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MANAGEMENT
POLICY
PHILADELPHIA IIA
CHAPTER
Page 1
TABLE OF CONTENTS
SECTION
PAGE
I. PURPOSE
II. BACKGROUND
2-4
Effective: 11/20/2012
Revised: N/A
CASH
MANAGEMENT
POLICY
I.
PHILADELPHIA IIA
CHAPTER
Page 2
PURPOSE
The purpose of the Cash Management Policy is to provide written guidelines
regarding the management of the Chapters assets and deposit accounts. The
policy is also established to ensure appropriate asset levels are maintained and
assets remain accessible and retain liquidity to be used for Chapter expenses
and initiatives.
II.
BACKGROUND
The Chapters sole asset consists of cash. Effective cash management is
needed to maintain an adequate asset levels to support the Chapter needs and
Board approved initiatives.
III.
Effective: 11/20/2012
Revised: N/A
CASH
MANAGEMENT
POLICY
PHILADELPHIA IIA
CHAPTER
Page 3
d. Certificates of Deposit
e. Paypal
2) Chapter assets may not be placed in any account or product not expressly
stated above.
Asset Uses
1) Chapter assets may be used to:
a. Purchase property and equipment for Chapter use (i.e.
technology equipment and software, cameras, banners, signs,
etc.)
b. Support Board approved initiatives and expenses
c. Support Committee budgets within authorized limits
d. Support Chapter events
e. Support the administrative needs of the Chapter
2) Chapter assets may not be used to:
a. Purchase investment securities and investment related
vehicles such as derivatives
b. Purchase real property (real estate)
c. Purchase automobiles
d. To collateralize a debt obligation
e. Purchase property for personal use
f. Loan Chapter funds for any reason
Deposit Account Balances
1) The Treasurer will ensure balances maintained in the Chapters deposit
accounts are appropriate. Consideration shall be given to forecasts of
Chapter expenses, interest rates of deposit accounts, and the incurrence of
banking fees related to maintaining balance levels.
2) The transfer of assets between deposit accounts to will be performed at the
discretion of the Treasurer.
Deposit Accounts Access and Authorizations
1) The Treasurer and one Vice President will be the only authorized signers on the
Chapters accounts.
2) The Treasurer and Assistant Treasurer will be authorized to make deposits on
behalf of the Chapter.
3) The Treasurer will be the only individuals authorized to initiate withdrawals or
transfers to and from the Chapters accounts.
4) One Vice President will be only authorized to conduct transactions in the absence
or unavailability of the Treasurer and Assistant Treasurer.
5) The Finance Committee will approve the addition or removal of an authorized
signer and this will be documented in Finance Committee minutes.
6) The Finance Committee will approve the opening or closing of a deposit account
and this will be documented in the Finance Committee minutes.
7) The President, the Board, and other Chapter Officers will not be authorized to
conduct financial transactions within the Chapters deposit accounts.
Effective: 11/20/2012
Revised: N/A
CASH
MANAGEMENT
POLICY
PHILADELPHIA IIA
CHAPTER
Page 4
Receipt of Deposits
1) Checks made out to the Chapter will be required to be sent to the
Treasurers P.O. box.
2) The Treasurer will access the P.O. box and deposit any checks received in
a timely manner.
3) The Assistant Treasurer will reconcile the checks received against
registration records provided by the events management vendor.
IV.
AREAS OF RESPONSIBILITY
1) The Treasurer and Assistant Treasurer are responsible for the overall
implementation of this policy, processes, and prescribed controls.
2) On an annual basis, the Finance Committee will review this policy, revise
(if necessary), and submit any material changes in the policy to the Board
for review and approval.
Effective: 11/20/2012
Revised: N/A