5.3 Minimum requirements
The following are the minimum requirements for processing cash/cash equivalent disbursements.
- There is proper identification of fund(s) chargeable, availability and required accounting information including donor specific line item(s).
- Supporting documentation provides sufficient evidence of amount owed and receipt of the goods/services as per the negotiated conditions. If any supporting documentation is missing, then the reason for this needs to be documented.
- There is proper authorisation of transactions, which is made according to Annex 17.1 Authorised Signatory Limits Form by the corresponding budget holder and charged to an approved budget.
- Cash/cash equivalent disbursements exceeding USD5,000 or its equivalent in the local currency must be co-signed by two authorised signatories. This is also applicable to project disbursements authorised by project managers/coordinators through a cash float, or payments made through a cash facilitator.
- Once a cash/cash equivalent payment has been issued, all documentation needs to be cancelled or stamped to ensure that it is not inadvertently processed again. This includes stamping all accounting and supporting documents that indicate the cash disbursement voucher and cheque number.
- All transactions and supporting documentation must be filed sequentially in box files and stored in a secure location. Poor filing may lead to documentation being misplaced or lost, thereby having negative effects on subsequent audits/reviews.