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----- Forwarded by John Echols/Enron Communications on 10/05/00 05:16 PM ----- Rod Hayslett@ENRON 10/05/00 04:52 PM To: Terrie Wheeler/GPGFIN/Enron@ENRON cc: Bob Butts/GPGFIN/Enron@ENRON, Wes Colwell/HOU/ECT@ECT, John Echols/Enron Communications@Enron Communications, shawn.kilchrist@enron.com, Larry Dallman/GPGFIN/Enron@ENRON, Lisa Sutton/FGT/Enron@ENRON Subject: Re: Cash Controls & Approval Authorizations These will not work for GPG as they are all above thresholds in agreements with 3rd parties and we desire to operate with a greater level of control than these proposed levels allow. See my recommendations below. Terrie Wheeler 10/05/2000 03:45 PM To: Bob Butts/GPGFIN/Enron@ENRON, Wes Colwell/HOU/ECT@ECT, John Echols/Enron Communications@Enron Communications, Rod Hayslett/FGT/Enron@ENRON cc: Subject: Cash Controls & Approval Authorizations Bob, Wes, John & Rod - Rick has asked that we develop Minimum Cash Control Standards. These have been completed and we'll be meeting with each of you within the next 2 weeks to discuss. A critical part of these Standards are "Authorization Guidelines" for approving transactions and payment execution. These guidelines already exist for transactions flowing through the approval mechanisms within Purchasing, Commodity, RAC, etc. systems. However, we don't have minimum guidelines for g&a and other expenses. Here's a proposal: Budgeted Unbudgeted Director $50,000 - $1,000,000 Lesser of amount budgeted None, except emergency or $250,000 Vice President $1,000,000 - $2,000,000 Lesser of amount budgeted None, except emergency or $500,000 Managing Director $2,000,000 - $5,000,000 Lesser of amount budgeted None, except emergency or $1,000,000 Executive Vice President $5,000,000 & Above Same as MD CEO (i.e. Stan Horton) All over $1,000,000 All Each business unit CAO to designate approval authorizations below $50,000 Each Individual has the ability to further delegate the authority that has been delegated to them, but must do so in writing and be approved by the responsible supervisor . Just wanted to run this proposal by each of you and get your thoughts. Please respond with your comments so we can incorporate these into the Standards. Thanks. Terrie
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