Current through Register Vol. XLI, No. 50, December 13, 2024
Section 95-3-3 - Fiscal Management3.1. Accounting Procedures. The methods used for collection, safeguarding and disbursement of monies shall comply with accounting procedures established by the appropriate jurisdiction.3.2. Minimum Policies. The facility shall have written policies and procedures approved by the parent agency that includes, at a minimum: 3.2.a. Internal controls;3.2.b. Petty cash procedures;3.2.c. Bonding for all appropriate staff;3.2.d. Signature control on checks;3.2.e. Handling of inmate funds;3.2.f. Employee expense reimbursement; and3.2.g. Issuance or use of vouchers.3.3. Audit. The facility or parent agency fiscal process shall include an annual external financial audit of the facility at time periods stipulated by applicable statutes and/or regulations.3.4. Inventory. There shall be inventory control of property, stores and other assets. Such inventories shall be conducted at time periods stipulated by applicable statutes, however, they should not exceed every two years.3.5. Insurance Coverage. Each facility shall have insurance coverage which includes, at a minimum: worker's compensation, civil liability, liability for official vehicles, and public employee blanket bond.3.6. Personnel Assessment. Budget policy and procedure shall provide for an annual assessment of presently assigned positions and future personnel needs required to meet facility objectives.