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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 /> 5.9. The purchase process for un-budgeted Capital Expenses is as follows: <br /> 5.9.1. Approval of un-budgeted Capital Expenses shall require the authorization of: <br /> 5.9.1.1. the Chief, <br /> 5.9.1.2. the Finance Committee, <br /> 5.9.1.3. the Board of Directors, <br /> 5.9.1.4. and simple majority approval of the membership. <br /> 5.10.Checks in the amount of$1,000.00 or greater require signature of two of the following three <br /> individuals: Treasurer,Chief or Chair of the Board of Directors. <br /> 5.11.The process for accessing a Line of Credit is as follows: <br /> 5.11.1. The Finance Committee shall submit a request to the Board of Directors to access a Line <br /> of Credit. <br /> 5.11.2. Approval to access a Line of Credit shall require authorization of: <br /> 5.11.2.1.the Board of Directors, <br /> 5.11.2.2.and simple majority approval of the membership. <br /> 5.11.3. Access to a Line of Credit requires two of the following signatures: <br /> 5.11.3.1.the Chief, <br /> 5.11.3.2.the Treasurer, <br /> 5.11.3.3.or Chair of the Board of Directors. <br /> 6. GUIDELINES <br /> 6.1. N/A <br /> 7. TERMS <br /> 7.1. N/A <br /> 8. REFERENCES <br /> 8.1. FIN-005 Purchase Orders <br /> 8.2. FIN-006 Check Request <br /> 8.3. FIN-007 Credit Card Use <br /> FIN-002 Spending Organization Funds.doc <br /> -Page 3 of 3 - <br />