Worry Free Cash Handling

There are some basic safeguards that cost little to nothing that can be implemented to discourage theft, identify the loss the loss quickly and provide the basis for an investigation.

From a practical standpoint the following guides are essential:

• No one should ever be left alone with cash.  This protects the money and the reputation of the participants.
• When cash is given or received by anyone at the parish, a receipt should be given to the person receiving the money.  When money is turned in, a receipt should be issued.  Receipts should be filed and compared to bank records and deposit slips.
• Ensure that no one person participates in the entire process of receiving, counting, depositing, or recording the receipt of cash.  Ideally, each separate cash handling duty should be performed by someone who does not have access to the financial records.  This is sometimes referred as segregation of duties.
• When cash is advanced to an individual make sure a system is established that will track the advance until it is returned to receipts are turned in.
• When fund raisers are conducted, limit the number of locations where cash is accepted.  Selling numbered tickets at few locations provides a method of minimizing loss.  Also with numbered tickets a method is in place to quickly identify the amount of money collected.
• During fund rising events, have at least two people move cash from the booths to a safe location.  Receipts should be prepared after the curriers and booth operators count the cash.
• Consider conducting training sessions for volunteers handling cash to consistently convey proper procedures.
• Within weeks after the  event an detailed accounting of the revenue and expenses must be provided to the parishoners within two weeks.