FALLS RUN COMMUNITY ASSOCIATION, INC.

Administrative Resolution No. 08-08

(Agreement for Acceptance of Responsibility for Debit and/or Credit Card by FRCA Staff Member)

The undersigned Staff Member (Authorized User) of Falls Run Community Association hereby accepts responsibility for a debit and/or credit card (Card) and agrees as follows:

• The Association Board of Directors (Board) shall designate all Authorized Users and reserves the right to request that a Card be surrendered at any time. A Card must be surrendered to the Board in the event that an Authorized User no longer serves as a Board, Committee of Staff Member of the Association.

• Upon discovery that a Card has been lost or stolen the Authorized User will report such incident immediately to the issuing agency and cancel the Card. Failure to do so may result in the Authorized User having to bear the expense of purchases made and loss of Card privileges, as determined by the Board.  Immediately thereafter the Authorized User shall notify the Board and the Agent responsible for financial management of the Association’s books and records (Financial Agent).

• The Card will be used for Association business purchases only. Personal use is strictly prohibited.

• The Card will be kept under the care and control of the Authorized User at all times and not given or loaned to any other person without express written permission of at least two members of the Board. If the Authorized User is a Board member then two other Board members must grant such permission.

• The Board hereby establishes a limit of $________________for any one purchase.

• The Financial Agent will be notified in advance in writing of all planned purchases over $2,000.

• The Authorized User must obtain receipts for all purchases. Receipts must be submitted to the Financial Agent by email, fax, mail or hand delivery within seventy–two hours of a purchase. Receipts must clearly show the vendor, date and amount of purchase. Additionally, receipts must either show or be accompanied by a document indicating the purpose of the purchase and the general ledger account code to which the purchase will be charged.

• If a receipt is lost, destroyed or otherwise not available the Authorized User must sign an affidavit indicating the vendor, date, amount and purpose of the purchase, and the appropriate general ledger account code to which the purchase will be charged. Such affidavit must also be signed by at least two members of the Association Board. If the Authorized User in this situation is a Board member then the signatures must be those of two other Board members

• Failure to provide either receipts or an affidavit may result in the Authorized User having to bear the expense of a purchase and loss of Card privileges, as determined by the Board.

I have read, understand and will abide by the above terms regarding use of a debit/credit card issued by Falls Run Community Association. 

_____________________________________________

Authorized User – Signature

_____________________________________________            _______________________

Authorized User – Printed Name                                                 Date

This administrative resolution is effective as of 27 August 2008.

FALLS RUN COMMUNITY ASSOCIATION, INC.

____________________/s/_____________________

By: Donald M. Horan, President

I attest the foregoing Administrative Resolution No. 08-08 was adopted and approved by the Board of  Directors at a duly called meeting of the Board on 27 August 2008.

___________________/s/______________________

By:  Thomas J. Whalen, Secretary