O.C. CHILDREN’S THERAPEUTIC ARTS CENTER 9 - 2007

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Disbursements: All disbursements shall be made by check drawn on the established operating checking account for the OCCTAC. All disbursements shall utilize pre-numbered checks used in sequence. Any and all "voided" checks shall be mutilated and notes on the voided check stub. At no time shall disbursements be made to "bearer" or to "cash". All banking materials, records, blank checks, and deposit books shall be maintained in secure cabinets in the OCCT AC office under the supervision of the Executive Director, Program Director and Finance/Accountant or staff. Only those individuals authorized to handle check stock as their part of their accounting duties for OCCTAC account shall have access to these banking materials. Disbursements shall be prepared from original invoices. Each disbursement shall require submission of a purchase request form and appropriate backup documentation. Invoices shall be date stamped upon receipt and marked "approved for payment" by the Accountant. All invoices or vendor statements shall be initialed by the Executive Director prior to signing the check to pay that bill or invoice. After checks are printed and signed. the accountant shall mark "Paid" with the date of payment and check number utilized for payment. All disbursements shall be reviewed and approved by the Executive Director. A monthly review of all disbursements shall be conducted by the Accounting/Finance Director for verification of accuracy, documentation and appropriate approval. The Executive Director shall be authorized to expend funds as approved by the Board of Directors under the organization's annual operating budget. All requests for reimbursement shall be reviewed and approved by the Executive Director. All reimbursements are subject to budgetary limitations as established in the organization's approved operating budget. No reimbursement shall be made without appropriate backup documentation (ie. Receipt or comparable document stating purchase description, date, place and amount of sale and of the specific reimbursable item). Reconciliation of Accounts: All OCCTAC bank accounts shall be reconciled monthly. A monthly review of all accounts and financial reports shall be prepared by the Board Treasurer or designated Finance Committee Member. Financial Reportine:: The Administrator shall maintain books of account using Generally Accepted Accounting Principles. and an accounting system capable of managing the bookkeeping and financial reporting needs of operating the Center. Files And Records: OCCT AC shall maintain hard copy files for all operational and business transactions that occur. Files shall be separated into the following categories: Accounting records: Grant documentation: Tax filings: Donors; Legal/lnsurance/License /Permits: OCCTAC Programs: Personnel documents and files: Vendor and Client contracts and other documents. OCCT AC shall maintain electronic and hardcopy records of all accounting transactions and financial reporting. All electronic records shall be copied and stored in a secure, off site location or in a web based file storage system. All financial and accounting hardcopy files shall be stored in a secure lockable file cabinet. Any requests for filed tinancial documentation must go through the accounting staff to get a photocopy ofthe original document. Original financial documentation shall remain in the file cabinet at all times unless it is being copied and returned to the files by the OCCT AC accounting staff. Monies received bv mail: All checks received by mail shall be immediately stamped using the ORANGE ~OUNTY-CHILDREN' S THERAPEUTIC ARTS CENTER "For Deposit Only" stamp bearing the ORANGE COUNTY CHILDREN'S THERAPEUTIC ARTS CENTER Operating Checking Account number. All monies (cash or check) shall be recorded on the Income Log indicating date of receipt, name of source or donor. purpose if indicated