Policy:

To ensure the proper safeguarding of cash, it is the town's policy to deposit cash in the bank at least twice a week. On any day in which cash receipts exceed $500.00, a bank deposit shall be made at the start of the next business day. An attempt will be made to make a deposit every Friday

Procedure:

The Treasurer/ Tax Collector/ Clerk or their deputy shall make the bank deposits in accordance with town policy. All deposits for a day's activity shall be accounted for on an individual deposit slip. If there are multiple day deposits, the deposit slips shall indicate the day the deposit was made as well as the individual days that the cash was collected in. This will ensure that all deposits are made intact

Oversight:

At least once a month, the chairman and the vice chairman of the Board of Selectmen shall review a week of bank deposit activity to determine that the town's policy is being followed.

Date of implementation: .I/04/2000

Back to Selectmen's Meeting Minutes for January 3, 2000

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