VCS Financial Accountability No No’s?
.25
11-13-2009
Dr. Demuth

 

We’ve all heard of “No No’s”. They are everywhere we look; Design no no’s, dog feeding no no’s, investing no no’s, to name a few. Have you heard about the VCS Financial Accountability No No’s?

  1. Calling vendors and placing an order without having a purchase order number
  2. Using a purchase request number as a purchase order number.
  3. Holding on to an invoice rather than sending them directly to accounting. (All vendors are to send invoices directly to accounting, not to departments).
  4. Sharing specific price quotes with other vendors in an attempt to get better pricing. Just ask them for the best price possible and if it is more than some other price, ask them if their price is the best they can do and can they do better.
  5. Failing to get three competitive bids on purchases over $300.
  6. Waiting until last minute to place orders, getting in products and then submitting a purchase order.
  7. Renting vehicles or equipment on your word only, without submitting a purchase order or check request.
  8. Failing to turn in receipts for cash advances, petty cash or checks. The amount of the receipt not submitted will be taken out of your paycheck when receipts are not turned in to verify the expenditure.
  9. Paying vendors out of cash receipts, regardless of the source of income. Receipt the funds, and then have a check written from the school to pay the invoice. When cash is used to purchase items, taxes would need to be paid,
  10. Purchasing items without using a tax exempt letter. You will be responsible for paying the tax when you turn in your receipts for reimbursement.
  11. Failing to code purchase orders and check requests correctly.
  12. Failing to provide receipts for funds collected and keeping a simple journal of receipts, to determine who paid and the amount.
  13. Making purchases of items students say they will purchase and not collecting the money in a timely fashion prior to making the purchase.
  14. Failing to plan ahead. Allow for a minimum of two weeks for small requests and longer for larger requests (over $500).
  15. Failing to have checks made out to Victory Christian School.