ORANGE COUNTY CHILDREN’S THERAPEUTIC ARTS CENTER 13

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All invoices or vendor statements will be initialed by the Director of Programs or 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 Director of Programs and/or 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 (i.e. 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 Reporting: 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: OCCTAC 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/Insurance/License /Permits; OCCTAC Programs; Personnel documents and files; Vendor and Client contracts and other documents. OCCTAC 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 financial documentation must go through the accounting staff to get a photocopy of the 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 OCCTAC accounting staff. Monies received by mail: All checks received by mail shall be immediately stamped using the ORANGE COUNTY 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 and amount received. All cash received by mail shall be secured b_v the Secretary in a sealed envelope indicating amount and date received on the outside of the envelope. The envelope shall be kept under lock in the petty cash box until deposited. An Income/Deposit Summary Sheet shall be completed for all monies received. A copy of all checks and cash received shall be made and, along with all checks received, shall be attached to the Summary Sheet. The Summary Sheet, attached checks and copies thereof shall be forwarded to the Executive Director for review and deposit purposes. Billing: The after the Executive Director reviews the expenses, the Accounting Assistant will enter the data from the participants time sheets and related expenses into the accounting system to generate an invoice. The invoice will be on company letterhead. Wei