CASH DISBURSEMENTS POLICY

Control Objective: To ensure that cash is disbursed only upon proper
authorization of management, for valid business purposes, and that all
disbursements are properly recorded.

Policies

* The Executive Director has (a) expenditure approval up to the parameters set
by the annual operating budget, approved by a Board, and (b) single signature
authority up to and including $500 with the exception of the Executive Director's
personal expense reimbursement items which must be approved by a Board member
having check signing authorization. The deliberate splitting of vouchers or
invoices which have the sole purpose or effect of meeting the parameters of
this authority is expressly prohibited.

* Expenditure requests/Purchase Orders will be initiated in writing and approved
within specified authority by the Executive Director and Program Directors.

* Credit Union checking records will be reviewed by Executive Director and
Treasurer Quarterly. When we have a funded administrative position they will
be reviewed monthly and a move toward greater separation of duties using board
volunteer or new staff will be explored.

* The check numbers are of all payments are written on supporting documentation
like store receipts, invoices etc. Program Director/Executive Director approves
check requests after comparing to supporting documentation. The bookkeeper
prints the pre-numbered checks only with approved requests. The unsigned
check, support and request are presented to authorized check signers for
their signatures (information on checks is compared to supporting documentation
for accuracy).

* Two signatures are required on all organizational checks over $500. The
Executive Director's personal expense reimbursement checks must not exceed
$150 per check and limited to $150 per month. Any expense reimbursements
exceeding these limits require the Treasurer's approval.

* All disbursements, except petty cash, are made by check and are accompanied
by substantiating documentation.

* All checks are pre-numbered and accounted for monthly.

* All voided checks must be defaced and retained with the cancelled checks.

* No checks may be written to "cash" or "bearer".

* Blank checks are stored in a locked drawer.

* The Executive Director or an employee will file all unpaid invoices in a
folder marked "UnPaid Invoices. All invoices as they are paid will be moved
to a folder marked "Paid Invoices." These will be kept with the UM-CAC financial
files. Bookkeeper is responsible for invoices and check requests being marked
"PAID" once they have been paid to guard against reuse.

* The Executive Director, and the President or Treasurer of the Board are the
two signatures which are required on all checks over approved limits.

* Blank checks may never be signed in advance.

Manual Contents Page

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