17 SA Cheque Policy

Student Association financial transactions are completed using appropriate accounting procedures as per NSCC’s Director of Audit.  The SA Cheque Policy ensures that fiduciary responsibility is maintained throughout all processes involving finance. All student leaders should be familiar with this policy.

Cheque Writing

We review the cheque writing process under the VP Finance training in Module 5. If you are an account signatory, it is recommended to also review this chapter of the training course.

Advanced Cheques

• Advanced cheques are available to Student Association Executives for Student Association business only.
• Advanced cheques are NOT to be issued as advances of honorariums, loans, or anything of a personal nature.
• Requests for advanced cheques should be submitted at least 1 week in advance of the event/date the purchase is required to allow for time to approve the purchase, review the request, write and sign the cheque, collect and cash the cheque, as well as make the associated purchase(s).

Advanced Cheque Process

1. The Executive who is requesting the advanced cheque should complete the Advanced Cheque Request Forms and submit it to the VP Finance.
2. VP Finance will review the request and write the cheque as long as the Executive is eligible for the advance, as per the cheque writing process.
3. The Executive will then deposit the cheque through their bank and make the necessary purchases that the cheque was issued for.
4. The Executive should return all receipts and any change that remains from the cheque total back to the VP Finance in a timely manner.

When requesting an Advanced Cheque that requires one or more signatures from Student Life (in cases of emergency signatory requirements), please allow a minimum of 2 weeks for processing. This time is required to allow the cheque to be processed and sent to your campus via intercampus mail or otherwise.

Reimbursement Process

1. Executives wishing to make a purchase out of pocket may do so for approved purchase only. Purchases can be approved by the Executive tam prior to the purchase being made.
2. The Executive who made the purchase out of pocket should submit their receipts along with the Cheque Request Form to the VP Finance.
3. VP Finance will review the request, receipts, and write the cheque as long as the Executive’s purchase was valid, as per the cheque writing process.

Reimbursement is the standard process for ensuring that anyone who paid out of pocket for approved purchases receives repayment of those funds. This includes, but is not limited to SA Executives, Coordinators, SA Advisors, Staff, Faculty, Society Chairpersons, Team Captains, etc. Receipts must accompany the completed cheque request form to be eligible for any and all reimbursements.