Board Orientation Manual 2024

11.2 APPROVALS 11.2.1 Business Expense Claims Exceeding $5,000

Expenses coded 3010 (Business Expenses) exceeding $5,000 require pre-approval by the Board Chair upon the recommendation of the President and CEO, as per the Signing Authorities Matrix. Note that pre-approval means that no monetary commitment may be incurred before the Chair has communicated approval. 11.2.2 President and CEO Business Expense Claims up to $5,000 The President and CEO’s expenses coded 3010 (Business Expenses) must be submitted to one of the Board members with signing authority for review and approval; pre-approval is not required. Expenses coded 3010 (Business Expenses) by staff members require approval, as follows:  Pre-approval of the President and CEO is required for Business Expenses exceeding $1,000. Staff are not required to obtain pre-approval for expenses coded 3010 (Business Expenses) of less than $1,000. However, the President and CEO will monitor such expenses on a monthly basis and will take corrective action if required. 11.3 PROCEDURES Business expenses should be claimed on the regular Travel and Business Expenses form. If the occasion requires pre-approval (when exceeding $5,000) by the Board, such approval must be attached to the claim for payment. All claims for reimbursement of business expenses must be supported by the original invoices or proofs of payment. 12. SERVICE CONTRACTS 12.1 IN WRITING Any agreement or commitment of the Society, whether it requires disbursement of funds or not, should be in writing. Verbal agreements should not be used, to avoid:  Misunderstanding of the contract subject matter;  Disputes between the parties;  Unexpected expenditures; and  Unwarranted exposure to risks. Therefore, written contracts are required and should be used, but are not limited to, the following situations:  All requirements for professional services;  Sponsor or Partner Agreements;  Team BC Uniforms; and  External Transportation Agreements. 12.2 FORMAT Contracts will be documented using the Society’s standard contract template, which have been developed in consultation with the Society's legal advisor and the risk management branch to ensure that the interests and rights of the Society are maintained, and that the agreement

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