in
value. A minimum of three bidders will be contacted. All
written bids will be kept on file as confidential to anyone
outside the board and designated staff.This board will invest surplus funds only in low risk, shortterm, investments that are guaranteed.
All investments and cashing in of investments must be approved by the board.
Investment income/interest will be recorded as revenue and assigned to the agency’s discretionary reserve fund.
Payroll deductions and GST will be remitted to the appropriate government departments in a timely and accurate manner.This will be the responsibility of the Executive Director even if this duty is performed by the bookkeeper.
This agency shall use funds for purposes as agreed upon with the funding agencies or other contributors.
Financial records, in hard copy (paper) will be maintained in a secure location within the office for a period of seven years.These records will also be maintained on disk, indefinitely.
Decisions about handling surplus/reserve funds will be made by the Board after consulting the guidelines of the major funders.
see also Personnel Policies
Payroll management and salary and compensation guidelines will be determined by the board within budgetary constraints.The Personnel and Finance Committees will work collaboratively to make recommendations to the board.
Payroll will be paid every two weeks on Thursday.
Contract employees are to be paid as per conditions outlined in their contract.
All contracts must be approved by the board before being signed by two designated signing officers. Any subsequent changes to the contract must also be approved by the board.
Tendering is required for contracts over $ in
value. A minimum of three bidders will be contacted. All
written bids will be kept on file as confidential to anyone
outside the board and designated staff.
This agency adheres to the Training Supports Policy as
defined in Appendix Three, in the Literacy and Basic Skills
Program Guidelines.