Financial Policy
Shire of Danescombe

~ The Financial Committee for the Shire of Danescombe will consist of the Seneschal and Exchequer.

~ Exchequer to maintain bank account. Bank account will be reconciled two months prior to the following month's council meeting due to date statements are issued. (i.e. January reconciled for March meeting)

~ Seneschal to maintain petty cash. Petty cash will be reconciled each month and a report given to the branch Exchequer prior to the following month's council meeting.

~ Exchequer to provide reconciled bank statement, balance sheet and income statement for revue by the Seneschal and presentation at council meeting.

~ Petty cash will be used for any approved expense under $10 that cannot be combined with another expense in order to write a cheque. Any expense over $10 to be approved by council prior to expenditure. Any expenses not approved by council will not be reimbursed. All expense reimbursements to occur at monthly council meeting only. Exceptions may be made in case of emergency or in need of expediency.

~ In order to be reimbursed, a fully documented receipt will be provided. Said receipt to include name of store, date of purchase, amount of purchase, items purchased, and purpose of purchase.

~ All receipts will be presented to the Exchequer within 60 days of purchase.

~ Annual reports will be compiled and presented at the February council meeting. Additionally, the annual report will be published in February's newsletter for the benefit of the members of the branch.

~ A budget meeting will be held annually following the November council meeting. All Officers will submit budgets for this meeting with the purpose of preparing a budget to be presented at the December council meeting.

~ An event report will be filed for revue with the branch Exchequer within 14 days of the event. Said report will consist of a reconciled statement of income and expense, with supporting documents (receipts), along with all money from the event.

~ Any event with cash exceeding $1,000 CDN will be reconciled and a report submitted to the branch Exchequer within 5 days for revue.

~ Reconciliation of cash advances will be made within 60 days of receiving said advance.

~ Petty cash will be reimbursed when receipts total $35.00 or more.

~ No alcohol will be purchased with SCA monies or kept in Shire Stores. All bars (taverns) will be run independently by a licensed individual.

February 3, 2004 - Shire of Danescombe