Purchase Procedure

Beginning immediately Learn to sail will conduct financial activity using the following system.  As needs arise for goods and services somethings are of necessity and some things are not an emergency.  Whenever possible try to get a donation instead of a purchase.

Learn to Sail credit cards are the preferred method to purchase supplies.  Cards are held by the President and each Treasurer.  People who use their own cash or cards will be reimbursed the following month. 

1.    If a need arises discuss it with another member, agree on its value and if under $25, purchase it. 

2.    If it is more, check with the Treasurer for fund availability or timing of purchase.

3.    If it is $100 or more we should discuss it as a group.

a.    Emergency quorum of the Board

b.    Non-emergency, general membership

4.    In any event, all should know what is being purchased and to what end.

5.    Purchases must always get an invoice or receipt for each transaction.

Financial activity will be tracked on our Daily Income and Expense Report for the Treasurer.  This will be used mostly to record expenses for purchases.

INCOME If you receive a check or cash, complete the Daily Income portion:

1.    Record whether cash or check, date, name of the giver, reason and amount.

2.     Put money and report in an envelope and call the Treasurer to deposit.

EXPENSES will be recorded daily.

1.    Record only one Purchaser per page

2.    Use one form per receipt or multiple receipts

3.    Record must show the following information:

a.    Cash or charge

b.    Date  

c.    Purchaser

d.    List Items on separate lines

e.    Reason for purchase i.e.   Examples:

                                           i.    caulk for Fleet Maint

                                          ii.    caulk for donated boat Exp.

                                         iii.    caulk for building

                                        iv.    gas for Fuel & Fleet

4.    Use the purposes printed on the form or write in your own.

5.    Attach receipts

6.    Keep records in 9X12 envelope, one for each purchaser till Treasurer collects.

If purchases exceed our budget limitations the board will alter the Purchase Procedures as necessary.  Different times of the year may require restricted activity.