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Check Signing Procedures (BF-1, Rev.3)CITY OF DELRAY BEACH ADMINISTRATIVE POLICIES AND PROCEDURES D E P A R T M E N T : S U B J E C T : Finance Check Signing Procedure PO LI CY N U M B ER :BF-1 S UP ER SED ES :BF-1,Rev.2 R E V IS IO N : A PP RO V E D B Y : P U R PO S E Terrence R.Moore, ICMA-CM EFFECT IV E D ATE : The purpose of this directive is to establish a procedure that provides for the separation of duties and adequate safeguards to control the check signing procedure. P O LI C Y BF-1.1 Safeguarding: A.Checks 1.Blank check stock will be locked in the Finance Department vault with access only by authorized Finance Department personnel. 2.When check stock is are needed,an authorized Finance Department employee will open the vault and select the check stock to be numerical order.If the check stock inventory needs to be replenished,an order for the next sequential checks is placed with the approved vendor who uses security features. 3.A designated printer,equipped with Magnetic Ink Character Recognition (MICR)ink,is utilized to print the checks so that bank and account information on the bottom of every check can be read by MICR check readers used by the banks.The printer is restricted to only those authorized to process a payroll or accounts payable checks. B.Check Log Form Electronic Check Issued file 1.An electronic file will be used to monitor and record the check numbers issued. 2.The current fiscal year and applicable period must be included in each electronic file 3.A pre-check edit report is generated,reviewed,and approved by the Supervisor. 4.The check numbers are then populated by the software once the beginning check number in the sequence has been entered by the AP Specialist running the checks.The beginning check number is the next in sequence based upon the last check number issued per the electronic file. 5.The check register report,which includes the check numbers,is generated and the check number sequence continuity is verified by the AP Specialist.The beginning and ending check numbers are then entered into the electronic file. 6.The check register and related invoices are reviewed and approved by the Supervisor for accuracy. 7.Once the check register has been reviewed and approved,the Accounts Payable personnel will then finalize the process and complete the Positive Pay Transmittal. 8.The Check Register Report is only applicable to Accounts Payable Checks. 9.The updated electronic file will be returned to the designated file folder until the next check run is processed by Accounts Payable or Payroll. 05.30.23 Check Signing Procedure BF-1 Page 2 of 2 BF-1_2 Check_Signing A.Authorized Signers 1.Authorized signer is an individual who must hold a management position and also not have access /authority to approve,record and reconcile the transactions. 2.Two authorized check signatures are required for all payroll and accounts payable checks. B.Maintenance of Authorized Signers 1.The Treasurer,or Finance Director's designee,is responsible for contacting the bank of which the account is associated with and complete required documents to add /delete authorized signers. 2.The Finance Department is responsible for notifying the Information Technology Department of authorized signers to be added or deleted from the current check printing software. 3.Sample signatures of authorized check signers must be completed in person,in the presence of Finance and IT staff members,before the digital signatures are input into the software.