Purpose

This policy establishes how purchases, reimbursements and expenditure decisions are made within the ANU Entrepreneurship Club (the Club). It ensures all funds are used responsibly, transparently and solely to advance the Club’s aims, as outlined in its Constitution.

Scope

This policy applies to:

• All members of the Executive and Subcommittee
• Any member or volunteer authorised to spend or manage Club funds
• All payments, reimbursements, and purchases made on behalf of the Club

Guiding Principles

• Transparency: Every purchase and payment must be documented and open to Executive review.
• Accountability: Only authorised individuals may approve or commit expenditure.
• Value for Money: The Club must seek the best practical balance of cost, quality, and reliability.
• Purpose Limitation: Funds must only be used for activities that further the Club’s objectives.
• Good Faith: All expenditure decisions must be made honestly and without personal benefit.

No individual may authorise or approve a transaction from which they personally benefit.

Procurement and Payment Process

All purchases must follow these steps.

Step 1 – Pre-Approval

• An approval request must be submitted to the Director, Finance & Accounting or the President before any funds are committed.
• The request should include:
  • Purpose and description of the purchase
  • Estimated cost
  • Preferred supplier or vendor
  • Name and position of the requesting member