Board Orientation Manual 2024

Society’s legal advisor and by the Province’s Risk Management Branch advisor to ensure that no liability, contingent or direct, or other derogatory effect will accrue to the Society or to the Government of BC as a result of the agreement with the sponsor/partner. Renewal contracts with existing sponsors/partners do not need to be reviewed by legal or the Risk Management Branch so long as the essence of the contract has not changed from the previous version. 6.3.3 Contributions and Donations Contributions and donations must be recorded in the accounts of the Society at their fair market value in accordance with generally accepted accounting principles as described in the notes to the financial statements. Volunteer hours will not receive a monetary value, nor are they recorded as an in-kind value. 6.3.4 Host Society Funding The Ministry has agreed, and the AFA with the Host Society states that the latter is required to pay 50% of excess funds (not including merchandise sales/commissions and interest) to the Society upon completion of the Host Society audit. 6.3.5 Interest Interest earned on the trust funds kept with the Society’s financial institution is considered a source of funds for the Society. 7. PURCHASING All purchases that are not regular operating expenses, such as office supplies and ongoing accounts for phones, etc., are pre-approved by the President and CEO. Purchases are generally made either with ongoing suppliers that have been vetted or by obtaining a reasonable number of quotes. Because of these factors, purchase orders are generally not used. When purchase orders or other purchasing processes are deemed necessary, the processes in this section will be followed. 7.1 PURCHASE ORDERS When a purchase order is used, the originator will prepare a formal purchase order (P.O.) for purchases over $10,000 that documents the following information:  “Delivery Goods to” - Insert the alternate address for delivery, if different from the Society’s office.  “Goods Required by” - The final delivery date required.  “Originator” - Must be signed by the initiator who requires the goods.  “Quantity” - Quantity desired.  “Description” - A concise description of the goods.  All other fields will be completed by the Operations and Technology Manager and/or the vendor/supplier. 7.2 PURCHASING FUNCTION Each Purchase Order (P.O.) will be reviewed by the President and CEO. The Operations and Technology Manager will complete the following procedures before it is submitted to the vendor:

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