NotNowCraig: Added Finance Category

2025-01-05T12:36:07Z

Added Finance Category

← Older revision		Revision as of 12:36, 5 January 2025
Line 44:		Line 44:

	[[category:Policies, Procedures, Remits]]		[[category:Policies, Procedures, Remits]]
			[[category:Finance]]

NotNowCraig: Added category

2025-01-05T11:52:20Z

Added category

← Older revision		Revision as of 11:52, 5 January 2025
Line 42:		Line 42:
	* New spend items where the approval has not yet been put in place		* New spend items where the approval has not yet been put in place
	\|}		\|}

			[[category:Policies, Procedures, Remits]]

NotNowCraig: Created page with "The use of this set of payment approval levels was agreed by the board at the Board Meeting on 4th July 2023. ====Overview==== When expenditure is approved (see Managing Financial Approvals Process) a payment approval level is assigned, to show how any actual payments should be validated when they are requested The table below describes the levels {| class="wikitable" |+ APPROVAL LEVELS |- ! Approval Level !! Approval Process !! Used For !! Example |- | Level 1||..."

2025-01-05T11:51:25Z

Created page with "The use of this set of payment approval levels was agreed by the board at the Board Meeting on 4th July 2023. ====Overview==== When expenditure is approved (see Managing Financial Approvals Process) a payment approval level is assigned, to show how any actual payments should be validated when they are requested The table below describes the levels {| class="wikitable" |+ APPROVAL LEVELS |- ! Approval Level !! Approval Process !! Used For !! Example |- | Level 1||..."

New page

The use of this set of payment approval levels was agreed by the board at the Board Meeting on 4th July 2023.

====Overview====
When expenditure is approved (see [[Managing Financial Approvals Process]]) a payment approval level is assigned, to show how any actual payments should be validated when they are requested

The table below describes the levels

{| class="wikitable"
|+ APPROVAL LEVELS
|-
! Approval Level !! Approval Process !! Used For !! Example
|-
| Level 1|| Treasurer submits payment request in Unity
Payment is authorised by 2nd person (Payment Authoriser) in Unity
|| Where:
* An approval is already in place
* The amount is less than the approved amount / average spend
* The item is clearly directly related to the budget item
||
* Paying for services supplied by contractor where contract in place
* Paying for technical services specified in the budget
|-
| Level 2 || Treasurer polls Finance Subcommittee (FSC) to obtain confirmation/approval
A simple majority of all FSC members required to progress
Treasurer submits payment request in Unity
Payment is authorised by 2nd person (Payment Authoriser) in Unity
|| As per level 1, except:
* The budget line item is a broad category and further scrutiny is required to confirm the expenditure falls within that item
* The total spend is less than the approved amount, but the run rate indicates a breach in the future
||
* Expense payments made for Media, Councils or IT
|-
| Level 3 || Finance Director polls board to obtain confirmation/approval
A simple majority of all board members required to progress
Treasurer submits payment request in Unity
Payment is authorised by 2nd person (Payment Authoriser) in Unity
|| As per level 2, except:
* No approval is in place
* The payment will breach the approved amount for that budget line
* The budget line item is a very broad placeholder and confirmation is required that the expenditure falls within it
||
* New spend items where the approval has not yet been put in place
|}

Payment Approval Level - Revision history

NotNowCraig: Added Finance Category

NotNowCraig: Added category