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Food Service – Cash Handling

Food Service – Cash Handling. Is all your money going where you want it to go?. Charles E. Linderman, PRSBA. Director of Business Affairs Great Valley School District 47 Church Road Malvern, PA 19355 (610) 889 – 2125 Ext. 2123 Clinderman@gvsd.org. Protecting your cash.

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Food Service – Cash Handling

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  1. Food Service – Cash Handling Is all your money going where you want it to go?

  2. Charles E. Linderman, PRSBA • Director of Business Affairs • Great Valley School District • 47 Church Road • Malvern, PA 19355 • (610) 889 – 2125 Ext. 2123 • Clinderman@gvsd.org

  3. Protecting your cash • Establish Internal Controls • Look for warning signs of embezzlement or theft • Perform periodic audits of operation • Implement backup plan

  4. Internal Controls • Screen Cash handlers before hiring • Use the 2 person system • Require documentation of receipts • Install effective inventory controls

  5. Internal Controls • Lockable money bags • Multi-part deposit tickets • Reconcile cash register to the deposit • Inventory personnel different than cash handlers

  6. Look for Warning Signsof Embezzlement/Theft • Decrease in Sales • Inventory Shortages • Decline in Bottom-line • Jumpy Personnel • If you suspect it …then it is probably happening

  7. Back-up Plans

  8. Conclusions • Establish Effective Internal Controls • Be aware of theft or embezzlement • Perform periodic audits • Establish a back-up plan

  9. Periodic Audits • Revenue trends • Do not pre-schedule audit • Inventory audit • Rotate job functions

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