This policy sets out the principles for Financial Control and Expenses within Friends of Grindleton School PTA. It is relevant to all within the association and is endorsed by the committee of Friends of Grindleton School PTA. It will be reviewed annually to ensure that it remains appropriate to the Organisation and its volunteers’ needs.
This policy is applicable to all Trustees and Committee Members who are legally responsible for the running of the association and for all Members of the Association who are entitled to be reimbursed for out-of-pocket expenses which they legitimately incur whilst supporting the delivery of the PTA’s objectives.
Bank Account Management
- The Bank mandate will require two signatures from a pool of three to four signatories
- The Treasurer will operate the bank account and retain passwords for online banking
- Any payments made through online banking should be authorised
Use of Bank Cards
- Any Bank card issued is the property of the PTA and should be returned to the committee if the card holder is no longer an elected committee member.
- Bank cards should only be issued and used by the authorised bank signatories named on the card.
- Any purchases made using the PTA bank card require a receipt to be handed to the Treasurer for correlation with the bank statement.
- All purchases must be agreed by the committee prior to purchase.
- Any online banking details issued are to be stored safely and only known to the person they have been issued to.
- If online banking details have been issued to an individual it is for their use only and not to be shared.
- If online banking details have been issued for the association rather than individuals then these should only be known to the current bank signatories that have authority to act on behalf of the association.
- If a single authorisation is required then any payments or transfers should be made only after agreement with the committee.
- If dual authorisation is required then one person creates the transaction and another signatory authorises the transaction. The committee should have agreed to any payments or transfers in advance.
- If a person with online bank details leaves the committee they should be removed as a bank signatory and the bank notified to remove their online access.
All Trustees of the Association may be reimbursed for reasonable expenses incurred whilst carrying out their duties as a Trustee of Friends of Grindleton School PTA. A detailed list is below and all expenses must be approved by (two members of the committee) of whom neither may be the claimant.
(Insert detailed list of allowable expenses for committee members/trustees)
Receipts must be provided for all expenses over £ (enter amount)
All claims for reimbursement must be made within 30 days of the date of expense.
Members of the Association are entitled to be reimbursed for purchases made for the Association. Purchases must be pre-approved by the Treasurer or Chair and have already been agreed by the committee as an agreed spending of funds.
Any member who has not received pre-approval for a purchase is not guaranteed reimbursement.
Receipts must be provided for all purchases over £ (enter amount).
All claims for reimbursement must be made within 30 days of the date of purchase.
Waiving Expenses (Donating Expenses as Gifts in Kind)
Members who generously waive their expenses or purchases as ‘donations’ to the PTA inadvertently create some difficulties. If reimbursement of expenses and purchases are not claimed they cannot be entered in to the accounts to show both the true running costs of the PTA and the generosity of it supporters through cash-donations. If the amount of waived expenses and purchases are entered into the Charity Accounts the Charity may not claim Gift Aid on these amounts as ‘Gifts In Kind’ are excluded from Gift Aid.
Changes to the policy
The Committee reserve the right to change its Expense Policy to maintain consistency with current best practice and the needs of the Charity.
- Telephone Calls – No reimbursement will be made for telephone calls that have incurred no actual cost as they were covered by a contract which included an allocation of ‘free’ calls.
- Travel Expenses – Public transport should be used where possible, and if travel is by private vehicle then a mileage allowance will be paid as agreed by the committee in line with guidance provided by HMRC, providing the vehicle used has a valid certificate of Insurance, a valid MOT certificate and road tax ( if required).
- Mileage will be calculated from the normal place of Charity work (school address).
- Parking costs incurred when on Charity business away from the normal place of Charity work will be reimbursed.
This policy will be reviewed annually by the Friends of Grindleton School PTA committee.