Cash Management -  The process of dealing with cash accumualted by a public assembly facility.  Cash sources can include ticket sales, rent deposited,parking, concessions or merchandise sales.  Cash management is an isssue which requires attention to detail and defined controlled processes to ensure accurate accountability. 

Best practices include:

1.  Bond any emplyee who touches cash, to prevent employee theft.

2.  Use cash registers to track draws draws, shift cash on hand.

3.  Random cash audits.

4.  Safegaurd checking process and reconcile on a regular basis.

5.  Limit petty cash reserves.

6.  Invest excess cash in an interest-bearing account.

 Articles on Cash Management:

Watertight Cash Management

by Richard H. Gamble

http://www.businessfinancemag.com/magazine/archives/article.html?articleID=13986

Cash is King Video - courtesy of You Tube

http://www.youtube.com/watch?v=CTewUxIB-TI

 Create your own educational wiki!Support CommunityPublic, not yet premium Privacy Policy RSS