References:

References:

• HCO PL 29 Jan. 71 Rev. 27 Oct. 82 Finance Series 1R FLAG BANKING OFFICERS

• HCO PL 29 Jan. 71 Rev. 27 Oct. 82 Finance Series 1R FLAG BANKING OFFICERS

The FBO collects the cash from Div III.

The FBO collects the cash from Div III.

He verifies what he has received.

He verifies what he has received.

He gives a receipt for it.

He gives a receipt for it.

He writes it all down in his records, making a total list of what the monies are.

He writes it all down in his records, making a total list of what the monies are.

He makes out a bank deposit slip.

He makes out a bank deposit slip.

He goes to the bank and he deposits the money in his FBO No. 1 Account.

He goes to the bank and he deposits the money in his FBO No. 1 Account.

Exec Council of the org passes on and finalizes its FP and hands it to the FBO who verifies it by production for himself.

Exec Council of the org passes on and finalizes its FP and hands it to the FBO who verifies it by production for himself.

The FBO writes a transfer check from his FBO No. 1 Bank Account and just transfers the FP amount to the org’s bank account (Main Account).

The FBO writes a transfer check from his FBO No. 1 Bank Account and just transfers the FP amount to the org’s bank account (Main Account).

The org’s own officers are signatories on their own bank account.

The org’s own officers are signatories on their own bank account.

The FBO and the Finance Enforcement Officer of the org are signatories on the FBO account. Where there is no Finance Enforcement Officer, the D/FBO or CO or ED are cosignatories.

The FBO and the Finance Enforcement Officer of the org are signatories on the FBO account. Where there is no Finance Enforcement Officer, the D/FBO or CO or ED are cosignatories.

The FBO has a second bank account (FBO No. 2) to which he transfers money for management expenses.

The FBO has a second bank account (FBO No. 2) to which he transfers money for management expenses.

He transfers money from the first (FBO No. 1) account to SO (not org) reserves.

He transfers money from the first (FBO No. 1) account to SO (not org) reserves.

The FBO keeps an invoice-disbursements system on his No. 2 Account.

The FBO keeps an invoice-disbursements system on his No. 2 Account.

The FBO never spends any money out of his No. 1 Account. Money goes into it and is transferred out of it. Only transfer checks are drawn on it (to SO reserves or to Org Main Account).

The FBO never spends any money out of his No. 1 Account. Money goes into it and is transferred out of it. Only transfer checks are drawn on it (to SO reserves or to Org Main Account).

The FBO keeps enough float in his No. 1 Account to cover bounced checks. Checks bounce ONLY on that account.

The FBO keeps enough float in his No. 1 Account to cover bounced checks. Checks bounce ONLY on that account.

The minute a check bounces or fails to clear, the FBO reports the drawer for false report and personally contacts him to establish whether the check should be represented or another check drawn.

The minute a check bounces or fails to clear, the FBO reports the drawer for false report and personally contacts him to establish whether the check should be represented or another check drawn.

This transaction does not go through the org Div III and is not entered on the org’s books. The org is left in the position of the customer’s friend. It is the FBO who is the customer’s devil.

This transaction does not go through the org Div III and is not entered on the org’s books. The org is left in the position of the customer’s friend. It is the FBO who is the customer’s devil.

Div III collections have to do with collecting Qual credit invoices and advanced payments and any other credit advanced by the org.

Div III collections have to do with collecting Qual credit invoices and advanced payments and any other credit advanced by the org.

FINANCE OFFICE (org name) NO. 1 ACCOUNT. Signatories: FBO of the org and Finance Enforcement Officer of the org as well as international officers. No org officers except as needed in the absence of the Finance Enforcement Officer and D/FBO. Transfers only. Requires both signatories.

FINANCE OFFICE (org name) NO. 1 ACCOUNT. Signatories: FBO of the org and Finance Enforcement Officer of the org as well as international officers. No org officers except as needed in the absence of the Finance Enforcement Officer and D/FBO. Transfers only. Requires both signatories.

FINANCE OFFICE (org name) NO. 2 ACCOUNT. Signatories: FBO of the org, Finance Enforcement Officer of the org and international officers. No org officers except as needed in the absence of the Finance Enforcement Officer and D/FBO. Management expenses, no org expenses. Requires both signatories.

FINANCE OFFICE (org name) NO. 2 ACCOUNT. Signatories: FBO of the org, Finance Enforcement Officer of the org and international officers. No org officers except as needed in the absence of the Finance Enforcement Officer and D/FBO. Management expenses, no org expenses. Requires both signatories.

ORG MAIN ACCOUNT. Receives only monies transferred from FBO Account No. 1, never from Cashier. Usual org signatories. The allocation received from the FBO goes into this account. All org expenses, salaries, etc., are paid from this account.

ORG MAIN ACCOUNT. Receives only monies transferred from FBO Account No. 1, never from Cashier. Usual org signatories. The allocation received from the FBO goes into this account. All org expenses, salaries, etc., are paid from this account.

ORG RESERVE ACCOUNT. Receives any funds like building fund org is holding as reserves for the org as saved from allocations. Held by and signed on by the org officers.

ORG RESERVE ACCOUNT. Receives any funds like building fund org is holding as reserves for the org as saved from allocations. Held by and signed on by the org officers.

HCO BOOK ACCOUNT. Used as per policy. Any monies belonging to it collected by FBO, into his No. 1 Account and transferred to HCO Book Account by him. Usual org signatories and D/FBO who is the holder of the checkbooks.

HCO BOOK ACCOUNT. Used as per policy. Any monies belonging to it collected by FBO, into his No. 1 Account and transferred to HCO Book Account by him. Usual org signatories and D/FBO who is the holder of the checkbooks.