This policy exists to safeguard Little Rockets Childcare funds against the risk of fraud or impropriety, and to protect the staff members against false allegations. It is important that all staff members recognise this purpose, they should not feel that the regular application of such procedures is in anyway a slight on individuals’ integrity.
1. Staff members should never mix the settings funds with their own monies.
2. Cash must not be drawn from Little Rockets funds to cash private cheques.
3. Under NO circumstances should cash, cheques or petty cash be left unattended at the nursery. It will be kept in a lockable cash box at all times, until collected by the manager or nominated staff member.
4. One cash box key will be kept by the manager and one locked away as spare. If the manager is absent then the key will be held by the Deputy Manager.
The setting operates one petty cash account. The manager is responsible for ensuring all purchases are noted in the petty cash book and for lodging receipts. Any persons requiring cash back will hand in a purchase receipt, and sign and date a petty cash docket.
All banknotes of the value of £20.00 and over will be checked with the appropriate device.
Cash books and accounts
All accounts and financial records will be retained for a period of six years.
Any grant payment is recorded in the account book by the book-keeper and manager UPON RECEIPT ONLY.
Little Rockets employs a book-keeper to do a weekly setting payroll. The book-keeper will ensure that each employee is paid in accordance with the terms of payment detailed in his or her contract of employment.
The manager is the only person authorised to act as signatory. The manager will not sign, or be asked to sign, a blank or partially filled in cheque.
The book-keeper reconciles the bank accounts on a monthly basis, and then passes the records over to the manager to verify accuracy.
The manager checks the entries on the bank statement against those in the account book. Any interest / charges paid will be recorded in the setting account book.
Year end accounting
At the end of each financial year an account will be produced.
Purchasing from setting funds
The setting’s manager is the only person authorised to purchase items of equipment from the setting’s funds. A receipt must be kept for any cash reimbursement.