Financial Policy Handbook 2017

SECTION 2 - PROCEDURES 1. Deposits

a. The cash registers/cash boxes must be reconciled and balanced and the funds must be deposited in their entirety at the designated institution, pursuant to the schedule outlined in Section 2, subsection 2 of this policy. b. The daily deposit must be brought to the Finance Department for recording and depositing or should be deposited at the appropriate institution with the proper paperwork being forwarded to the Finance Department, whichever arrangements have been established. All night deposits should be done by two people for safety. c. Reconciliation forms, daily cash register tapes, and other deposit or reconciliation documentation should be forwarded to the Finance Department daily or as arranged. d. Daily, monthly and annual records must be kept regarding the department's financial activity such as receipt copies, deposit ticket duplicates, register tapes, or other documentation as necessary. Receipt numbers must be sequential and accounted for. e. The Finance Department shall post the daily receipts to the accounting system unless other arrangements have been made. Daily deposit shall be completed no later than 3:00 pm daily to ensure that the batch can be closed and finance charges can be applied in the Accounts Receivable system in a timely manner. 2. Deposit Schedule a. Deposits shall be reconciled and deposited daily for all departments with the following exceptions: i. Police Department - Deposits shall be made not less frequently than bi-weekly. ii. Library - Deposits shall be made not less frequently than bi-weekly. iii. Northern Plains Regional Landfill - Deposits shall be made not less frequently than weekly. iv. Campground - Deposits shall be made not less frequently than weekly.

b. Deposits shall be delivered to City Hall by 9:00 AM, except for the Aquatic Center and Golf Course.

c. Deposits for the Golf Course and Aquatic Center shall be deposited at the City’s Financial Institution at the end of each day of business. The deposit bag should include a completed bank deposit slip. Each department will be responsible for delivery to City Hall a deposit reconciliation form, detailing the budget line items to receipt the deposit to. The Bank shall deliver the City’s copy of the bank deposit slip to City Hall for deposit reconciliation.