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SOUTH ORANGE RESCUE SQUAD,INC. <br /> North Carolina <br /> Standard Operations Manual <br /> Subject: Spending Squad Funds SOP No.: FIN-002 <br /> Effective Date: September 8,2005 <br /> Revision Date: Authorization Signature: <br /> 1. PURPOSE <br /> 1.1. To establish guidelines,procedures,policies,constraints and authorizations for the expenditure of <br /> Squad funds. <br /> 2. OSHA REQUIRMENTS <br /> 2.1. N/A <br /> 3. CERTIFICATION LEVELS <br /> 3.1. All <br /> 4. POLICIES <br /> 4.1. SORS shall operate and spend organization funds by use of an Annual Budget. <br /> 4.2. Officers of the organization are authorized to spend funds as approved within their scope of <br /> responsibility. <br /> 4.2.1. Assistant Chiefs shall be responsible for oversight and expenditure of budgeted funds for <br /> their specific divisions. <br /> 4.2.2. The Chief Operations Officer and Treasurer shall be responsible for oversight and <br /> expenditure of budgeted funds allotted to the Administrative category. <br /> 4.3. Expenses shall be categorized in the following manner: <br /> 4.3.1. Items under$1,000.00 shall be considered Minor Expenses <br /> 4.3.2. Items between$1,000.00 and$5,000.00 shall be considered Major Expenses <br /> 4.3.3. Expenses(single or cumulative)over$5,000.00 shall be considered Capital Expenses. <br /> 5. PROCEDURES <br /> 5.1. The Treasurer shall be notified of all Squad income and expenditures for inclusion in the financial <br /> reports. <br /> 5.1.1. Notification may be accomplished electronically. <br /> 5.1.2. For Major or Capital Expenses,notification should occur prior to purchase. <br /> 5.2. Funds may be accessed via Corporate Credit Card or Check Request,except as noted below. <br /> 5.3. For all purchases,the following information,designated"Purchase Information"shall be <br /> submitted to the Treasurer for inclusion in the financial reports. <br /> FIN-002 Spending Organization Funds.doc <br /> -Page 1 of 3 - <br />