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Approved by the Board of Directors March 2014
NPMA shall maintain its accounts in financial institutions that are federally insured. All funds received by NPMA shall be deposited timely. All excess funds shall be invested in accordance with the investment policy established by the board.
All checks require signatures of two staff members, as designated by the Board.
Each designated signatory with authority to withdraw funds shall be bonded. The cost associated to secure the aforementioned coverage shall be that of NPMA. The amount of insurance coverage will be reviewed annually as a part of the budgeting process.
Not less than once a month, a check register listing the date, payee, check number and amount will be forwarded to the Treasurer for review.
Expense Report Approval and Reimbursement
All supervisors approve expense reports submitted by staff. Expense reports submitted by the Executive Vice President will be approved by the Treasurer. All expense reports will be scanned and forwarded to the treasurer as a part of the review of the check register.
All loans sought by NPMA must be pre-approved by the Board of Directors.