Petty Cash and Finance

1. Responsibility of the Team Manager

The Team Manager must have experience and financial expertise to ensure the home is run on a sound financial basis which includes the long term financial viability of the home. The Team Manager to be familiar and receive sufficient training to allow then to comply with financial instructions and is updated with processes.

• Staff involved with this process must receive adequate training;
• Petty cash to be reconciled on a daily basis with 2 members of staff;
• Risk assessment reviewed regularly e.g. over frequent reimbursements, high value claims etc.;
• Secure storage of cash floats;
• Change float monies are always kept separate from other monies;
• Investigate imbalances when they occur.

2. Operational Arrangements

All members of Staff wanting to claim monies from Petty Cash must ensure:

• Purchase/use of petty cash is authorised by Team Manager/shift leader before purchase;
• Claims must be supported by receipts;
• Relevant forms are completed;
• All monies claimed are recorded in the Petty Cash book;
• A Petty Cash Expense Claim Form completed in the absence of a receipt.

A named member of staff is responsible for processing the receipts and must enter all transactions onto Fin 1. and record on data base.

The petty cash will be finalised at least once a month and sent to the finance department.