Non-contractual Unbudgeted Purchases The General Manager may make non-contractual purchases in amounts less than $5,000 not identified in the annual budget without seeking written approval from the Board of Directors. The General Manager may make non-contractual purchases not identified in the annual budget in an amount in excess of $5,000, but no more than $10,000 after receiving the written approval of the President or Treasurer of the Board of Directors. The General Manager may make non-contractual purchases not identified in the annual budget in amounts in excess of $10,000 only after receiving the written approval or email approval from the Board of Directors. The General Manager shall provide written documentation to the Board of Directors of purchases made without Board of Directors approval at its next meeting. All Capital and Reserve items require Board approval prior to purchase. Emergency Purchases Notwithstanding the other provisions of this policy, the General Manager may make purchases in any amounts without seeking approval from the Board of Directors if the purchases are necessary for any emergency up to $5,000.00 but must still obtain the authority, written if possible, from the President, but if the President is not available, then either the Vice-President or Treasurer , for any amount over $5,000.00. An emergency is defined as any repair involving imminent danger to life or property, or immediately necessary for the preservation and safety of the property, or for the safety of Owners, or required to avoid the suspension of any necessary service to the Association and/or the Project. It is understood and agreed that the General Manager will, if possible, confer with the Board regarding emergency expenditures. The General Manager must attempt to notify all members of the Board of Directors immediately after making such a purchase. Non-Compliance The Controller is responsible to ensure this policy is followed and report to the Board President and/or Board Treasurer when not in compliance.
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