Basic Financial Procedures Policy

1. Receipts (Cash, Checks and Charge Slips)

   1. Cash (Note: we do not accept cash in the office! However, if you absolutely must take cash, here are some procedures for handling it):
      1. Issue a receipt with the following information:
         1) Date
         2) Amount Received
         3) Two signatures:
         4) Received from
         5) Received by
      2. Make an entry in a receipts log which includes the following:
         1) Date
         2) Description (Women’s Motorcycle / T-shirt Purchase / Donation)
         3) Payer
         4) Amount
         5) Receipt # (from the receipt book)
         6) Account Distribution
      3. Keep receipts and receipt log (and the cash, until it is able to be deposited) locked in the petty cash box when not in use.
   2. Checks
      1. Endorse all checks immediately for deposit into our account
      2. When check is for payment of an application:
         1) Make two photocopies of the check
         1) Original check and one photocopy of the check (plus a photocopy of the application) goes to the Accountant for deposit
         2) Second copy of the check gets attached to the back of the original application
      3. When check is for other type of payment:
         1) Make one photocopy of check, attach to original check and give to the Accountant for deposit
   3. Charge receipts
      1. Verify expiration date of card
      2. Complete charge slip with the following information:
         1) Date
         2) Description
         3) Amount, including surcharge
         4) Total amount
         5) Your initials
      3. Call for authorization of amounts over $50.00. Write authorization number on charge slip.
      4. Have payer sign slip
      5. Give payer the customer copy
      6. Keep remaining copies with cash receipts
      7. Make entry into receipts log as with cash receipts

2. Deposits

3. General
   1. Deposits should be made weekly or when cash receipts exceed $100
   2. Verify the receipts log by comparing the totals column to the sum of all account distribution columns
   3. Complete bank deposit slips in duplicate and initial
4. Cash/Checks
   1. Fill out deposit voucher with the following information:
      1) Date
      2) Description
      3) Amount per account distribution
      4) Total amount (total from deposit slip)
   2. Photocopy deposit slip, all checks (this should already have been done), and each application (this should already have been done, too) or other document associated with the deposit and attach copies to voucher
   3. Bring deposit to bank and bring duplicate slip back to the office
   4. Attach duplicate deposit slip to file copy, verifying that the encoded deposit amount matches deposit slip total.
5. Charges
   1. Charge deposits must be made separately from the cash/check deposits, but are done using the same procedures
   2. Complete a charge deposit batch header
   3. Create a deposit voucher as with cash deposits, with the following information:
   1) Date
   2) Description
   3) Amount per account distribution
   4) Total amount (from deposit slips)
   4. A copy of the deposit slip, the merchant copy of the batch header and all merchant copies of charge slips should be attached to the voucher
   5. Deposit itself must include the deposit slip, batch header and bank copies of each charge slip.
   6. Bring deposit to bank, and bring duplicate slip back to the office. Attach duplicate deposit to file copy, verifying the encoded deposit amount matches deposit slip total.

6. Disbursements

   1. Non-payroll
      1. Each invoice/reimbursement/payment, etc., must be prepared with an Expense Voucher containing the following information:
         1) Vendor/Payee name, mailing address and contact phone #.
         2) Description of request
         3) Amount due per account distribution
         4) Requester’s name, title and contact phone # (must be a budget holder)
         5) Date of request
         6) Due Date
      2. The invoice/receipt or other appropriate back-up documentation should be attached to the voucher and submitted for processing to the Accountant at least five working days prior to the due date.
      3. The expense will then be forwarded to the Executive Director and a member of the Executive Committee for approval.
      4. When approved, the voucher may then be entered into the Accounts Payable system. Vouchers should not be entered into the system without appropriate authorizations.
      5. Checks should be written in time to meet the due date.
      6. Each check needs two signatures meeting the following requirements:
         1) One signature must be that of a member of the Executive Committee
         2) The other signature must be that of the Executive Director.
         3) Where a check shall be made payable to the Executive Director, such check shall be signed by two members of the Executive Committee and not the Executive Director.
   2. Payroll
      1. Time sheets for hourly workers, if any, should be submitted to the Executive Director on the 15th and last day of each month.
      2. The Accountant will prepare payroll vouchers for salaried employees and for the hourly employees and submit these to the Executive Director for approval.
      3. Payroll checks will be disbursed on the 15th and last day of each month.