Disbursement Procedure

a. Checks are prepared no less than once a week.

b. Checks are prepared by the Board Treasurer.

c. All checks require two (2) signatures and are subject to the additional restraints provided in this section.

d. Checks are prepared for all current obligations for which there is proper documentation of approval:

  i) For checks to individuals, there must be an approved purchase requisition, and an invoice with a different approved signature than that which appears on the requisition.

  ii) For checks to companies, there must be an approved purchase requisition, and an invoice with different approved signature than that which appears on the requisition.

  iii) For various ongoing items (such as utilities and periodic billings on previously approved obligations) there must be an approved signature on the invoice.

e. Checks are then signed by the Board Treasurer and another Board member, unless the Treasurer is one of the signatures that authorized the requisition or the payment. In that case, the check will be signed by the Board's Chief Administrative Officer and one of the other officers on the board, provided that their signatures did not authorize the requisition or the payment.

f. In situations where the Treasurer is unavailable and circumstances require a check to be signed immediately, the Board's Chief Administrative Officer or any of the other officers on the board may sign checks.

g. Once the checks are signed, they are given directly to the Board Secretary to distribute.

h. Persons signing a check or purchase requisition may not be related to the second person signing the check or a related purchase requisition.