10 The head of any office must designate a staff member as cashier. All cash must, on receipt, be sent to the cashier of the office concerned. The cashier must give official receipts.
20 Offices making cash disbursements maintain cash accounts at the lowest level possible without prejudicing the operations of the office. Large disbursements (e.g. payment of monthly salaries) are provided for by bank withdrawals made just before the payment is due.
30 Offices holding cash must keep the cash locked in a safe at the office. Cash in safe must be insured against burglary or theft and the amounts of cash held must be declared to the insurers. Treasury in headquarters maintains a global insurance policy for cash held in safes. Each office should notify the Regional Budget and Finance Office and Treasury in headquarters of the cash amounts held in the safe so that these can be included in the amounts insured. Country offices should refer to the Budget and Finance Officers to determine if coverage under global insurance policy is adequate or whether additional insurance is necessary. For any ad hoc requirements, temporary insurance should be arranged sufficiently in advance of the period when the additional amount will be held in the safe. This insurance also covers the risk of robbery while cash is being carried by designated staff members between the bank and the office or project sites.
40 Postal and money orders are counted as cash in hand.
50 The use of promissory notes, postdated cheques or any form of loan arrangement is not permitted.
60 Offices must use the most secure and efficient ebanking systems available in the operation of their bank accounts. Secure electronic payment and bank account reporting systems facilitate timely bank reconciliations, and reduce the risk of fraud. Use of electronic payment systems must ensure that dual bank signatory arrangements are properly respected.
