Policy: Treasury

TREASURY POLICY of the Charbonneau Men’s Club

Confirmed by Board of Directors 12/4/2018

Cash or Accrual:

The preferred method for managing the club’s financial assets is the cash basis method.

The accrual method of accounting will continue to be used for annual preparation of IRS filings.

Authorization for Payments:

Requests for reimbursement or invoice payments that HAVE been anticipated in a Line Item in the Board of Directors Approved Budget, require only ONE Board Member authorization for hand-written or online-banking checks.

Requests for reimbursement or invoice payments that HAVE NOT been anticipated in the approved budget, require TWO Board Member authorizations.

Requests for reimbursement of expenses by a Board Member, cannot be signed or authorized solely by the person receiving reimbursement.  A second signature or authorization is required.

Guidelines for Capitalization by Asset Classification:

Furniture and equipment capitalized:

  • All purchases of items costing greater than $1,000.
  • Multiple purchases with an aggregate value greater than $2,000.
  • All other purchases shall be charged to expense.

Computer equipment capitalized:

  • All purchases of items costing greater than $1,000.
  • Multiple purchases with an aggregate value greater than $2,000.
  • All other purchases shall be charged to expense.

Software and related licenses capitalized:

  • External software or licenses purchases greater than $1,000.
  • Multiple software purchases with a value greater than $2,000.
  • All other purchases shall be charged to expense.
  • Web site development costs shall be expensed.

All purchases of food and beverages shall be expensed.

All purchases marketing & advertising materials shall be expensed.