Senior Housing Management
ACTIVITY BUDGET & BALANCE SHEET PROCEDURES
1. Petty Cash is a designated amount of cash for the facility to have on hand for small purchases. The Petty Cash is a general fund and the Activities Petty Cash is a separate fund for the sole purpose of Activities. The Activities Petty cash is not to be confused as the given “budget” amount. All cash expenses need to be recorded onto the appropriate departments budget control form.
2. All monies are to be kept in a locked box in the manager’s office. The Activities department is to have their own box and kept separately from other funds. The manager is however, soley responsible for all cash.
2. Reimbursement for BOTH petty cash accounts should be turned in on the 15th and the last day of the month. The accounts must be cut off on the last day of the month, reconcilled and turned into the accounting office regardless of how much cash is needed.
3. All receipts, with the name of the vendor on them, should be stapled to the back of a petty cash slip. The petty cash slip needs to describe what the item was for and what department(s) the item should go to along with the dollar amount.
5. The Petty Cash Balance Sheet and the Activities Balance Sheet (SOP 163) must be completed recording each transaction when reconciling and turning in for reimbursement. The form should start with a beginning balance (same as previous reimbursements ending balance) record the money received from corporate and then list individually each petty cash slip with the vendor, description and amount. The bottom of the form needs completed with the starting balance, moneies received, total receipts for reimbursement and the final ending balance.
6. The ending balance must on the balance sheet must match actual cash on hand. If it does not then the petty cash is out of balance. The actual cash also needs recorded on the bottom left hand side of the form.