Board of Finance Investment Report for FY 2016

Home Browse Search

City of South Bend Administration & Finance Policy Manual �SC,tiTrr a 2.11 Stale Dated Check Policy Effective:January 1, 2010 Purpose: This policy defines the practice and protocol for handling stale dated checks issued by the City of South Bend. Scope: This statement applies to all governmental units, enterprise operations, and operations of the City of South Bend. Responsibility: This policy is the responsibility of the Controller of the City of South Bend. Changes or revisions to this policy are affected only with the consent and approval of the Controller. Effective Date: This policy is effective January 1, 2010. 1.0 Policy Statement The City of South Bend has defined that payroll checks and account payable disbursement checks drawn on city accounts will have a two (2)year active life from the date of issuance as noted on the check. Un-cashed checks, beyond two (2)year active life period, are no longer valid and shall be classified as a stale dated check. 2.0 Responsibility Administration of the stale dated check policy is delegated by the Controller, to be the responsibility of the Director City Finance. The Director City Finance will identify the payroll and payable disbursement checks that are classified as stale dated checks, prepare such list and submit to the Controller for approval. Upon approval of the Controller, the stale dated check list will be presented to the City of South Bend Board of Finance, at the first annual Board of Finance Meeting during each calendar year, for Board of Finance vote on the stale dated check disposition recommendations as presented by the Controller. 3.0 Board of Finance Filing Requirements 3.1 The Controller shall file with the Board of Finance, documents as defined in paragraphs 3.1.1 and 3.1.2 and the Controller's recommendation, at least 72 hours prior to the first annual Board of Finance Meeting called for each calendar year: 3.1.1 Payroll Stale Dated Checks: Proposed list of all stale dated checks recommended to be written off, identifying the check number, employee name, date of check, amount of check, fund name, fund number, and any other information deemed necessary by the Controller. 3.1.2 Account Payable Stale Dated Checks: Proposed list of all stale dated checks recommended to be written off, identifying the check number, vendor name, date of check, amount of check,fund name,fund number, and any other information deemed necessary by the Controller. 14