Financial Policy¶
| Field | Value |
|---|---|
| Reference | POL-010 |
| Type | Policy |
| Version | 1.00 |
| Status | Approved |
| Owner | Treasurer |
| Approver | Board |
| Approval Reference | MIN-2026-08-02 |
| Effective Date | 2026-08-05 |
| Next Review | 2027-08-05 |
| Review Requirements | As defined in STD-001 |
| Classification | Internal |
Purpose¶
To set out how BRSA's money is looked after, and the checks that apply before it's spent - the specific thresholds referred to but not fixed by Constitution 7.3, which sets the principle (dual authorisation above a threshold) without pinning down the number.
Scope¶
Applies to all BRSA funds, expenses, and direct purchases from any BRSA-held account, made by any Committee member or volunteer.
Bank Accounts¶
BRSA holds its funds in one or more accounts in the Association's own name. At least two Committee members are signatories on each account, per Constitution 7.3.
Expenses¶
Wherever practical, a receipt or equivalent evidence is kept for any expense before it's reimbursed. Where a receipt genuinely isn't available (for example, a card machine failure), a brief note of what was bought and why is kept instead.
Authorisation Thresholds¶
The same thresholds apply whether money is being reimbursed to an individual, or spent directly from a BRSA account or card once one exists:
| Amount | Requirement |
|---|---|
| Under £100 | No pre-approval needed. Submitted with a receipt and reported to the Committee in the normal way. |
| £100 - £500 | Pre-approved by another Committee member before being incurred, wherever practical - not the person making the purchase. |
| Over £500 | Requires a quorate Committee decision, with the Treasurer specifically among those deciding, not just quorum in general. |
Where the Treasurer has a declared interest in the specific expense being approved (POL-006), the "Treasurer must be included" requirement for that item is waived, and it's decided by quorum of the non-conflicted Committee instead - the same pattern POL-006 already uses for the Chair.
Recording and Reporting¶
The Treasurer maintains accurate financial records under Constitution 7.2, and reports on BRSA's financial position to the Committee at each meeting. Approvals above £500 are recorded in the Committee Minutes as the decision they are, not just noted in passing.
Related Documents¶
- Constitution, Section 7 (Finances)
- POL-006 Conflicts of Interest Policy
- PROC-002 Committee Meetings and Minutes
Review Requirements¶
As defined in STD-001.
Change History¶
| Version | Date | Author | Summary |
|---|---|---|---|
| 0.10 | 2026-07-24 | DC | Initial draft |
| 0.50 | 2026-07-24 | DC | Version -> 0.50; Status -> Review |
| 1.00 | 2026-08-05 | DC | Version -> 1.00; Approval Reference -> MIN-2026-08-02; Status -> Approved; Effective Date -> 2026-08-05; Last Reviewed -> 2026-08-05; Next Review -> 2027-08-05 |