Planting Churches Among the City's Poor - Volume 2

354 • P LANTING C HURCHES AMONG THE C ITY ’ S P OOR : V OLUME 2

Petty Cash Account Procedures World Impact

Purpose Petty cash boxes can be set up at local ministries to provide easy access to cash when immediate and unforseen expenditures arise. Setup 1. Approval is to be obtained from the Controller in the National office. The amount of cash to be kept in a box shall be set by the Controller on a case by case basis, not to exceed $500. 2. Once approval is obtained, the local ministry should acquire a small, lockable cash box in which to keep the cash. 3. A check, from the local ministry’s checking account, should be written for the amount of cash needed, payable to “cash” (see NOTE below). 4. The check should then be cashed at a staff person’s local bank and the cash should be placed in the cash box under the care of the director or the person to whom the director has given responsibility to care for the cash box. Operation 1. When cash is needed, the person in charge of the box should replace the cash removed from the box with an IOU written to the person to whom the cash was given. 2. When the cash has been spent, the receipt(s) from the purchase(s) made should be returned to the keeper of the cash box along with any change. 3. The keeper of the cash box will remove the IOU and replace it with the receipt(s) and any change that may have been returned. The keeper should also make sure that the receipt contains adequate descriptions of the items purchased. If not, descriptions should be written on the receipt. Also, the account number (from the income statements) should also be noted on the receipt for each item purchased. 4. The sum of the cash, receipts and IOU’s should always total to the amount of cash originally placed in the cash box. 5. At some point the receipts will need to be replaced with cash. When that time arrives, the receipts should be removed from the box and attached to a check request. The request should be made out to “cash,” (see NOTE below) for the total of the receipts, using the