1 2 2 2 HR PPH] 2 IS PPH] 3 3 3 3 4 & 4 (ECFA) 4 4 4 5 5 • 5 • 5 • 5 • 5 5 & 5 5 5 5 5 5 6 6 Timeliness 6 Required Reports 6 Functional Allocation 6 Distribution 6 6 Payroll Tax 6 Unrelated Business Income Tax (UBI) 7 Property Tax 7 Sales/Use Tax 7 7 Ministries Under $500,000 7 Ministries Between $500,000 & $1,500,000 7 Ministries Between $1,500,00 & $3,000,000 7 Ministries Over $3,000,000 8 8 8 Petty Cash Balance 8 Procedures 8 Disbursements 8 Replenishment 8 8 8 & 8 9 Establishing New Checking Accounts 9 Checking Account Signatories 9 Designation of Authorized Check Signatures 9 Check Signer Responsibilities 9 9 10 10 10 10 10 10 11 & 11 11 & 11 11 & 12 & 8282/ 8283 12 13 & 13 13 13 13 & 13 13 13 13 14 14 14 15 15 15 & 15 15 Property & Facility Use Fees 15 Events (Weddings, Funerals, etc) 15 16 16 Check-Processing Schedule 16 Vendor Form W9’s 16 Vendor-Specified Terms 16 Required Documentation 16 16 Ministerial Compensation Issues 16 Pay Periods 17 IS A
Timesheets 17 Reporting 18 Employee Payroll Advances 18 Employee Loans 18 Accrued Vacation 18 18 18 Accountable Reimbursement Plan 18 Automobile Usage 19 20 20 20 20 20 20 20 21 21 21 21 21 21 21 21 Board Reporting of Collection Status 22 Late Fees 22 Delinquent Accounts 22 22 --- 23 42
Sales/Use Tax Sales and use taxes should be paid in accordance with appropriate state and local regulations in a timely fashion. Cash Management Petty Cash The purpose of petty cash is to satisfy those situations where there is an immediate need for cash due to timing or vendor policies. Our Ministry’s preferred method of payment is always following our disbursements policies. Petty cash may not be used for loans to team members or for personal use. Petty Cash Balance Only one Our Ministry petty cash fund of $250 is authorized. [Note: This amount should be set to the approximate amount needed in any given month.] Procedures The Chief Financial Officer will identify an individual to be the custodian responsible for the petty cash fund. This custodian must submit Petty Cash Log & Reconciliation forms (see page 24) to the Chief Financial Officer at least monthly. Disbursements All disbursements must include a receipt or signed cash-advance voucher. These must document the recipient of the petty cash funds (individual and/ or organization), the amount and date of the transaction, the Our Ministry purpose for which the funds were spent, and the recipient’s signature. Replenishment The petty cash fund will be replenished during the month-end reconciliation. The fund can be replenished more often if needed, and each replenishment must include a Petty Cash Log & Reconciliation form. Check Cashing Our Ministry is not to serve as a check-cashing resource for any staff, volunteers, members of Our Ministry’s constituency, or others. Ministry-Provided Charge Cards In certain cases Our Ministry may provide a team member with an Our Ministry charge card, the team member must provide receipts for each expenditure with a written purpose of the expenditure on the receipt. Expenditures must have the prior approval of the team member’s supervisor. Receipts must be turned in to the Chief Financial Officer or his designee within one week of the expenditure unless other arrangements have been made in advance. Personal charges are prohibited on any Our Ministry charge accounts. Any or unauthorized expenses will be the team member’s personal responsibility.