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News - Details

SOLAR SOCCER CLUB PRESIDENT ACCUSED OF STEALING

April 22, 2011 04:29 PM

Clubs need to make sure there is a system of financial checks and balances which at a minimum should consist as follows:

a.      Written procedures for how finances will be handled, i.e. divide responsibilities – check writing, receiving funds, making deposits should be done by more than one person.
b.      Monthly reconciliation of bank statements by someone who does not have authority to deposit or withdraw funds.
 
It is recommended to include a crime insurance protection in your policy. Solar Soccer Club did not procure any protection for it.
To watch a video, please click HERE.

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