BP 11122023 129pm - Flipbook - Page 17
SECTION 5: CASH RECEIPTS
GENERAL SAFEGUARDING OF CASH & CASH EQUIVALENTS
Dual Control: Two persons (dual control) should always control cash and cash equivalents from
the collection point to the bank deposit.
Segregation of Duties: To achieve proper segregation of duties, the accountant and other record
keepers should not receive, handle, or have access to money. A dedicated cashier without
conflicting duties should be assigned to receive money and provide receipts. The cashier and
record keeper should be separate individuals.
Receipt of Money: Receipt of money should be properly documented in ink and acknowledged
via pre-numbered consecutive receipt tickets, statement and/or letter. See Offertory Receipts and
Miscellaneous Cash Receipts for details.
Bag Log: Prior to the weekend, an appointed person should note bag numbers for weekend
Masses on a bag log. The bag log should also be used to log tamper resistant bags from
miscellaneous receipts, to ensure all funds placed in the safe are accounted when retrieved by the
weekly counters.
Tamper-Resistant Bags: Tamper-resistant and tamper-evident envelopes or bags should be used
for all collections and internal remittances, with or without prepared deposit slips. Money should
not be dropped in the safe without first being placed in a sealed tamper-evident bag and recorded
in the bag log. Tamper-evident envelopes/bags should be numbered and controlled by someone
not handling money or having edit access to the accounting system. Unsecured paper envelopes
and plastic, canvas, zippered or key-locked bank bags should not be used.
Safe: Every parish, mission, campus center, and school should own a drop safe that is securely
attached to the building in an inconspicuous but accessible location. Money collected from all
sources should be placed in the drop safe.
Safe Access: Access to open the drop safe should be limited to the pastor, parochial vicar,
administrator or principal, and only key individuals who have had a background and credit
check. Efforts should be made to restrict sole access to the safe by those other than pastor,
parochial vicar, administrator, or principal. Individuals who have safe access should not have
cash handling responsibilities or access to the general ledger. The safe combination or lock
should be changed periodically.
Safe Log: Two persons should be present whenever the drop safe is opened. A log should be
kept at the safe and both individuals should sign and date the log when the safe is opened. If two
keys are required to open the safe, two persons should control the keys.
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