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Guideline - ARTICLE 8

Financial, Banking, and Related Matters

Budget; Financial Statement Cash Handling Procedures Immediate Deposit Procedures
Account Signatories Receipt Procedures Monthly Bank Reconciliations
Transfer of Funds Immediate Accounting to Regional Treasurer Credit/Debit Card Transactions

1. Budget; Financial Statement

The Regional Board shall adopt an annual budget which provides the basis for setting player registration fees. At the end of each season, the Regional Board shall cause to be prepared a statement of income received and amounts expended in connection with the program. Such statement shall be made available for review by the parent or guardian of each player, and a copy shall be made available upon reasonable request. This season's budget and last season's Statement of Income and Expenses are attached hereto as Appendices.

2. Account Signatories

All checks drawn on the Region's bank account shall bear two signatures, one of which must either be the Regional Treasurer's or the Regional Commissioner's. Additional signatories must be authorized by Regional Board action. Two signatories from the same household shall not be allowed. There must be at least three signatories on the Regional bank account.

3. Transfer of Funds

All funds received by the Region, whether from fees, gifts or otherwise, must be deposited into the Region's checking account, from which all expenses and disbursements must be paid. All funds transferred in or out of the Region's savings account must be transferred from or to the Region's checking account. No Regional expenses or reimbursements are to be paid from monies collected which have not first been deposited into, and accounted for within, the Regional bank account.

4. Cash Handling Procedures

The Regional Treasurer in cooperation with other Regional board and staff members shall establish internal control procedures to safeguard against the misuse or loss of Regional assets, especially in regard to cash receipts and cash disbursements. Such internal control procedures shall include the following:

Funds withdrawn for "cash box change" must be deposited back into the Regional bank account on the same day, or the first banking day thereafter.

All registration fees collected in cash and checks must be reconciled to the bank deposit slip and the AYSO registration forms.

Arrangements should be made to have the cash received deposited into the Regional bank account on the same day such cash is received, or the first banking day thereafter.

When handling a significant amount of cash monies, at least two Regional volunteers should be present.

5. Receipt Procedures

The Regional Treasurer in cooperation with other Regional board and staff members shall establish internal control procedures to safeguard against the misuse or loss of Regional assets, especially in regard to receipts for monies received. Such internal control procedures shall include the following:

A cash receipt book must be used to record all payments received on behalf of the Region in cash. The original cash receipt for each transaction must be given to the payer, and the copy kept in the cash receipt book. All cash receipts must be signed or initialed by the volunteer completing the cash receipt form.

The cash receipt book must be reconciled to the bank deposit slip.

A volunteer accepting payment for registration fees should note upon an available portion of the player registration form: (a) the amount of the payment received; (b) whether such payment was made in cash or by check; (c) the check number (if paid by check); (d) the date such payment was received if different from the date of the parent or guardian's signature on the player registration form; (e) the names of any other family member players for whom the payment was received; and (f) the initials of the volunteer receiving such payment.

6. Immediate Accounting to Regional Treasurer

The Regional Treasurer in cooperation with other Regional Board and staff members shall establish internal control procedures to safeguard against the misuse or loss of Regional assets, especially in regard to the immediate accounting to the Regional Treasurer for monies received, checks written upon the Regional bank account, invoices received for accounts payable by the Region, and requests for reimbursement to Regional volunteers for out-of-pocket expenses incurred on behalf of the Region. Such internal control procedures shall include the following:

No one should sign a Regional check in blank or which contains any item to be filled in later.

No one should sign a Regional check without verifying the expense by examining the invoice or request for reimbursement.

No requests for reimbursement to Regional volunteers shall be honored without a written request signed by such volunteer, itemizing the out-of-pocket expenses incurred, and with supporting receipts or other documentation attached.

All bills and invoices received for payment by the Region must be forwarded to the Regional Treasurer for payment, if not already paid, within five (5) days of the receipt.

The Regional Treasurer must be notified of any checks written on the Regional bank account without his or her knowledge within 48 hours of the issuance or delivery of such check for payment of any Regional expense.

All bank withdrawal transactions and Regional checks shall be noted with the appropriate National Accounting Program (NAP) code denoting the purpose for such transaction.

7. Immediate Deposit Procedures

The Regional Treasurer in cooperation with other Regional Board and staff members shall establish internal control procedures to safeguard against the misuse or loss of Regional assets, especially in regard to the immediate deposit of monies received. Such internal control procedures shall include the following:

All fees collected on behalf of the Region for registration, sponsorships, fundraising, donations or for any other purposes shall be deposited immediately after being reconciled with the appropriate cash receipt book, registration form, and/or bank deposit slips.

Under no circumstances may any person accept on behalf of the Region any post-dated check or agree to hold any check for deposit on a later day.

8. Monthly Bank Reconciliations

All Region accounts shall be reconciled by the Regional Treasurer and his/her reconciliation shall be verified by another Board Member who is not authorized to sign on the accounts.

9. Credit/Debit Card Transactions

If credit/debit cards are accepted, all required accounting shall be performed and submitted on the first banking day after each credit/debit card transaction.


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