Financial Policy Handbook 2017

8. Check signers shall be disallowed immediately following departure - As soon as an employee or elected official who is authorized to sign checks leaves employment or office, the bank will be contacted by the Finance Director to remove them from the authorized signer list. 9. Lock up undistributed checks - If checks are not distributed, or mailed immediately, then they shall be stored in a locked location. 10. Limit journal entry authority - All journal entries will be entered by a Finance Assistant up to the point of approval and posting. Once the entries have been made, the register will be printed and submitted to the Finance Director for approval. The Finance Director shall have the responsibility of approving and posting the journal entries within the accounting system. 11. Complete the bank reconciliation - At least three times annually, at the discretion of the Finance Director, the bank reconciliation will be completed by the Finance Assistant not responsible for Account Payable. 12. Changing the Chart of Accounts - From time to time it will become necessary to change the Chart of Accounts by either deleting or adding account numbers. To ensure that the integrity of the Chart of Account is maintained and that the adopted structure is retained, the Finance Director shall be responsible for maintaining the Chart of Accounts. 13. Access controlled - To ensure security in the Accounting system and that only those employees needing access to the functions of the program will be allowed in the system. Passwords will be implemented for access to the Accounting System and only those programs/functions that an employee has a need to utilize will access be granted.