June 18, 2009
This policy is to define the signature authority limits for the District Executive and to define when more than one signature is required on financial or legal documents.
The PCD ByLaws define the PCD officers that are authorized to sign financial or legal documents (Article XII section 6). The By-Laws also allows the Board to delegate this signature authority to the District Executive and the dollar limit is to be set by the board. The Board has previously set this limit as part of meeting minutes.
Signature authority of the District Executive
The maximum signature authority is: $10,000
Multiple Signature Requirement
When a Financial obligation or document (checks, contracts, financial documents) is greater than $10,000, at least 2 signatures are required. The required signatures are defined in the By-Laws and are to include the District Executive.
The authorized signers may not be located geographically close to the location of documents to be signed. A facsimile copy of a signature on the document or a PDF (Acrobat Portable Document Format) version of the document with a signature are acceptable methods to obtain approvals. The facsimile or PDF documents must be attached to the original document showing authorization. An email message providing approval is not an acceptable process to document authorization (unless the message contains a PDF file with the signature as part of the PDF file).