This series may also be helpful for smaller and larger local governments. In this series we draw upon a Government Finance Officers Association publication written by Gregory S. Allison called Accounting Issues and Practices, a Guide for Smaller Governments. We are grateful to the author and the GFOA for their allowing us use it as a guide. Cash is probably the most sensitive of assets. Unlike buildings, accounts receivable or even long-term investments, cash can walk away, usually without a trace.
Cash is, of course, central to any business and government.
Without it even the smallest entity will not work. Proper management of cash requires solid internal controls and strict adherence to law. We believe that compliance in these areas would help significantly in safeguarding cash. Good internal controls - We discussed controls in our last Newsletter . All cash and checks should be deposited, and all disbursements should be made by check.