Sample Financial Procedures Manual Template Page 4
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13a.
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 ________________ (staff position) will reconcile the bank statement monthly.
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 _____________ (staff position) should take
appropriate action.
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.
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