St Paul’s United Church
62 Peter St N, Orillia L3V 4Z1 POLICY F-1 Page 1 of 2
Subject: Signing Authority and Authorization of Expenditures Date Effective: September 5, 2018
Issued by: Finance Committee
Approved by: Leadership Team: September 5, 2018
Purpose: In order to conduct the business operations of St Paul’s United Church it is important to recognize those transactions that require a person to be approved as a signing authority in order to implement decisions of the Leadership Team.
Policy: It is the Policy of St Paul’s United Church to have in place signing authorities recognized by the Leadership Team in order to conduct the regular business of the church.
Definition: A Signing Authority is an employee or elected official of St Paul’s United Church who has the authority to sign legal documents, cheques and agreements. They may be authorized as a result of their position or specially appointed by the Leadership Team.
Approved Signing Authorities:
Banking and Cheques: Banking transactions shall require the signature of 2 persons authorized by the Leadership Team. Normally 3 or 4 persons shall be approved and include the Treasurer, Chair of the Leadership Team, Chair of Finance and/or one other person.
Employment Contracts: The Chair of the Ministry & Personnel Committee or Chair of the Leadership Team shall sign all employment contracts.
Operating Expenses: Expenditures less than $2,000 and within the approved budget may be approved by the Chair of the Leadership Team, Treasurer, Committee Chair, or Office Administrator. Expenditures greater than $2,000 or outside the approved budget require prior approval of the Leadership Team.
Capital Expenditures and Operating Expenditures Greater than $2,000: Capital expenditures and operating expenditures greater than $2,000 require prior approval of the Leadership Team who will designate an approved signing authority. In the case of recurring expenses that are part of the annual budget; such as, Mission and Service, Vista, Conference fee, etc. these may be paid by the finance administrator by electronic fund transfer subject to review by the Treasurer or Chair of Finance.
Other Contracts: The Leadership Team will designate an approved signing authority for all other contracts or transactions at the time of their approval. This may include grant applications, lease agreements, etc. In the event that time does not allow for prior approval of the Leadership Team the Chair in consultation with Treasurer may proceed to sign any necessary documentation and report such action at the next meeting of the Leadership Team.
Implementation: The Treasurer in consultation with the Finance Committee will be responsible for developing necessary procedures in order to implement the above policy.