fw : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
did you know this ? we will look into it .
wes
- - - - - original message - - - - -
from : hodges , georganne
sent : tuesday , september 25 , 2001 10 : 45 am
to : colwell , wes
subject : fw : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
see below
- - - - - original message - - - - -
from : vos , theresa
sent : tuesday , september 25 , 2001 9 : 06 am
to : pierce , jody ; hodges , georganne
subject : re : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
are dash ' s required before any $ $ are spent , or is there a threshhold ? i don ' t think that jacoby gets dash ' s for any of his projects and he has spent over $ 1 mm on 4 of his florida sites .
theresa
- - - - - original message - - - - -
from : pierce , jody
sent : monday , september 24 , 2001 9 : 27 pm
to : hodges , georganne
cc : vos , theresa
subject : re : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
could be related to the amount spent on the ft pierce project that we looked at last week .
procedures look ok . i thought the developers were already responsible for dollars spent on projects .
i guess the point about accounting setting up approved budget limits kind of addresses our responsibility when the spent amounts approach the limit . but theresa & i have had that discussion before . what do we do and who do we notify if we see the total spend approaching or passing the dashed amount . it shows up on the cost summarywe give the developer , but should we bring it to the attention of someone other than the developer ?
based on the discussions thursday pierce , jody
cc :
subject : fw : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
any ideas on what prompted this or comments on the procedures ? ? ?
- - - - - original message - - - - -
from : colwell , wes
sent : mon 9 / 24 / 2001 3 : 25 pm
to : hodges , georganne
cc :
subject : fw : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
we need to put this into action from a tracking point of view . this is a result of an over spent dash . any comment ?
- - - - - original message - - - - -
from : schneider , chip
sent : wednesday , september 19 , 2001 9 : 24 pm
to : kitchen , louise ; colwell , wes ; deffner , joseph
cc : buy , rick ; gorte , david ; carson , rick l .
subject : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
below please find a summary of recommendations from a meeting held tuesday between chip schneider , joe deffner and wes colwell . it is contemplated that these or similar recommendations will be implemented to control capital and other expenditures related to transaction development within the americas :
regional managers within the americas ( east , west , canada , mexico , south america ) shall be generally accountable for capital expenditures and other expenses associated with transaction development in their respective regions .
the regional manager shall designate one transaction leader ( director level or higher ) for each individual transaction under consideration and shall be accountable to the regional manager . the transaction leader or regional manager shall be the only parties authorized to obligate enron or its affiliates under any contract or to transfer money .
legal shall provide copies of all draft documents to accounting , global finance and underwriting .
the deal leader shall be responsible for drafting initial dash , seeking buy - in from management and establishing a time - table for expenditure approval .
the initial draft of the dash and economic model shall be provided to underwriting at least ten business days prior to any movement of money ( more time may be necessary if financing or ene bod approval is required ) .
legal shall provide a final legal risk memorandum to underwriting prior to circulation of dash .
global finance shall provide a final fash to underwriting prior to circulation of dash .
underwriting shall be responsible for dash circulation .
underwriting shall promptly provide accounting with fully executed dash to set approved budget limits .
accounting shall keep records of all expenditures , maintain responsibility for approved budget compliance and sign - off on all contracts and money transfers prior to execution .
let me know what further thoughts you have .
regards ,
chip schneider
713 - 853 - 1789
ecn 2864
fw : update : recommendations from 9 / 18 meeting on transaction
expense controls / delegations of authority
did you know this ? we will look into it .
wes
- - - - - original message - - - - -
from : hodges , georganne
sent : tuesday , september 25 , 2001 10 : 45 am
to : colwell , wes
subject : fw : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
see below
- - - - - original message - - - - -
from : vos , theresa
sent : tuesday , september 25 , 2001 9 : 06 am
to : pierce , jody ; hodges , georganne
subject : re : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
are dash ' s required before any $ $ are spent , or is there a threshhold ? i don ' t think that jacoby gets dash ' s for any of his projects and he has spent over $ 1 mm on 4 of his florida sites .
theresa
- - - - - original message - - - - -
from : pierce , jody
sent : monday , september 24 , 2001 9 : 27 pm
to : hodges , georganne
cc : vos , theresa
subject : re : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
could be related to the amount spent on the ft pierce project that we looked at last week .
procedures look ok . i thought the developers were already responsible for dollars spent on projects .
i guess the point about accounting setting up approved budget limits kind of addresses our responsibility when the spent amounts approach the limit . but theresa & i have had that discussion before . what do we do and who do we notify if we see the total spend approaching or passing the dashed amount . it shows up on the cost summarywe give the developer , but should we bring it to the attention of someone other than the developer ?
based on the discussions thursday pierce , jody
cc :
subject : fw : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
any ideas on what prompted this or comments on the procedures ? ? ?
- - - - - original message - - - - -
from : colwell , wes
sent : mon 9 / 24 / 2001 3 : 25 pm
to : hodges , georganne
cc :
subject : fw : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
we need to put this into action from a tracking point of view . this is a result of an over spent dash . any comment ?
- - - - - original message - - - - -
from : schneider , chip
sent : wednesday , september 19 , 2001 9 : 24 pm
to : kitchen , louise ; colwell , wes ; deffner , joseph
cc : buy , rick ; gorte , david ; carson , rick l .
subject : update : recommendations from 9 / 18 meeting on transaction expense controls / delegations of authority
below please find a summary of recommendations from a meeting held tuesday between chip schneider , joe deffner and wes colwell . it is contemplated that these or similar recommendations will be implemented to control capital and other expenditures related to transaction development within the americas :
regional managers within the americas ( east , west , canada , mexico , south america ) shall be generally accountable for capital expenditures and other expenses associated with transaction development in their respective regions .
the regional manager shall designate one transaction leader ( director level or higher ) for each individual transaction under consideration and shall be accountable to the regional manager . the transaction leader or regional manager shall be the only parties authorized to obligate enron or its affiliates under any contract or to transfer money .
legal shall provide copies of all draft documents to accounting , global finance and underwriting .
the deal leader shall be responsible for drafting initial dash , seeking buy - in from management and establishing a time - table for expenditure approval .
the initial draft of the dash and economic model shall be provided to underwriting at least ten business days prior to any movement of money ( more time may be necessary if financing or ene bod approval is required ) .
legal shall provide a final legal risk memorandum to underwriting prior to circulation of dash .
global finance shall provide a final fash to underwriting prior to circulation of dash .
underwriting shall be responsible for dash circulation .
underwriting shall promptly provide accounting with fully executed dash to set approved budget limits .
accounting shall keep records of all expenditures , maintain responsibility for approved budget compliance and sign - off on all contracts and money transfers prior to execution .
let me know what further thoughts you have .
regards ,
chip schneider
713 - 853 - 1789
ecn 2864