Policy for Expenditure Approval Authorities

1. The Parochial Church Council (PCC) has the responsibility for the financial affairs of the Church.
2. The PCC will agree a budget for the annual financial period, which includes the expected costs for that period.
3. Performance against budget will be reported to the PCC on a quarterly basis
4. The PCC can authorise expenditure by the following means:-

1. Entering into a contract for services or supplies
2. Agreeing to fund a one-off purchase or project
3. Allocating a specific amount of the budget for a particular purpose to a team or individual

5. Contracts are to be reviewed at least annually to ensure they provide optimum value.
6. Regular expenditure to a particular supplier on non-contractual terms is to be reviewed annually to ensure it provides optimum value.
7. Day to day expenditure approved within the Budget will be administered by the Finance Team.
8. Approval of single item expenditure in excess of £1,000 will wherever possible be considered with the benefit of 3 quotations.
9. The Building, Facilities and Finance Team (BFF) may approve essential non-budgeted expenditure not exceeding £1,000.
10. Where circumstances arise that may necessitate the authorisation of expenditure in excess of £1,000 prior to the next PCC meeting the BFF may approve the expenditure in consultation with all reasonably contactable members of the Standing Committee subject to the requirements of paragraph 8).  
11. Where expenditure is approved in accordance with paragraph 10) the details must be presented to the PCC at its next meeting.
12. The Incumbent, Churchwardens and Treasurer may individually approve non-budgeted expenditure up to the value of £250 in any calendar month.