FROM OAK VALLEY COLLEGE BYLAWS

SECTION 10. DUTIES OF TREASURER

Subject to the provisions of these bylaws relating to the "Execution of Instruments, Deposits, and Funds," the treasurer shall set policies and procedures for the Chief Financial Officer (CFO) to:

Have charge and custody of, and responsibility for, all funds and securities of the corporation, and deposit all such funds in the name of the corporation in such banks, trust companies, or other depositories as shall be selected by the board of directors.

Receive, and give receipt for, monies due and payable to the corporation from any source whatsoever.

Disburse, or cause to be disbursed, the funds of the corporation as may be directed by the Board of Directors, taking proper vouchers for such disbursements.

Keep and maintain adequate and correct accounts of the corporation's properties and business transactions, including accounts of its assets, liabilities, receipts, disbursements, gains and losses.

Exhibit at all reasonable times the books of account and financial records to any director of the corporation, or to his or her agent or attorney, on request therefor.

Render to the president and directors, whenever requested, an account of any or all of his or her transactions as treasurer and of the financial condition of the corporation.

Prepare, or cause to be prepared, and certify, or cause to be certified, the financial statements to be included in any required reports.

In general, perform all duties incident to the office of treasurer and such other duties as may be required by law, by the articles of incorporation of the corporation, or by these bylaws, or which may be assigned to him or her from time to time by the board of directors.

Internal Controls for Cash Handling at Oak Valley College

Accepting cash or check in person

  1. Eric, Mark, Amber, or Alisa may receive cash or checks from payee

  2. Cash is counted in front of payee to verify amount paid

  3. A hand-written sequentially numbered receipt is issued to the payee

  4. Cash deposits are counted in front of another staff member as soon as another staff member is available

  5. Cash deposits are made within two business days by either Eric or Mark (checks are deposited immediately via app)

  6. ATM receipts are placed in the cash box confirming the deposit (retained for one fiscal year)

  7. A deposit record is made, same day, as the deposit in Quickbooks and Populi (student information system). Payee can view their recorded payment in Populi.

Issuing payments (checks)

  1. Eric or Mark signs all checks

  2. Checks over $2,500 carry second signature

Reconciliation

  1. Eric inputs all transactions in Quickbooks

  2. Mark (CFO) reconciles the monthly bank statements in Quickbooks

  3. Mark (CFO) reviews monthly financial reports from Quickbooks with the Treasurer and Board Finance Committee

  4. The Treasurer receives electronic copies of bank statements no later than the 15th of the month from Mark (CFO)