What is the correct way to prepare and document bank deposits?
A The group of cash receipts representing the weekly deposit should be entered on SAFE each week; do not wait until the end of the month. Cash Receipt forms should be grouped in a fashion that allows the receipts to be easily traced to the actual deposit ticket. Most schools accomplish this by grouping the Cash Receipt forms together and attaching them to the deposit ticket. The sum of the individual cash receipts should equal the total deposit shown on the deposit ticket as well as the deposit total listed on SAFE. Individual receipts should be recorded on SAFE, and the sum of these receipts should be equal to the total SAFE and bank deposit. The deposit amount per the deposit ticket, the SAFE report, and the bank statement should all agree. Expending Funds General Concept: No expenditures should be made without prior authorization by the principal. Authorization means the principal understands and agrees with the nature and purpose of the expenditure. Documentation for every expendit
