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Finance presents consolidated cash-and-payments-handling policy draft to audit committee
Summary
County finance staff presented a consolidated cash and payments handling policy and implementation plan that would centralize petty cash, refunds and other procedures across departments, emphasize segregation of duties and daily deposit rules, and roll out training starting with high-risk divisions.
Buncombe County finance staff presented a consolidated draft cash-and-payments handling policy to the Audit Committee and described next steps for management review and department training.
Mason, a finance presenter, told the committee the draft policy consolidates prior scattered guidance into a single policy and roughly 15–20 pages of procedures. "We previously had several pieces. We had a petty cash and change funds policy. We had a refunds policy. We had a till balancing sheet. They were all kind of placed in different locations," Mason said, describing the aims of centralization and consistency.
Key elements described in the draft include minimum baseline controls (receipt documentation,…
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