• Our bank account is with Alterna Savings at York Lanes. To get access to it, we have to renew our registration with YFS, and then request a bank letter. 

• To request a bank letter from YFS, go here: http://www.yfs.ca/forms

• Once we have the bank letter, take it to the bank and bring government-issued Photo ID with you. Bank will add your name to the account.

See the budget template

• UPSC’s two signing authorities are usually the VP of Finance + the President or the Chief Operating Officer.

• These two people have to be present any time money is withdrawn from our account. They must bring government-issued Photo ID with them.

• These signing authorities must also sign off on any other official business. E.g. renewal/ratification with SCLD and YFS.

• Whenever we have to pay for something (e.g. food for an event, an event photographer, etc.), we need to GET A RECEIPT. 

• The usual process is: 

  • One of us pays for the item personally with credit or debit card

  • We keep and take a picture of the receipt

  • Send receipt to VP of Finance. They put it on the Google Drive.

  • VP of Finance sends an e-Transfer to you to reimburse you

• Avoid handling cash whenever possible.

• If we have to handle cash, a paper record must be kept at all times. No money changes hands without a record of it. Print and fill out the cash form (see the Templates page).

• Any time money changes hands there must be a record of it, and at least one of the signing authorities has to sign it.

• Anytime we withdraw money from the bank, at least two authorized execs have to be there and initial the withdrawal slip. 

  • Write on the slip what the withdrawal was for (e.g. “Pizza reimbursement”), take a photo of the slip and put it in the Finance folder of the Google drive. Then update the budget.