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  • a.

    invoices be paid unless approved by an authorized signer

  • b.

    blank checks (checks without a date or payee designated) be signed in advance

  • c.

    checks be made out to "cash", "bearer", "petty cash", etc.

  • d.

    checks be prepared on verbal authorization, unless approved by the Executive

Director.

  • 6.

    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.

    • C.

      BANK RECONCILIATIONS

1. Bank statements will be received directly and opened by the

_______________ (staff

position).

2. 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 .

  • 3.

    The Treasurer of the Board will receive monthly statements of checks paid on all accounts.

  • 4.

    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

  • IV.

    PURCHASING

    • A.

      PURCHASES UNDER $5,000

      • 1.

        All purchases over $500 must be approved in advance by the Executive Director.

      • 2.

        The Project Director is responsible to know if the item ordered is within the budget and

guidelines.

    • 3.

      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.

  • B.

    PURCHASES OVER $5,000

1. All purchases including services over $500 must be approved in advance by the Executive Director.

4

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