FINANCIAL STANDING ORDERS
FINANCIAL REGULATIONS
1.
Budgeting & Financial Reporting Procedures
The Manager will be responsible for preparing the annual accounts. A cash-flow
statement and summary of the income and expenditure, comparing actual with
budgeted amounts and showing the variance shall be made available at every
quarter of the executive Trustee meetings.
2.
3.
Payments of Accounts
a)
Payment will only be made if supported by an invoice. The Office
Administrator shall ensure that all invoices have received authorisation by the
Manager before payment.
b)
All details of the accounts, cheque books, cheque stubs, invoices, travel
expense claims and petty cash vouchers will be available in the office for
inspection by the Chair or Treasurer of Central Nott's Mind’s Executive
Trustee member.
Cheque Signatories
Individual Trustee members and Staff members shall be named as cheque
signatories. They must adhere to the following procedures:-
4.
a)
Two members of staff are required to sign all cheques on all current accounts
up to £100.00 and for items covered by the budgets. (Nominated Staff and
Trustee names are in the HSBC file).
b)
For cheques over £200.00 one of the signatories should be a Trustee
member unless it is payment for a domestic bill or known item.
c)
Blank cheques must never be signed.
d)
Signed cheques must never be left overnight in the office.
e)
Cheques in payment received by Central Nott's Mind should be banked by
the next working day. A receipt or stamp must be obtained.
Banking Arrangements
a)
The Manager or Office Administrator shall operate the bank accounts and the
banking arrangements.
b)
On receipt of a cheque or cash donation it must be banked as soon as
possible by
the Manager or Office Administrator.
5.
Petty Cash
a)
The balance for petty cash is to be £150.00. When required a cheque is to be
drawn to the amount of the expenditure to return the balance to £150.00
b)
All petty cash payments are to be made on petty cash vouchers accompanied
by a receipt. If no receipt can be obtained, 2 signatories will be needed on
the petty cash voucher and the Manager made aware of the transaction.
c)
Single payments of petty cash shall not exceed £100.00. Any payments over
the limit should be paid by cheque. This excludes regular expenses eg, train
ticket.
d)
All petty cash transactions must be recorded in the book kept in the petty
cash tin. The money must be counted and the member of Staff dealing with
the transaction must sign the book. If there is a discrepancy the Manager
must be informed as soon as possible.
e)
The Manager will check the petty cash balance and transactions on a weekly
basis.
6.
Salaries
a)
information
month.
7.
The Manager will receive pay slips, salary details and Inland Revenue
from Anderson & Co Accountants at the beginning of every calendar
b)
The Manager and Office Administrator will use the telephone banking system
around the 15th of each calendar month to forward the Staff salaries.
c)
All Staff salaries will be payable by bank transfer on the 15th of each calendar
month.
d)
The Manager will be responsible for agreeing to extra hours and for
completing the variable amendment form.
e)
The Manager or the office Administrator will liaise with the finance company
dealing with the salaries on a regular basis.
f)
The Office Administrator shall ensure that all salaries have been recorded in
the computer accounts.
g)
The Manager and the Office Administrator shall ensure that a cheque is
forwarded to the Inland Revenue every calendar month and the appropriate
paper work completed.
Security
All Staff are responsible for all monies and finances and shall ensure that they are
securely safe at all times.
Updated May 2015