2. FINANCIAL BOOKS

The Association shall approve the use of financial books to assist in the day–to–day operations of the Association. Such books must be used responsibly by staff and should not replace proper financial planning and procedures.

2.1 Provision of Financial Books.

The Association shall operate one financial book sealed and signed by the Executive Director. The maximum cash amount to be applied to the financial book shall be determined by the Executive Director or Executive Committee. Any expenditure shall be recorded in the financial book; the financial shall be kept to the Treasurer General Office and be available for inspection from Staff member at any time.

2.2 Management of the Financial Books.

Staff must exercise all care in the use and storage of the financial books. The financial books must be kept in a secure place in the office of the Treasurer General. The recording of the use of the financial books will be through the use of petty cash vouchers. Staff members using the financial book must, at the time of each transaction;

(a) Complete a petty cash voucher;

(b) Attach the receipt to the voucher;

(c) Sign and date the voucher.

All uses of the petty cash will be recorded in the petty cash register. Staff members accessing the financial book must at the time of each transaction:

(a) Complete a petty cash voucher;

(b) Attach a receipt to the voucher;

(c) Record the transaction in the register;

(d) Balance the cash in the tin with the balance in the register; and

(e) Sign and date the register.

The Treasurer shall be responsible for:

(a) Monitoring the use of the financial book;

(b) Ensuring that the financial book is balanced at least weekly;

(c) Resolving any discrepancies or errors uncovered through book balances.

Staff with access to the financial books will be responsible for replacing any money that is unable to be unaccounted for, other than losses resulting from break–and–enter theft. Staff wishing to use the financial book for purchases must seek approval from the  Executive Director in writing prior to the expenditure.