BBBSGC Written Financial Management Practices Management of Agency Deposits and Donations


10 Νοε 2013 (πριν από 4 χρόνια και 6 μήνες)

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BBBSGC Written Financial Management Practices

Management of Agency Deposits and Donations

All checks and cash coming into the agency are directed to the CEO. It is his/her responsibility to:


Complete a deposit slip and have the money deposited into the a
gency account in a timely


Create a spreadsheet listing the donor, the type of donation, the date of the deposit and the
budget category for the deposit


Have thank you/tax exempt letters prepared for donors

Managing Check Writing

The CEO writes all
agency checks. The check writing procedure is:


All agency invoice and requests for payment go to the CEO


On a designated day of the week (generally Tuesday), the CEO reviews all the invoices and
requests for payment


Each invoice is either approved for pay
ment or explored further to assure that the invoice is
legitimately owed by the agency and has not already been paid


Approved invoices are signed off by the CEO with the following information: a) to whom the
check is to be written b) What the expenditure i
s for c) What budget category the expenditure
should be logged to d) The amount that should be paid e) The date the CEO signed the
requisition and the initials of the CEO.


The approved invoices are transported to the BBBS bookkeeper, who enters the invoice
s in the
Quick Books Non
profit software and issues the checks


The checks are then countersigned by an authorized member of the Board of Directors and the


The CEO creates a spreadsheet of the invoices detailing a) Expense b) To whom the check was
en c) date of the check request d) budget category e) amount of check


At the beginning of each month, the CEO sends the agency bookkeeper a copy of the agency
deposit spreadsheet, the invoice spreadsheet and the bank statement so the bookkeeper can
le his/her records and prepare the monthly balance sheet and profit/loss statement for
the Board of Directors meeting.

Authorization of Expenditures

The CEO does authorization of normal operating expenditures. For large or unusual expenses, such as
rizing a marketing or fund development campaign, the CEO or a committee of the board requests
authorization from the Board of Directors.

Authorization of the Agency Credit Card

The CEO is the sole signatory on the agency credit card. Purchases made on th
e card must be
reconciled with the receipts monthly and the same procedures apply as outlined above for the handling
of invoices.

Authorization of Petty Cash

BBBSGC does not have a petty cash fund. Purchases are made with the agency credit card or on a
eimbursement basis.

Policy: Financial Management Practices 9