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Operating Bank Account document sample
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A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
8 A 2 Sec. II - OTHER CONTROLS - PERIODIC MONITORING
9 A-10 2 BANK / CHURCH OPERATING ACCOUNTS A A
A-11 2 Policies - Maintain written policies and proced's covering bank accounts
and related activities.
- Responsibility for updating the proced's:
- Date the proced's were last updated:
10 - Read and consider compliance while monitoring controls. A A
11 A-12.1 2 H All depart'l expenses flow through one operating bank account. A A
A-12.2 2 H Minimum number of other small $ bank acct's are all recorded in the GL
and subject to reconciliation/review per Section 1.
12 -List any accounts that are not recorded in the GL: A A
A-13 2 F Reconcile all bank checking and savings accounts monthly;
- Prepared, and/or at least reviewed, by an independent person not
involved in the cash receipts/disb. functions.
13 -Explain reconciling items, and investigate checks > 3 mo's old. A A
A-20 2 H Authorization - All cash withdrawals require two signatures and
approval;
14 List authorized individuals: A A
A-21 2 H Transfers of large sums of money into or out of different accounts require
two signatures and approval.
15 - List auth. individuals: A A
A-22 2 H Transfers among bank accounts on GL are properly authorized;
16 - journal entries are reviewed by another person. A A
A-23.1 2 H Board resolution is approved granting individ's specific authority and
limits to conduct transactions on behalf of church and act as a signer in
checking or savings accounts and/or loans.
17 - Provide to bank. A A
A-23.2 2 H Formally restrict transfers to only church bank acct's, or to specified other
acct's such as for payroll, and prohibiting cash withdrawals over $X,
without second approval from a specified church leader.
18 - Establish restrictions in writing with bank.
A-23.3 2 H Consider establishing procedures for the bank to call-back to a specified
phone number and church leader to verify certain types of bank account
19 activity noted above.
A-24 2 Separate bank accounts are maintained for temporary or permanently
20 restricted accounts. A A
A-30 2 H Petty cash fund is used only for minor disbursements of cash which are
not paid by check, and limited to $200.
21 - no other cash is stored at the church A A
A-31 2 Vouchers, and support such as receipts, are prepared for each
22 disbursement from the petty cash fund. A A
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 2 - Procedures / 5/20/2011 Page 1 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
A-32 2 Petty cash fund is periodically replenished, and balanced against the
23 vouchers/receipts. A A
A-33 2 Petty cash fund is reconciled on a surprise basis by an independent person
24 at least once a year. A A
A-40 2 H Physical security precautions
- Physical access and traffic to the business office is restricted;
- Door(s) locked when access is not monitored by an up-front receptionist,
25 and at all times when unattended and after hours. A A
A-41 2 H The business office door lock is keyed separate from other entrance keys.
- Keep a list of who has been given keys, when, and for what activities
26 A A
A-42 2 H Sensitive accounting records are properly stored in a restricted-access,
27 locked cabinet or location. A A
A-43 2 F Checkbook and unused blank checks are physically safeguarded at all
times, and stored in a restricted-access, locked cabinet, preferably under
28 dual control. A A
A-44 2 H Petty cash fund is always stored in a restricted-access, locked
cabinet/drawer, and access is controlled by a single or limited number of
29 custodians (Business Admin.). A A
30 B-10 2 CASH RECEIPTS - HANDLING / PROCESSING
31 B-10.1 2 1. General offerings: A A
B-11 2 Policies - Maintain written policies and procedures covering cash
handling, recording and safeguarding.
- Responsibility for updating the procedures:
- Date the procedures were last updated:
32 - Read and consider compliance while monitoring controls. A A
B-12 2 F Maintain proper segregation of duties over cash receipt tasks (segregating
collection, counting, depositing, general ledger recording and bank
33 reconciliations). A A
B-13 2 F Document who has cash handling authority.
Ensure that the people who count and handle the money are reasonably
34 qualified and of good character. Check references. A A
B-14 2 F Ensure that collections received are promptly recorded and deposited -
35 discussed further below. A A
B-15 2 H Provide training to all personnel on count procedures and proper
safeguarding;
- Ensure proper supervision of all personnel involved during the cash
36 handling process. A A
37 B-16 2 F Fund-raising funds are kept separate. A A
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 2 - Procedures / 5/20/2011 Page 2 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
B-17.1 2 Contributions are recorded in the correct accounting period in the GL, and
membership system, especially at year-end.
- Contributions are not held open in order to manipulate revenues and
38 budgets. A A
B-17.2 2 Describe the policy for holding open the period for recording contributions
39 after month or year-end: A A
40 B-20 2 Collectors/ushers: A A
B-21 2 At least two members of the offering team are in custody of the offering
until it is deposited in the bank, placed in a night depository, or in the
41 church's safe? A A
B-22 2 F All cash/checks are placed in locked-zipper deposit bags, witnessed under
dual control;
- and immediately locked-up (placed in restricted-access, fire-proof safe)
42 until brought to bank and/or formally counted. A A
B-23 2 Deposit bags are removed from the safe under dual control and logged;
- Brought to bank by two people in disguised carrying case;
- Deposited in bank night drop promptly after the last service (for security
and counting next day at bank, if possible).
43 A A
B-24 2 Contributions dropped-off or mailed-in, and Sunday school offerings, etc
must also be placed in the safe.
44 - List all of the sources of contribution cash receipts: A A
B-25. 2 H Contributions received electronically are promptly recorded (if vendor
manages the receipts and submits to church); and reconciled to a report of
total and individual contributions received from the vendor. Segregate
45 duties. A A
46 B-30 2 Counters: A A
B-31 2 F At least two people maintain control over all offering cash and checks at
all times, including preparing the cash for counting, up until the cash is
47 formally deposited. A A
48 B-32 2 F Cash is counted in a secured area with restricted access. A A
B-33.1 2 Rotate the ushers'/counters' duties so the same people are not handling the
funds each week.
- Maintain schedule of monthly rotations by group, w/ supervisor;
- The persons counting the money should not include a pastor or the
49 church treasurer. A A
B-33.2 2 F Discourage the use of relatives to count and record collections to help
ensure proper segregation of duties.
50 - Prohibit relatives counting if they are the only counters present. A A
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 2 - Procedures / 5/20/2011 Page 3 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
B-34.1 2 Ensure the contents of the offering envelopes are identical to the amounts
written on the envelopes by the members.
- Adjust the envelopes for differences; dual verify and initial material
51 diff's, and consider informing member. A A
B-34.2 2 F Immediately place restrictive "For Deposit Only" endorsement on all
checks (including offerings, mail-ins and other sources), to prevent
52 diverting checks. A A
B-35 2 F Use the standardized count form to document all cash handling;
- Separately document the funds received by cash and checks (prepare a
tape list of all checks);
- Prepare separate deposit amounts for restricted and unrestricted account
53 receipts. A A
B-36.1 2 Count sheet totals are verified and signed-off by at least two people;
- Deposit tickets are prepared and verified and signed-off by the same two
people;
54 - Reconcile the check log against the deposit tickets. A A
B-36.2 2 Duplicate deposit slips are prepared; one accompanies the deposit, the
other is delivered to the individual reconciling the bank accounts and
55 deposits. A A
B-36.3 2 Separate checks/envelopes and other lists of restricted fund contributions
are prepared to facilitate recording in membership system;
- Compare restricted contribution totals to the count sheet and separate
deposit tickets if applicable.
56 A A
B-37.1 2 Other contribution receipts - Incoming-mail and in-office contrib's are
handled by people who are not responsible for the accounting records;
- Preferably in the presence of two authorized persons who create and sign
a dated list of the funds received.
57 A A
B-37.2 2 Reconcile this list of funds received by mail or in-office to the bank
58 deposit by someone not handling the money. A A
B-38 2 Sunday school offerings are properly recorded and delivered to the money
59 counters. A A
60 B-40 2 Depositing of funds: A A
B-41 2 H All cash is deposited intact (without any “temporary” withdrawals) in a
bank account immediately after counting.
- If offerings are counted at the church, the deposit is brought to the bank
61 by two people in a disguised carrying case. A A
62 B-50 2 Non-contribution cash and other receipts: A A
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 2 - Procedures / 5/20/2011 Page 4 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
B-51 2 Non-contribution program revenues (e.g. church meetings, rental income,
food sales, etc.) are promptly placed in safe along with a deposit ticket and
explanation for where to record prior.
63 - List all other sources of non-contribution cash receipts: A A
B-52 2 The handling of other receipts of cash must always be controlled by at
64 least two people. A A
B-53 2 Non-contribution revenues are processed with other offerings per above,
and are listed on the count sheets with project codes as part of the overall
65 deposit processing. A A
B-54 2 H Tickets are sold rather than receiving cash for larger public events, such as
festivals;
- Limit individuals selling tickets; reconcile cash received to ticket totals;
66 immediately deposit funds. A A
B-55 2 H School tuition and registration amounts should be paid by check, made
payable to the church/school, not cash.
- Record tuition amounts in subsystem and compare to budgeted revenue
67 amounts; reconcile outstanding balance in deferred tuition. A A
B-56 2 Are there written control policies over misc. event deposits such as
68 women's events, men's retreats, etc. A A
69 B-60 2 Donation records - restricted contributions A A
B-61 2
Restricted contributions are identified on the count sheet or other form at
the time of counting, including GL account coding for net asset or liability
70 acct's (use "cheat sheet" of restricted GL acct codes). A A
B-62 2 Enter cash contributions from count sheet / collection report into
membership system; include a memo descriptor.
71 - or scan envelopes. A A
B-63 2 Prepare weekly membership report of total contribution deposits.
72 Maintain with count sheets. A A
B-64.1 2 x Members are encouraged to use offering envelopes with blocks to indicate
donor restrictions.
- envelopes with pre-assigned account numbers,
73 - generic blank envelopes available in the pews. A A
B-64.2 2 x Members are encouraged to use checks in making their offerings (and
74 other gifts as well). A A
2 All "special" offerings collected for outside organizations, speakers, etc.
75 B-65 are remitted directly to that organization and not the individual. A A
76 B-70 2 Restricted contributions - donor compliance and receipting A A
B-71.1 2 F Periodic contribution statements are mailed to members. See also separate
77 IRS/taxes section. A A
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 2 - Procedures / 5/20/2011 Page 5 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
B-71.2 2 Members are instructed to report any irregularities or errors in their
contribution stmt's to the audit committee, not the business administrator
78 or those involved in recording contributions. A A
B-72 2 Activity and balances in restricted funds/accounts is reviewed monthly to
79 help ensure compliance with donor restrictions. A A
B-73 2 Restricted funds are held for the intended purpose(s) and not spent on
operating needs.
- Separate bank accounts are maintained for restricted accounts if possible.
80 A A
B-74 2 Identify any carryover restricted fund balances, focusing on whether
81 negative carryover balances should be funded/expensed. A A
82 J-10 2 CASH DISBURSEMENTS AND CURRENT LIAB. A A
J-11 2 Policies - Maintain written policies and procedures covering expense
authorization and cash disbursement activities.
- Responsibility for updating the procedures:
83 - Date the procedures were last updated: A A
J-12 2 Seg. of duties is maintained over cash disbursement tasks:
- expense authorization,
- Invoice and check processing/preparation,
- check signing, mailing and
84 - bank reconciliation functions. A A
J-20 2 H Expense authorization
All departmental expenses are paid out of one primary bank account,
85 managed by the Business Admin. and Board. A A
J-21.1 2 H All non-routine expenses (not having a standing authorization) are paid
based on a standard authorization form approved by the Ministry staff, and
supported by invoices/other documentation.
86 - Persons authorized to approve expenses are clearly identified. A A
J-21.2 2 H List types of payments not requiring an authorization form, and methods
87 for approving/determining reasonableness of expense: A A
J-22 2 F Credit card policy sets acct limits for credit cards and users, for business
use only;
- Payment of credit card stmt's is supported by receipts and authorized by
department heads and/or church leader.
88 Describe method for approval: A A
J-23 2 H Obtain second approval by the Bus. Admin. for all check requests in the
89 specified dedicated / restricted accounts: A A
J-24 2 H Purchases > $___ pre-approved by Bus. Admin (Treasurer);
Purchases > $___ pre-approved by the Board.
90 - List types of exp's requiring pre-approval before ordering: A A
J-25 2 F Competitive bids are required for major purchases and contracts
91 exceeding $. A A
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 2 - Procedures / 5/20/2011 Page 6 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
J-30 2 H Invoice processing - Bookkeeper reviews authorization form for
92 completeness, approvals and account coding / restricted accounts. A A
J-31 2 H Invoice is checked for accuracy before setting up for payment;
93 - compared to original purchase order or bid, if applicable. A A
J-32 2 Unpaid invoices are promptly placed in an unpaid invoice file to establish
control for payment;
- and entered into the accounts payable system,
- or entered into a schedule of unpaid invoices including vendor name,
94 invoice date, and due date, if material. A A
J-33 2 Periodic statements from vendors are reviewed, and compared against the
95 unpaid invoice file to avoid double payments. A A
J-40 2 Check processing and preparation - Bookkeeper periodically prepares
checks based on accounts payable system or unpaid invoice file, and
96 authorization forms/invoices. A A
J-41 2 Ensure that the next available check number in the system matches next
97 available physical check. A A
J-42 2 Print the check register and submit to the Bus. Admin along with the
98 checks for approval and signature. A A
J-43 2
Record payments in the accounts payable register, and/or supporting
invoices/doc's are marked paid when checks are issued to prevent
subsequent use or double payment.
99 - invoices and authorization forms are promptly filed according to vendor. A A
J-44 2 Enter manual expense and petty cash payments based upon authorization
100 or on-going requirement (church mtg's, etc.) A A
J-45 2
The accounts payable register is periodically reconciled with the general
101 ledger by a person independent of the invoice processing function. A A
J-46 2 All cash disbursements, except for minor petty cash items, are paid using
102 pre-numbered checks. A A
J-47 2 F Checks are always made out to a vendor, org. or specific individ, and
agree to the vendor name on the underlying invoice.
103 - Prohibit checks payable to "cash" A A
J-48 2 All voided and spoiled checks are marked and retained for future
reference and integrity of numerical sequencing.
104 - Returned checks are re-processed accordingly. A A
J-50.1 2 H Check approval and signing
Bus. Admin. (Treasurer) reviews check, authorization form and support
for approvals and overall reasonableness of request, and account coding /
105 restricted accounts; A A
J-50.2 2 F - Sign checks only when ALL required info is entered and supporting doc's
106 are attached. A A
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 2 - Procedures / 5/20/2011 Page 7 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
J-51.1 2 F - Two signatures are required on non-routine checks > $_____.
-Both signers review and approve reasonableness of supporting
107 documentation for the disbursement before signing the check. A A
108 J-51.2 2 List routine expenses that do not require a second signature: A A
J-52.1 2 H Check register of all checks prepared is reviewed and approved by Bus.
109 Admin and is balanced for completeness with signed checks. A A
J-52.2 2 Print SS warning reports of funds out-of-balance (checks being processed)
110 and forward to Bus. Admin (Treasurer). A A
J-53 2 Persons authorized to sign checks are prohibited from making accounting
entries.
111 - List authorized signers: A A
J-54 2
112 Signed checks are mailed promptly by an individual other than a signer. A A
J-55 2 F Blank checks are not pre-signed in advance.
- may periodically complete the vendor name and date, but leave the
113 amount blank for smaller purchases. A A
J-60 2 H Employee expense reimbursements - are made per an "accountable
reimbursement plan" requiring substantiation on a standard request form,
approved by department head, within 60 days of incurring the expense.
114 A A
J-61.1 2 Substantiation includes original receipts, documentation of the date, place,
115 amount, and purpose of expenditure. A A
J-61.2 2 F Prohibit personal purchases using church funds:
- closely examine expense reports, credit card charges and telephone bills
116 to ensure used for official church business only. A A
J-62 2 Discretionary expense accounts are prohibited, or restricted to a limited
amount for selected key leaders (such as senior pastor).
117 - List all discretionary accounts and amounts/limits: A A
J-70 2 Benevolence funds - are subject to oversight and approval of activities by
an authorized committee, incl. reconciling and 2nd review of the bank
account.
- List all benevolence accounts and amounts/limits:
118 - Are benevolence accounts included in the GL? A A
119
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 2 - Procedures / 5/20/2011 Page 8 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 12-3-08 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
8 A 1 Sec. I - CONTROLS REQUIRING ON-GOING MONITORING
9 A 1 BANK / CHURCH OPERATING ACCOUNTS
A-01 H Reconcile all bank acct's from the GL to the bank stmt's.
10 1 - Separately list all accounts in the rows below: Bkkper M Treasurer/ BA M
11 A-01.1 1 H -Reconcile Checking-Church acct. to GL #XXXX. Bkkper M Treasurer/ BA M Update the various accounts
12 A-01.2 1 H -Reconcile Checking-School acct. to GL #XXXX. Bkkper M Treasurer/ BA M
13 A-01.3 1 H -Reconcile (list other) acct. to GL #XXXX. Bkkper M Treasurer/ BA M
14 A-01.9 1 -Reconcile benevolence bank account to GL #XXX. Ben Comm M Treasurer/ BA M
A-02 H Agree savings and other investments to the general ledger, record earnings
(dividends/ interest income) and trace transfers.
15 1 - List all accounts below: Bkkper M Treasurer/ BA M
16 A-02.1 1 H -Reconcile savings acct. to GL#XXXX. Bkkper M Treasurer/ BA M
A-03 F Bank checking/savings acct stmt's are reviewed (or viewed on-line) by 2nd
person not involved in check writing;
- Scan cancelled checks for reasonable. of payee and amounts, and Consider that GL descriptions may not be
17 1 existence of dual signatures for >$X, withdrawals / transfers. Treasurer M Audit Comm M accurate, especially if hiding fraud
A-04 H Prepare combined report listing all bank/cash accounts and balances, no
matter who or what dep't they are controlled or reconciled by; review for
18 1 reasonableness. Bus Admin M Treasurer M
A-05 Compare balances in restricted checking and savings acct's to
19 1 corresponding net asset balances. Bus Admin M Treasurer M
20 A-06 1 Reconcile Petty Cash to receipts on a surprise basis GL #XXX. Bkkper SA Bus Admin SA
A-07 Periodically verify numerical integrity and physical security of the blank
21 1 check stock. Bkkper SA Bus Admin SA
A-08 H Periodically verify authorized signers on all bank accounts;
- update Board resolution granting individ's specific authority and limits to
act as a signer in checking or savings accounts and/or loans. Provide to
22 1 bank. Bus Admin SA Treasurer SA
23 B 1 CASH RECEIPTS / CONTRIBUTIONS
B-01.1 1 F Reconcile cash receipts daily (or next day after deposit) from the count
sheets or other receipt logs, to recording in the bank stmt's and deposit
tickets (on-line, or at month-end with bank stmt);
24 - By someone not involved in counting. Bkkper D Bus Admin W
B-01.2 1 H Reconcile total deposits from membership report totals to:
25 1) bank statements / deposit tickets, and 2) GL. Bkkper W Bus Admin Q
B-01.3 1 H Reconcile contributions received electronically to the total and individual
contributions received from the vendor, if applicable, or bank statement.
26 Bkkper W Bus Admin Q
B-02 1 H Reconcile total contrib. revenues by type from membership totals reports
27 to GL revenue acct's. Fin Sec'y Q Bus Admin Q
B-03 1 H Monitor temporary and permanently restricted cash balances and agree to
28 the amount of restricted net assets. Fin Sec'y M Bus Admin M
be7d3569-80f0-495c-8a5f-feaa83cf5425.xls / FCC SEC 1 - Controls / 5/20/2011 Page 9 of 10
A B C D E F G H I J K L M N
1 Church Name LeiningerCPA, Ltd. / www.Leiningercpa.com 1st Q 3rd Q
2 Financial Control Chart 4/21 10/21 Due Date
3
4 12-3-08 Step 1. Ongoing Risk Identification and Assessment Step 2. Define Control Responsibilities Step 3. Monitoring and Reporting
5 Description of Internal Control Procedures: Individual Responsible and Frequency for: Self-Assessment: Monitoring Comments:
Monitoring
Ref. to Describe Status of Controls / Unresolved Items,
Control Ref. Describe existing procedures, limits, systems and controls; Track / Document Proc. - Describe Plan for Resolution of Exceptions
Risk
6 # incl. description of GL account, report and/or file name "Performer" Freq. "Reviewer" Freq. Performance Descript. List Target Date / Last Performed, if applicable.
7
B-04 1 H Monitor on-going compliance (money spent) with donor restricted
contributions.
- Monitor restricted acct balances, including whether negative carryover
balances are reasonable and/or should be funded or expensed.
29 Bus Admin Q Treasurer Q
30 B-05 1 F Periodic contribution statements are mailed to members. Fin Sec'y Q Bus Admin Q
B-06 1 Periodically inquire if all contributions are recorded in the correct
accounting period in the GL, and membership system, especially at year-
end.
31 - If not, discuss the circumstances. Treasurer Q Bus Admin Q
32 J 1 CASH DISBURSEMENTS AND CURRENT LIAB.
J-01 H Review cash disbursement listing or other report listing all expenses paid
33 1 during the month for overall reasonableness and authorization. Bus Admin M Treasurer M
J-02 Reconcile accounts payable system report totals with GL.
34 1 - Ensure accounts payable are complete, especially at year-end. Bkkper M Bus Admin M
J-03 H Balance accrued payroll / other withholding accounts with amounts
35 1 actually paid - GL #xxxx, xxxx. Bus Admin Q Treasurer Q
J-04 Reconcile deferred school tuition.
- Determine reasonableness of tuition and registration revenue amounts
36 1 compared to budget. Bkkper M Bus Admin Q
J-05.1 H Periodically inquire whether there are any unpaid invoices that are past
due, or any disputed amounts with vendors.
37 1 - If yes, determine the circumstances. Bus Admin Q Treasurer Q
J-05.2 H Periodically review / inquire whether all payroll and related taxes, and
sales taxes, have been paid current.
38 1 - Monitor payment of withholding taxes by payroll vendor. Bus Admin Q Treasurer Q
J-05.3 Periodically inquire if all expenses are recorded in the correct accounting
period in the GL, especially at year-end.
39 1 - If not, discuss the circumstances. Bus Admin A Treasurer A
40
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