CASH CONTROL
Whenever cash accumulates at an event, you must take steps to ensure its safe custody and control. The same is also true of unpaid pledges as those represent your accounts receivable. The cash area for any event is usually separate, but not segregated, from the main activities of the event. NEVER have one person only responsible for cash at any stage of the event. I, unfortunately, have seen far too many instances where “good citizens” pocketed funds that others worked hard to accumulate. Sometimes the temptation is just too great. Don’t take an “it can’t happen to us” attitude. Let me assure you, it does happen, and if you are not careful, it will happen to you.
Make sure that the total cash receipts balance with something at the end of the day. If tickets are being sold, balance the cash total to the product of tickets sold by selling price per ticket. If pledge sheets are being turned in with cash and uncollected pledges, balance total cash to the total of cash turned in with each pledge sheet. If items are auctioned, balance total cash with all the bid sheets turned in. The important principle to recognize is that if you are, in fact, out of balance at this point, it is much easier to find the problem at the event than after it’s all over. Recount the cash, re-total the summaries, re-total the entry sheets (i.e. pledge sheets), and make sure that all charge card sales drafts are properly accounted for. These sales drafts must also be balanced to summary sheets, as was the cash.
If the cash balances accumulated during your event warrant it, you should ask security volunteers to stand by to keep a watchful eye on things. Off-duty police in uniform work well for this purpose.
Finally, where cash balances are significant, arrange for the use of the night depository service at your bank. Have a security volunteer drive with a police officer to the bank at infrequent intervals during the course of the event.
