Professional Documents
Culture Documents
Bank Account
Bank Account
Bank Account
Account Creation
Upon receipt of the Executive Board resolution authorizing the bank account, the
authorized financial officer sets up the bank account.
Account Policies
Account Maintenance
The account & checkbook must be reconciled each month, and delivered to the Executive
Board for review.
There should be sufficient funds in the account to cover checks paid at all times.
Accounts should not be overdrawn at any time.
The authorized person must maintain a checkbook or record of disbursement from and
deposits to the account.
Accounts Payable Review
Upon receipt of the check request form, the Accounts Payable will perform an audit to
ensure that all disbursements adhere to the ABDE policy and controls. If all invoices
meet these criteria, a check will be issued.
Account Reconciliation
The authorized person is required to perform a timely reconciliation of the bank account.
At minimum, this reconciliation should be performed monthly and forwarded to the
Board of Trustees for review.
Closing Accounts
Bank accounts are periodically reviewed by the Executive Board for compliance with
ABODE policies and to determine the usefulness of the account. Accounts that are in
violation of ABODE policy or that have outlived their specific purpose will be
recommended for closing.