From the report: "There is a policy detailing who can authorise purchases of different types or value. Whilst there isn’t formal delegated authority, the COO highlights purchases he feels requires Trustee approval in advance. This approach and limits are informally agreed, but not documented."
Recommendation: "eQuality Time should introduce formal delegated authority (within a delegated authority document) that clarifies who has the authority for making financial decisions, such as limits for committing, approving and authorising expenditure, as well as signing other legal documents such as income agreements. Proof of compliance with the delegated authority would be required, for example if two people were required to authorise a specific expenditure (eg on a purchase order)."
Recommendation 2: "The delegated authority document should include formal authorisation limits for signing income agreements."
From the report: "There is a policy detailing who can authorise purchases of different types or value. Whilst there isn’t formal delegated authority, the COO highlights purchases he feels requires Trustee approval in advance. This approach and limits are informally agreed, but not documented."
Recommendation: "eQuality Time should introduce formal delegated authority (within a delegated authority document) that clarifies who has the authority for making financial decisions, such as limits for committing, approving and authorising expenditure, as well as signing other legal documents such as income agreements. Proof of compliance with the delegated authority would be required, for example if two people were required to authorise a specific expenditure (eg on a purchase order)."
Recommendation 2: "The delegated authority document should include formal authorisation limits for signing income agreements."
Action: A delagated authority policy was written and excepted by the trustees on X eQuality Time - delegated Authority Policy.docx
Next action: review minutes to work out when this was accepted.
Next actions: send to trustees and make this post a seperate issue.