Blank checks are not signed. Unissued checks are kept in a secure area. Bank accounts are reconciled monthly. Bank accounts and check signers are authorized by the board of directors or trustees. Petty cash vouchers are written in ink and are required for each fund disbursement.
Petty cash is reimbursed by check and disbursements are reviewed at that time.
The following conditions are indicative of satisfactory controls over payroll. Written authorizations are on file for all employees, covering rates of pay, withholdings, and deductions. The organization has written personnel policies covering job descriptions, hiring procedures, promotions, and dismissals. Adequate timekeeping procedures, including the use of timeclocks or attendance sheets and supervisory review and approval, are employed for controlling paid time. Other key payroll and personnel duties, such as timekeeping, salary authorization, and personnel administration, are adequately separated.