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Shire Financial Policy

Shire of the Ruins, Kingdom of Trimaris

Financial Policy, Revised May 12, 2012

 

This document defines the financial policy for the Shire of the Ruins.  These policies provide uniform practices and standards for the financial activities of the Shire.  This policy establishes basic accounting and minimum financial requirements.

Section 1:  Financial Committee

A.       The Shire of the Ruins Financial Committee will be composed of the following officers:  The Seneschal, the Chancellor of the Exchequer, the Herald, the Marshal, and the Minister of Arts & Sciences. 

B.      The terms of the members of the Financial Committee will be concurrent with the terms of their shire offices.

C.      The Shire Financial Committee will meet at all regularly scheduled business meetings and such other times as may be deemed necessary, as determined by the Seneschal.

D.      Minutes of all meetings of the Financial Committee shall be maintained by the Chancellor of the Exchequer, the Seneschal, and the Chronicler, and stored in their perspective records.

Section 2:  Expenditures

A.       Expenditures by the Shire shall follow Society and Kingdom Financial Policy.

B.      Expenditures for Shire Officers shall be allowed for the normal costs of running the office within the budgetary guidelines approved by the Financial Committee.

1.        Covered expenses include, but are not limited to postage, communications, material that remains Shire property, and fuel mileage based on the currently allowed IRS rate for non-profit groups or payment by receipt tendered for the transporting of Shire property and equipment.  Fuel reimbursement must be preapproved by the financial committee.  Any questions concerning additional legitimate expenses should be made to the Shire Exchequer, who will forward them to the Kingdom Chancellor of the Exchequer for his or opinion, if necessary.

C.      All reimbursement of more than twenty five dollars ($25.00 USD) for officer expenses must be pre-approved in writing by the Shire Seneschal.

D.      Any reimbursement greater than fifty dollars ($50.00 USD) must be approved by the Financial Committee, except those expenses directly pertaining to event operation and administration and NMS payments.

E.       Any reimbursement greater than five hundred dollars ($500.00 USD) must be approved by the Shire Membership, as defined in Section 7. 

F.       Emergency expenses not greater than one hundred fifty dollars ($150.00 USD) per emergency may be approved by the Financial Committee not more than (3) three times per year.  The Seneschal shall determine if and when a state of emergency exists.  A report to the Shire membership regarding the emergency shall be made at the next regularly schedule business meeting following the emergency.

G.     Any approved reimbursements must be made within one month following receipt of the written request for funds.

H.      No reimbursement requests received six months after the occurrence of the expense shall be approved.  This may be waived in special circumstances by a vote of the Shire membership as defined in Section 7.

I.        Event Financial Policy.

1.       Event financial budgets will be set, announced, and voted on in a regular meeting of the Shire membership.  Overage expenses not covered by the set event budget must be approved by the Financial Committee.

2.       Shire policy regarding complimentary admission to events shall follow that of the Kingdom, as described in the Kingdom Financial Policy.  With regard to special circumstances, the membership may vote to waive the admission fee of “honored guests” attending Shire events. (Note:  NMS must still be paid to Kingdom.)

3.       Shire policy regarding refunds for events admission fees shall follow that of the Kingdom, as set forth in “Talewinds”, the official Kingdom Newsletter.

Section 3:  Signatories

A.       The Shire Seneschal shall be an alternate signatory on all shire-controlled accounts.  His or her signature must be on all checks issued by the Shire of the Ruins.  In case of an emergency, as declared by the Shire Seneschal, a designated deputy may assume these duties.  The designated deputy must be a paid member of the SCA.

B.      The Shire Chancellor of the Exchequer will be the only person to hold the Shire checkbook and to write checks for the Shire.  His or her signature must be on all checks issued by the Shire of the Ruins.  In case of an emergency as established by the Shire Exchequer or Shire Seneschal, a designated deputy may assume these duties.  The designated deputy must be a paid member of the SCA.

C.      Any and all Signatories, and/or their designated deputies may not be members of the same immediate family, nor may they reside in the same residence.

Section 4:  Financial Records

A.       All Shire financial records must be kept using the double-entry bookkeeping method.

B.      Bank statements must be received by the Shire Seneschal and the Shire Chancellor of the Exchequer directly from the financial institution, and independent of each other by mail.  Copies may not be given by the Exchequer to the Seneschal.

C.       

Section 5:  Financial Reporting and Disclosure

A.       The Shire will report quarterly to the Kingdom Chancellor of the Exchequer or his or her designated representative (Deputy Exchequer for Local Reports).  Failure to file required reports within (30) thirty days after the report deadline may be grounds for suspension of the branch or entity and/or replacement of the Chancellor of the Exchequer.  The reporting schedule is as follows: 

1.        January 1st through March 30th is due by April 20th.

2.       January 1st through June 30th is due by July 20th.

3.       January 1st through September 30th is due by October 20th.

4.       January 1st through December 31st is due by January 15th.

B.       The Shire Exchequer must provide a copy of the quarterly report to the Branch Seneschal.

C.      Financial statements consisting of a Comparative Balance Sheet and Income and Expense State must be made available to the public at least annually, whether published in a newsletter or distributed to the membership in some other form.  A copy of this printed statement must be sent to the Kingdom Chancellor of the Exchequer.

Section 6:  Controlling Cash Receipts

A.       Cast control procedures for kingdom events will be established by the Kingdom Chancellor of the Exchequer and placed in the Trimarian Kingdom Event Handbook.

B.      The Shire Seneschal will be notified as to all cash received at the end of any Shire event.

C.      The Shire Exchequer will provide a detailed report of receipts and expenses after the closing of the books for any Shire event to the shire Seneschal.

D.      The Shire Exchequer’s signature must be on all check request forms.  In case of an emergency as established by the Shire Seneschal, a designated deputy may assume these duties.  His or her signature will indicate that the check is being issued for a purpose approved by both Society Branch Financial policy and Kingdom Financial policy.

Section 7:  Review and Amendment of the Shire Financial Policy

A.       Shire Financial Policy will be reviewed whenever the office of Shire Seneschal changes hands, or every two years.

B.      Any member of the Financial Committee may submit proposed changes to the Financial Policy.  Suggestions from the populace are always welcome.

C.      Changes in financial policy will be reviewed and decided on by the Shire Seneschal and the Shire Chancellor of the Exchequer to bring forth to the membership of the Shire for a vote.

D.      The membership of the Shire must approve any changes to the Shire’s financial policy.  The term “Shire membership,” as used here, is defined as all paid members present at a regularly schedule business meeting plus those signed proxies containing voting instructions on a specific issue issued by a regularly participating paid member who is not present at that meeting, provided the proxies have been received by the Seneschal at or before that same meeting.

E.       Financial Policy will be interpreted by the Shire Seneschal and the Shire Chancellor of the Exchequer.

F.       Approval of any changes to the Shire’s financial policy can be made only after the proposed changes have been presented to and discussed at or before that same meeting.