Sumukh: Transferred overthe old Wiki spending policy to the new web page

2025-05-02T21:15:55Z

Transferred overthe old Wiki spending policy to the new web page

← Older revision		Revision as of 14:15, 2 May 2025
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	~~Coming soon~~...		= Spending Policy for Medicine Forward (v.1) =

			===== Objective =====
			To establish clear guidelines for how Medicine Forward’s funds are allocated, ensuring transparency, fairness, and alignment with organizational priorities.

			== Spending Guidelines ==

			==== Executive Team Spending Authority ====

			* The Executive Team has the authority to spend up to '''$1,000''' on a single expense without consulting other stakeholders.
			* Individual Executive Team members can approve expenses up to '''$250''' without additional approval. This includes regular operational costs such as:
			** Software subscriptions (e.g., Squarespace, Zoom, Mighty Networks, Acuity Scheduling).
			** Administrative tools and services directly supporting Medicine Forward’s operations

			==== Project-Specific Funds ====

			* Funds raised for specific projects, such as the '''NYC Burnout Symposium Workshop''', will be used to support the goals and needs of that project.
			* The primary aim is to maximize impact and ensure fairness in how the funds are used.
			* Before completion of the project, project-specific funds should not be redirected to other Medicine Forward initiatives unless they directly contribute to the success of the funded project.
			* Any remaining funds or additional contributions may be used for unexpected expenses related to the project or allocated to future projects that align directly with Medicine Forward's mission.

			===== Spending Over $1,000 =====

			* For expenses exceeding '''$1,000''', a written proposal must be created either by the Executive Team or a designated member.
			* The proposal should outline:
			** The purpose and justification for the expenditure.
			** Expected benefits and alignment with Medicine Forward’s goals.
			* This proposal will first be reviewed internally by the Executive Team.
			* After internal review, the proposal will be shared with the 501c3 Board for transparency and consultative feedback.
			* Final decisions will rest with the Executive Team, incorporating feedback from the relevant stakeholders when possible.

			== Transparency & Constraints ==

			==== Transparency ====

			* Spending will be tracked and available for auditing and creating financial reports. Audits and reports can be requested by anyone on the 501c3 Board.
			* The 501c3 Board should be notified of new purchases, especially new recurring subscriptions like Acuity, at the next available team meeting.

			==== Constraints ====

			* No deficit spending. Verify funds are available and within budget before spending.

			== The Advice Process ==
			In line with practices from ''Reinventing Organizations'', Medicine Forward will utilize the '''advice process''' for key spending decisions:

			* '''Definition''': The advice process is a decision-making approach where individuals or teams seek input from those who will be affected by the decision or who hold expertise in the relevant area before making a final decision.
			* '''Application''': When spending decisions require broader consideration (e.g., expenses above '''$1,000''' or complex resource allocation), the Executive Team will consult with both the 501c3 Board and other relevant stakeholders through this process. This ensures that decisions are well-informed and reflective of diverse perspectives.

			<u>Last accepted by Traction Team 10/21/24 version 1.0</u>

Gabe: Created page with "Coming soon..."

2025-04-28T19:23:27Z

Created page with "Coming soon..."

New page

Coming soon...

Spending Policy - Revision history

Sumukh: Transferred overthe old Wiki spending policy to the new web page

Gabe: Created page with "Coming soon..."