We are examining the feasibility of switching to a one signature policy(ceo or coo) for checks under a specified amount from our current two signature requirement(board member + ceo). Does anyone currently use a one signature process and would you be willing to share your written policy and any changes you made to your checks & balance procedure? We sometimes have trouble finding a board member available to sign the checks and are getting dinged with increasing late payment fees. Thanks in advance. Jeff Leber Rivers of Steel National Heritage Area [Email Removed]

After discussing with our auditors, we changed our policy to one signature under $5,000. Two signatures (ED or DED and member of the Executive Committee of the Board) are required for checks equal to or greater than $5,000.

Our policy is for one signature $1,000 and under, 2 for over $1,000. A Board Member signature is required for over $2,000, but what our auditor has approved is that instead of a board member signing the actual check, I fax them a fax cover sheet with the pertinent info as well as a a copy of the check and all the backup. The fax cover sheet has a place for Board Approval. All the Board Member has to do is sign & fax back the cover sheet. I then attach the approved cover letter to the cash disbursement info and file it.