Introduction 

This policy sets out the principles for Financial Control and Expenses within St Dominic Savio PTA. It  is relevant to all within the association and is endorsed by the committee of St Dominic Savio PTA. It  will be reviewed annually to ensure that it remains appropriate to the Organisation and its  volunteers needs. 

Applicability 

This policy is applicable to all Trustees and Committee Members who are legally responsible for the  running of the association and for all Members of the Association who are entitled to be reimbursed  for out-of-pocket expenses which they legitimately incur whilst supporting the delivery of the PTA’s objects. 

Bank Account Management 

  • The Bank mandate will require two signatures from a pool of three to four signatories • The Treasurer will operate the bank account and retain passwords for online banking • Management accounts will be drawn up quarterly to ensure all transactions are accurately  recorder within the financial statements.  

Online Banking 

  • Any online banking details issued are to be stored safely and only known to the person they  have been issued to.  
  • If online banking details have been issued to an individual it is for their use only and not to be  shared. 
  • If online banking details have been issued for the association rather than individuals, then  these should only be known to the current bank signatories that have authority to act on  behalf of the association. 
  • If dual authorisation is required, then one person creates the transaction, and another  signatory authorises the transaction. The committee should have agreed to any payments or  transfers in advance. 
  • If a person with online bank details leaves the committee, they should be removed as a bank  signatory and the bank notified to remove their online access. 

Expenses 

All Trustees and volunteers of the Association may be reimbursed for reasonable expenses incurred  whilst carrying out their duties as a Trustee of St Dominic Savio PTA. 

  • Receipts must be provided for all expenses, any claims submitted without a valid receipt will  not be reimbursed by the association.  
  • Expense claim form must be submitted, along with proof of purchase (receipts). • All claims for reimbursement must be made within 30 days of the date of expense.

Purchases 

Members of the Association are entitled to be reimbursed for purchases made for the Association.  Purchases must be pre-approved by the Treasurer or Chair and have already been agreed by the  committee as an agreed spending of funds. 

  • Receipts must be provided for all expenses, any claims submitted without a valid receipt will  not be reimbursed by the association.  
  • Expense claim form must be submitted, along with proof of purchase (receipts). • All claims for reimbursement must be made within 30 days of the date of expense. 

Waiving Expenses (Donating Expenses as Gifts in Kind) 

Members who generously waive their expenses or purchases as ‘donations’ to the Charity  inadvertently create some difficulties. If reimbursement of expenses and purchases are not claimed  they cannot be entered into the accounts to show both the true running costs of the PTA and the  generosity of its supporters through cash-donations. If the amount of waived expenses and purchases  are entered into the PTA accounts the PTA may not claim Gift Aid on these amounts as ‘Gifts In Kind’  are excluded from Gift Aid. 

Cash Handling 

  • During all events, cash should be kept within the container allocated to the stall and left until  the takings are counted. 
  • All takings from the events must be kept in the school’s secure locker after the event, until  the cash is counted. 
  • All cash takings must be counted within one week of the event taking place. • Cash taking must be counted and bagged, prior to being removed from the school premises. • Cash must be counted by one person and verified by an unrelated trustee.  • Bank pay in slip must be completed after the cash count to keep record of the takings. 

Changes to the policy 

The Committee reserve the right to change to this policy to maintain consistency with current best  practice and the needs of the PTA. 

Explanatory Notes: 

  • Telephone Calls – No reimbursement will be made for telephone calls that have incurred no  actual cost as they were covered by a contract which included an allocation of ‘free’ calls. • Travel Expenses – Public transport should be used where possible, and if travel is by private  

vehicle, then a mileage allowance will be paid as agreed by the committee in line with  guidance provided by HMRC, providing the vehicle used has a valid certificate of Insurance, a  valid MOT certificate and road tax ( if required). 

  • Mileage will be calculated from the normal place of PTA work: St Dominic Savio Primary  School, Western Ave, Woodley, Reading, Berkshire, RG5 3BH.  
  • Parking costs incurred when on Charity business away from the normal place of Charity work  will be reimbursed.

This policy will be reviewed annually by the St Dominic Savio PTA committee prior to the AGM.