invoices be paid unless approved by an authorized signer
blank checks (checks without a date or payee designated) be signed in advance
checks be made out to "cash", "bearer", "petty cash", etc.
checks be prepared on verbal authorization, unless approved by the Executive
In the event that it is necessary to issue a duplicate check for checks in an amount over $15, a stop payment will be ordered at the bank on the original check.
1. Bank statements will be received directly and opened by the
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ( s t a f f p o s i t i o n ) w i l l r e c o n c i l e t h e b a n k s t a t e m e n t m o n t h l y .
The Treasurer of the Board will receive monthly statements of checks paid on all accounts.
The Executive Director shall verify the reconciliation of the bank accounts on at least a quarterly basis.
5. On all checks outstanding over 90 days, the appropriate action.
_____________ (staff position) should take
PURCHASES UNDER $5,000
All purchases over $500 must be approved in advance by the Executive Director.
The Project Director is responsible to know if the item ordered is within the budget and
If purchase is less than $150, persons authorized by the Project Director for immediate purchase and delivery can make the purchase. When this is done, invoice copies are to be turned into the Project Director.
PURCHASES OVER $5,000
1. All purchases including services over $500 must be approved in advance by the Executive Director.