sec.740Financial policies

### sec.740 Financial policies An organisation must have a policy, complying with the requirements prescribed by regulation, for each of the following— decision-making about, and reporting of, the organisation’s financial matters; authorisations and delegations relating to the organisation’s spending; the organisation’s credit cards, including— issuing, using and cancelling credit cards; and accountability for, reporting about, and audit of, the use of credit cards; the organisation’s contracting activities, including the following— tender and selection processes; reviewing significant contracts; disclosing the identity of, and arrangements with, key service providers; travel and accommodation, including— spending by the organisation; and receipt of hospitality benefits by its officers or employees from other entities; spending on, and receipt of, entertainment and hospitality; providing food or beverages to a person visiting the organisation in an official capacity providing food or beverages for a conference, course, meeting, seminar, workshop or another forum held by the organisation for its officers, members, employees or other persons paying for an officer or employee of the organisation to attend a function as part of the officer’s or employee’s official duties or obligations gifts, including giving, receiving and disposing of gifts; how complaints about financial matters are dealt with; another matter relating to the financial management or accountability of the organisation prescribed by regulation. Maximum penalty—85 penalty units. In this section— contracting activities means activities for the making of a contract for— the carrying out of work; or the supply of goods or services; or the lease of land; or the disposal of assets. (sec.740-ssec.1) An organisation must have a policy, complying with the requirements prescribed by regulation, for each of the following— decision-making about, and reporting of, the organisation’s financial matters; authorisations and delegations relating to the organisation’s spending; the organisation’s credit cards, including— issuing, using and cancelling credit cards; and accountability for, reporting about, and audit of, the use of credit cards; the organisation’s contracting activities, including the following— tender and selection processes; reviewing significant contracts; disclosing the identity of, and arrangements with, key service providers; travel and accommodation, including— spending by the organisation; and receipt of hospitality benefits by its officers or employees from other entities; spending on, and receipt of, entertainment and hospitality; providing food or beverages to a person visiting the organisation in an official capacity providing food or beverages for a conference, course, meeting, seminar, workshop or another forum held by the organisation for its officers, members, employees or other persons paying for an officer or employee of the organisation to attend a function as part of the officer’s or employee’s official duties or obligations gifts, including giving, receiving and disposing of gifts; how complaints about financial matters are dealt with; another matter relating to the financial management or accountability of the organisation prescribed by regulation. Maximum penalty—85 penalty units. (sec.740-ssec.2) In this section— contracting activities means activities for the making of a contract for— the carrying out of work; or the supply of goods or services; or the lease of land; or the disposal of assets. - (a) decision-making about, and reporting of, the organisation’s financial matters; - (b) authorisations and delegations relating to the organisation’s spending; - (c) the organisation’s credit cards, including— (i) issuing, using and cancelling credit cards; and (ii) accountability for, reporting about, and audit of, the use of credit cards; - (i) issuing, using and cancelling credit cards; and - (ii) accountability for, reporting about, and audit of, the use of credit cards; - (d) the organisation’s contracting activities, including the following— (i) tender and selection processes; (ii) reviewing significant contracts; (iii) disclosing the identity of, and arrangements with, key service providers; - (i) tender and selection processes; - (ii) reviewing significant contracts; - (iii) disclosing the identity of, and arrangements with, key service providers; - (e) travel and accommodation, including— (i) spending by the organisation; and (ii) receipt of hospitality benefits by its officers or employees from other entities; - (i) spending by the organisation; and - (ii) receipt of hospitality benefits by its officers or employees from other entities; - (f) spending on, and receipt of, entertainment and hospitality; Examples of entertainment and hospitality— • providing food or beverages to a person visiting the organisation in an official capacity • providing food or beverages for a conference, course, meeting, seminar, workshop or another forum held by the organisation for its officers, members, employees or other persons • paying for an officer or employee of the organisation to attend a function as part of the officer’s or employee’s official duties or obligations - • providing food or beverages to a person visiting the organisation in an official capacity - • providing food or beverages for a conference, course, meeting, seminar, workshop or another forum held by the organisation for its officers, members, employees or other persons - • paying for an officer or employee of the organisation to attend a function as part of the officer’s or employee’s official duties or obligations - (g) gifts, including giving, receiving and disposing of gifts; - (h) how complaints about financial matters are dealt with; - (i) another matter relating to the financial management or accountability of the organisation prescribed by regulation. - (i) issuing, using and cancelling credit cards; and - (ii) accountability for, reporting about, and audit of, the use of credit cards; - (i) tender and selection processes; - (ii) reviewing significant contracts; - (iii) disclosing the identity of, and arrangements with, key service providers; - (i) spending by the organisation; and - (ii) receipt of hospitality benefits by its officers or employees from other entities; - • providing food or beverages to a person visiting the organisation in an official capacity - • providing food or beverages for a conference, course, meeting, seminar, workshop or another forum held by the organisation for its officers, members, employees or other persons - • paying for an officer or employee of the organisation to attend a function as part of the officer’s or employee’s official duties or obligations - (a) the carrying out of work; or - (b) the supply of goods or services; or - (c) the lease of land; or - (d) the disposal of assets.