated record of payment approvals
+* Updated record of payment approvals.
 ====Process====

NotNowCraig: Created page with "Rule 6 of the Finance_Policy states that all expenditure must be approved by the board. This process describes how to manage those approvals. ====Triggers==== Approvals are made by the board. This is normally done in 3 ways: # Alongside the agreements made when setting the annual budget (the majority of financial approvals are made at this time) # As part of a decision made at a Board Meeting (recorded in the minutes) # As an ad-hoc decision between board meetings..."

2025-01-05T11:17:12Z

Created page with "Rule 6 of the Finance_Policy states that all expenditure must be approved by the board. This process describes how to manage those approvals. ====Triggers==== Approvals are made by the board. This is normally done in 3 ways: # Alongside the agreements made when setting the annual budget (the majority of financial approvals are made at this time) # As part of a decision made at a Board Meeting (recorded in the minutes) # As an ad-hoc decision between board meetings..."

New page

Rule 6 of the [[Finance_Policy]] states that all expenditure must be approved by the board.
This process describes how to manage those approvals.

====Triggers====
Approvals are made by the board. This is normally done in 3 ways:
# Alongside the agreements made when setting the annual budget (the majority of financial approvals are made at this time)
# As part of a decision made at a Board Meeting (recorded in the minutes)
# As an ad-hoc decision between board meetings

====Responsibilities====
The individual [[budget owner]] requests the approval
The [[Freegle_Board]] (or rejects) the request
The Finance Director updates the record of approved expenditure

====Inputs====
* Details of the expenditure being requested

====Outputs====
* Updated record of payment approvals

====Process====
# The Budget Owner details of the expenditure required - specifically, the amount and what it will be spent on
# The Board approves the request, following their standard decision making process
# The Finance Director updates the record of financial approvals

====Links====
* [https://docs.google.com/spreadsheets/d/13ihORiS-49zd3FYuht1sV8iGbG1I6QlLT60fvqMn30I/edit?usp=sharing Google Sheet Containing Current Approvals for Financial Year ending in April 2025] (access required)

[[category:Policies, Procedures, Remits]]
[[category:Freegle Board]]