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SAMPLE FINANCIAL PROCEDURES MANUAL

A p p r o v e d b y _ _ _ _ _ _ _ _ _ _ _ ( o r g a n i z a t i o n s ) B o a r d o f D i r e c t o r s o n

____________ (date)

  • I.

    GENERAL

    • 1.

      The Board of Directors formulates financial policies, delegates administration of the financial policies to the Executive Director and reviews operations and activities.

  • 2.

    The Executive Director has management responsibility including financial management.

  • 3.

    Current job descriptions will be maintained for all employees, indicating financial duties

and responsibilities.

  • 4.

    Financial duties and responsibilities must be separated so that no one employee has sole control over cash receipts; disbursements; payroll; reconciliation of bank accounts; etc.

  • 5.

    All employees involved with financial procedures shall take vacations or leaves of 5 consecutive work days each year. During such periods, back-up personnel who have been cross-trained in their duties will perform their tasks.

6. A blanket employee dishonesty coverage in the amount of $ maintained.

_________

shall be

7. Professional financial service providers will be established annually. For (year) _______ ( p a y r o l l s e r v i c e s ) , t h (accounting software) these include , __________ (banking) e (restricted ___________ (insurance) , ____________ , _______________ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ( a u d i t ___________ investments and retirement services), and o r s ) .

8. The ___________ (staff position) will maintain a current and accurate log of the chart of accounts, job accounts and accounting classes.

9. These policies and procedures will be reviewed bi-annually by the Committee)

___________ (Board

II.

CASH RECEIPTS (includes checks)

1. The ____________ (staff position) opens any mail addressed to _____________ (organization name) or without specific addressee. The receipt of checks or cash will be

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