HomeMy WebLinkAboutPR 502 FIN - Spending Authorization and Controls
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PROCEDURE PR.502.FIN
TITLE: SPENDING AUTHORIZATION AND CONTROLS
Date issued: 30 January 1998
Last revised: 10 March 2009
Authorization: Senior Staff: 14 October 1997
1.0 OBJECTIVE
To delegate to staff spending authority within specified limits and approved procedures.
2.0 DEFINITIONS
In this procedure,
2.1 Contract means any written document, signed by the appropriate signing officers
committing the Board to the acquisition of specific goods and services.
2.2 Purchase Order means a written document issued under the authority of the Co-
ordinator of Purchasing within approved tendering or acquisition procedures.
3.0 RESPONSIBILITY
Chief Financial Officer
4.0 PROCEDURES
4.1 General Delegation to Chief Financial Officer
The Chief Financial Officer is authorized to process any payments under authorized
contracts, as required under Federal or Provincial law such as pension fund
contributions, insurance plans, remittances to Revenue Canada and payments to other
Boards, and all necessary short-term financial arrangements.
The Board will be informed of the receipt of any significant additional funding
announcements (over $500,000).
4.2 Co-ordinator of Purchasing Services
The Co-ordinator of Purchasing or designate is authorized to issue under his/her own
signature purchase orders for all goods and services for which funds have been
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provided in the Board's annual budget, subject to approved tendering procedures or
other authorized means.
4.3 Delegation to Other Staff
a) Budget holders may authorize a purchase to be charged to his/her approved
Board budget, following approved competitive bid process or other acceptable
processes for acquiring goods and services (see procedure PR. 558.FIN),
subject to the following approval and signing limits:
(i) Over $200,000: Director of Education and Chief Financial Officer
(ii) Up to $200,000: Superintendents
(iii) Up to $50,000: Principals and Managers
(iv) Up to $25,000: Vice-Principals and Supervisors
(v) Up to $10,000: School Department Heads, Project Leaders and Area
Supervisors
(vi) Up to $5,000: As delegated by the principal budget holder.
b) Trustees will be notified of any payments in excess of $500,000 that do not have
prior Trustee approval.
4.4 Staff is authorized to process all payments required by legislation and Board approved
contracts without further specific Board approval.
4.5 Any contract signed by a Board employee, who is not authorized to enter into a
contract, not identified in this procedure, will be considered the obligation of the person
signing the contract and not an obligation of the Board.
4.6 Acquisition of Goods, Services, Consulting or Professional Services
a) Except in emergency or unique situation, financial commitments above the
amount of $2,500 will be in the form of purchase orders or written contracts
issued before the goods or services are acquired, in accordance with approved
procedures.
b) Sole source or emergency expenditures of less than $25,000 must be pre-
authorized by the Principal/Manager, Superintendent, and Chief Financial Officer
or Director of Education (or designate).
c) Expenditures of more than $25,000 that require suspension of normal
competitive bid process due to emergency situations must be authorized by the
Superintendent and the Chief Financial Officer or the Director of Education (or
designate) before funds are expended.
4.7 Electronic Processing
In any electronic processing of purchase orders or payments, the necessary approvals
will be indicated by electronic transmission of the authorized staff member in place of
manual signatures.
5.0 REFERENCE DOCUMENTS
Board Policy P.007.FIN: Signing Authority and Spending Controls