4.4.1 Cash limits
|Description||Maximum USD/Equivalent amount|
|Cash floats-Maximum outstanding balance for staff members||USD5,000|
|Cash-Maximum amount allowed to be hand-carried by CARE staff||USD20,000|
|Petty cash-Maximum amount allowed to be held as a petty cash float||USD5,000|
|Cash-Normal maximum for storage and kept in a safe in secure location||2 x local payroll costs|
|Cash-Maximum amount to be transferred between sub-offices||USD20,000|
Disbursement procedures and limitations on the use of these funds are discussed in section 5 Cash disbursement control procedures . In addition, note that these limits represent the maximum amounts and may be lowered but not increased. The actual limits used should be designated in terms of local currency by a person with sufficient authority, and take into account the purchasing power of foreign currencies in the local environment. All changes in the limits must be properly documented and made available for future audit reviews.