Senatus consultum on financial disbursements (Nova Roma)

Latest revision as of 21:59, 3 February 2012

SENATUS CONSULTUM ON FINANCIAL DISBURSEMENTS

1. The purpose of this Senatus consultum is to streamline the disbursement of funds to pay for bills (both foreseen and unforeseen) and to keep the Board of Directors aware of the disbursement of funds.

2. For expenditures that have a fee of $50.00 or less the CFO has the discretionary authority to pay those expenditures as necessary. Notification to the Senate shall be required within 72 days after payment.

3. Any previously authorized expenditure where the amount is less than $50.00 greater than the budgeted amount the CFO has the discretionary authority to pay the bill. Notification to the Senate shall be required within 72 hours after payment.

4. Any previously authorized expenditure where the actual amount is more than $50.00 over the previously authorized amount – but less than $200.00 than the budgeted amount both consuls together will have the discretionary authority to authorize the CFO to pay the bill.

5. Any previously authorized expenditure where the amount is greater than $200.00 of the previously budgeted amount requires Senate approval to direct the CFO to issue payment.

6. Any item that is not listed as a previous expenditure, but exceeds $50.00 will come out of the consular discretionary funds – to a max of $500.00 per Consul (per year). The Senate may choose to reimburse the consular discretionary fund, if it so chooses.

7. Any item that is not listed as a previous expenditure, but exceeds the $500.00 cap of the consular discretionary fund must be approved by the Senate of Nova Roma within a Net 30 timeframe – beginning from the date of notification by the CFO to the Consuls or Senate, whichever is sooner. If a session of the Senate to authorize or refuse payment of this issue is not scheduled to conclude within 20 days after notification is given the financial oversight committee will have authority to authorize payment from the general fund.