PCACharterSchool

Transactions over $5000.00

*NOTE: Invoices that have a total of $5000.00 or more require a Purchase Order.

Majority of the payments are less than $5000.00.

The purchase orders for amounts above $5000.00 must be approved and signed by at least three of the following people, Principal, Head of School, and a designated Board Member, prior to the payment voucher approvalin FSF.

The purchase order is entered into FSF by the Business Assistant and approved by the Finance Manager once signatures are received for approval on the purchase order. The purchase order encumbers the funds, so that they will be available when the payment voucher is entered into FSF for payment.

The payment voucher is entered, referencing the purchase order number. Once payment voucher is approved by signatures, the payment voucher is approved in FSF by the Finance Manager.

State of Delaware Checks

Checks that arrive at the PCACharterSchool are given to the Business Assistant. A copy of each check is made and the amounts are checked and matched to the appropriate payment voucher (vendors name & address verified). The original check is mailed to vendor. The copy is attached to the payment voucher, along with supporting documents such as invoices, and packing slips, and filed numerically by Voucher ID in the appropriate FY Voucher file. Checks are given to staff members for field trips or activities and they must sign for the check and provide a receipt to the Business Assistant, who attaches the receipt to the voucher.

Local Bank Account Disbursements – Petty Cash Only

All disbursements made out of the PNC Checking account are initiated with either an approved invoice, or a check request. The approved Check Request or Invoice is given to the Business Assistant, who writes the check.

Prior to disbursing the check, signature of person receiving the check and check number is to be noted on the check request form, along with any supporting documentation, and filed in the petty cash folder.

APPROVED BY THE BOARD OF DIRECTORS FEBRUARY 20, 2007

REVISED BY THE BOARD OF DIRECTORS SEPTEMBER 20, 2011