What is cash?
Cash is any money given to or paid to the group for The Society or group funds. This includes donations, money for tea or coffee, entrance fees, raffle money, bring and buy receipts etc.
Why and when is it important?
In order to safeguard the interests of both volunteers and the Society all groups must implement and follow the cash handling procedures outlined below.
These rules apply whenever you are raising funds or handling money on behalf of the group. Whenever cash is handled - whether it is small amounts at group meetings to cover tea and coffee or whether it is a major fundraising event - follow the rules: they are in place to protect you.
Cash Handling Procedures
- Two unrelated people (who must be members of The Society) and who do not live at the same address must always be present to count, record and check money.
- All money collected at a meeting can be collected together and counted as one amount (eg refreshments, raffle and bring and buy can all be counted together as one amount).
- One person must count the money and one person must check the totals are correct.
- Those counting and checking must complete a cash count form (a standard form is available with guidance here) or a similar record (it must contain the name of the group, the name and date of the event, details of the money counted and signatures of the person counting the money and that of the checker alongside the date they undertook the counting and checking).
What to do with the cash after it is counted
Groups not operating a Petty Cash Float: Pay the counted money into The Society’s Bank Account using the supplied account details (you can get this information by emailing firstname.lastname@example.org or by calling 0845 458 6211) as soon as possible; return the cash count form to UK Office with receipts for any expenditure that has been deducted and with details of any payment made to the Society’s account.
Groups operating a Petty Cash Float: Note all the cash as a receipt in the petty cash record; ensure all expenses have been recorded in the petty cash record; balance the petty cash record; if the petty cash exceeds the groups agreed amount then pay the excess into The Society’s bank account (unless otherwise agreed) using the supplied account details (you can get this information by emailing email@example.com or by calling 0845 458 6211) as soon as possible; notify UK Office of this transaction by emailing firstname.lastname@example.org or by calling 0845 458 6211; the cash count form and all receipts must be retained for submission with the next petty cash return.