Butterflies en Mexico by Mariposa Project

Policies and Procedures

Subject:  Spending

Effective Date:

Policy Section:  Finances

Supersedes Policy and Procedure No:

P & P No: 2

Approved on: 6-21-11

Approved by: Board

Reviewed: 9-27-12, 9-23-14, 10-04-16

POLICY:  Spending of income

PURPOSE: Clarifying who, how and what procedure will be followed when spending capital of the organization.

RESPONSIBLE PERSON (S):  Executive Director/Board President

PROCEDURE:

Long notice – a vote of the board will agree on expenditures of over $500 USD or the current exchange rate in pesos.

Short notice (less than a week) - In case of an emergency the executive director and board president must mutually agree that an emergency amount of money is required to remedy the situation.

EVAULATION: Review bi-annually