Samples
Review the following sample financial policies and procedures then consider adapting them to meet the needs and purposes of your agency!
The Executive Director (or a designate) will prepare the bank reconciliation each month.This will be forwarded to the Treasurer for review.
The Treasurer may recommend depositing surplus funds in a guaranteed term deposit. Deposits will not exceed $60,000 in any one financial institution or in any one account.
All financial transactions will be recorded and summarized in one of the following journals: Cash (and/or Cheque) Receipts, Cash Disbursements, Payroll, General Ledger. These accounting records will be updated each month by the bookkeeper.
An amount of $ 
will be kept in the office as
petty cash.This will be kept in a locked drawer. All
transactions will be recorded on petty cash slips.The
bookkeeper will review and record all transactions on a
monthly basis. Under no circumstances will petty cash be
borrowed for personal use.
Salaries/wages will be paid by cheque every two weeks upon receipt of a time sheet or invoice signed by the employee’s immediate supervisor.The bookkeeper will the prepare cheques.
The Executive Director (or a designate) will prepare the cheques for review and get the signatures of two signing officers. Invoices or other appropriate documents will be required for payment.
All deductions to wages will be made in accordance with statutory regulations and this agency’s personnel policies. The Executive Director, or a staff designate, will make these calculations and record them in the payroll journal.