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Petty Cash
The objectives of this documented Petty Cash process include to;
• provide funds for minor expenses
• ensure the cash is available when needed
• accurately account for petty cash/ advances issued to staff
This objectives are achieved by the various processes documented below.

1.0 Petty Cash Policy Statements
• An amount not more than N250,000 shall be dedicated as float for the purpose of petty cash administration. This amount shall be reviewed periodically by the Head-Accounts with the approval of the NBA President.
• The float shall be kept by a petty cashier for the purpose of funding. Only approved petty cash shall be disbursed.
• Only officers with approval limits (i.e. head of department) shall approve petty cash requisition.
• The petty cash expenses will be limited to amounts not exceeding N20,000 (twenty thousand naira) for expenses including but not limited to:

a. Fuel expenses
b. Official entertainment expenses
c. Minor purchases and expenses
d. Minor repairs and maintenance
e. Local transportation
f. Other minor expenses that may be logical and relevant to operational needs

• This list of allowable petty cash expenses shall be reviewed regularly and updated accordingly upon approval by the NBA President.
• There shall be segregation of duties between the custodian of petty cash, the officer responsible for approval of and replenishment of petty cash.
• The petty cash officer shall maintain a petty cash register for the purpose maintaining petty cash records.

2.0 Petty Cash Requisition
• A requesting department/individual raises a petty cash requisition and forwards to the petty cashier.
• The requisition must be approved by the HOD of the requesting department.
• The petty cashier reviews the requisition and confirms the item required is an allowable petty cash item, otherwise, redirect requisition to procurement or other appropriate process. List of petty cash allowable expenses are documented in the policy statements for petty cash above and is subject to amendments upon approval by the NBA president.
• Subsequently, the petty cashier prepares a petty cash voucher for approval by the Head of Accounts. • On approval, the petty cashier disburses cash and the requesting individual signs for the
cash received.
• After incurring the expenses, the requesting individual must ensure that the petty cash obtained is retired and relevant support documents and balance (if any) are submitted to the petty cashier.
• Support documents shall be filed accordingly with appropriate documentation.

3.0 Petty Cash Disbursement
• The maximum amount payable by the petty cashier shall be N20, 000 per expense.
• A duly completed and approved petty cash request form shall be presented by the requesting officer to the petty cashier for disbursement of petty cash.
• Expenses paid from a petty cash fund can only be made for the purpose for which the fund was authorized.
• At every point in time, the total amount of all receipts plus the cash on hand shall be equal to the total approved petty cash float of N250,000.
• Cash count shall be performed at the end of each day by the petty cashier and reconciled to the book balance of the cash on hand.

4.0 Petty Cash Retirement
• Petty cash advances/disbursements shall be retired within 72hrs of completion of the transaction for which the request was made.
• Retirement of petty cash shall be done using the petty cash voucher
• Any unexpended petty cash shall be accounted for on the petty cash voucher and returned to the petty cashier.
• Evidence of expenditure such as receipts, tickets etc. shall be attached to the petty cash voucher or retirement form.
• Petty cash advances not retired within the stipulated timelines shall be recovered from the requesting staff’s salary.
• Where no evidence of expenditure is provided, the HOD of the requesting department shall sign off on the expense, otherwise the amount of the un-receipted expense will be recovered from the requesting staff’s salary.

5.0 Petty Cash Reimbursement / Replenishment
• At the end of each month or when the petty cash balance available reaches a reorder level of N60,000, the petty cashier shall complete the petty cash replenishment form.
• The amount that shall be requested for reimbursement shall be equal to the summation of approved petty cash disbursed during the month, bringing the total available petty cash float to the approved monthly amount of N250,000.
• The request shall be submitted with supporting documents including:

a. Petty cash register b. Petty cash support documents i.e. request forms, receipts etc.
• Such requests shall be reviewed by the Head-Accounts and approved for payment by the NBA President.
• All cheques for replenishment of petty cash float shall be made payable to the petty cashier.
• On no account shall the petty cashier have the aggregate of cash and unpresented for reimbursement vouchers that will be more than the float.

6.0 Physical security of petty cash
• Petty cash shall be placed in a safe i.e. fire – resistant box
• Access shall be granted to only authorized personnel

7.0 Cash counts
• End of month cash count – At the end of the month, a member of staff from a different team other than finance team e.g. Internal Audit department or Administration department, will be appointed by the Head of Finance, shall conduct a cash-count and reconcile the cash counted to the book balance and the cash on hand. Any issues noted during the cash count shall be documented in a Cash count report.
• Surprise cash count – Management or the internal auditor shall carry out unannounced cash counts at least once a month or as deemed necessary. This aims at ensuring the cash on hand equals the book balance at all times.


1. Travel and Subsistence
NBA recognizes the need for travels in the course of executing and meeting the objectives of the MacArthur Foundation Project and its other functions. Travel and subsistence needs may arise for members of staff from conferences, domestic trainings and meetings. Consequently, NBA acknowledges the need to allocate and release travel funds for all reasonable expenses.

1.1 Objective
The objective of this policy is to instill accounting and retirement discipline as well as transparency in NBA-related travel expenses. The policy also seeks to ensure that funds collected from the association are utilized for the purpose it was disbursed in line with the transparent accounting policy that is being entrenched in the NBA administration. It also bears emphasizing in specific regard to the MacArthur Foundation ACJA project that the NBA has an obligation to properly account to the Foundation for all expenses incurred with receipts therefor.

1.2 Scope
This policy covers NBA’s travels and meeting expenses as it relates to the MacArthur Foundation project and for other purposes as well as reimbursements including travel costs, accounting for travel costs, and entertainment during travels.

2. Policy

2.1 General
It is the policy of NBA to release funds in form of advance for all its activities. In situations where advances are obtained, members of staff while traveling on official business must exercise sound judgment in incurring expenses as all advances will be accounted for. Travel requests must be in writing, approved by the President through the General Secretary’s recommendation, and shall state the following:

a. Purpose of travel;
b. Travel destination;
c. Travel accommodations;
d. Mode of Transportation; and
e. Travel dates and duration.

The Internal Auditor (or in his absence, the Accountant) shall review requests for advance and ensure that there is sufficient cash to accommodate the expense. Alcohol or tobacco expenses do not qualify as expense for advances or retirements. NBA’s funds shall not be used for such expenses.

2.2 Travel Cost: Transportation
Transportation shall be by air, train, bus, taxi, or use of rental or personal vehicle. Adherence to safety measures is paramount and always required.

Carpooling is encouraged for members of staff traveling to the same location. The shortest and most direct routes are encouraged for economy and efficiency. Timely planning and booking of rides and air travels is encouraged to obtain the lowest priced airfares.

Use of the Association or personal vehicles is acceptable when it is evident that transportation via other means is not practical or when it is less expensive. Reimbursement to the owner of the personal vehicle will be at the current cost per mile rate approved by the National Executive Committee or the President personally or through the General Secretary.

2.3 Travel Cost: Accommodation and Meals
The policy allows verifiable payment for a single room for as many nights as necessary while carrying out official duties. Accommodation and per diem threshold shall be established and reviewed by the Head of Administration and Finance from time to time and shall be duly approved by the President through recommendation from the General Secretary. This implies that where payments seem ambiguous or outside the expected threshold, the approver or internal/external audit can verify such claims. Accommodations should be economical but practical.

NBA shall not reimburse any staff for fines for traffic violations or private auto repair, alcohol purchases, entertainment, or club fees.

2.4 Accounting for Travel Expenses
The staff incurring travel cost shall ensure that the President pre-approves the expense. Once travel is completed, he or she is responsible for submitting receipts or other documentation for all monies received and other reimbursable costs (if any).

All staff of the NBA (and National Officers who may have to travel in respect of MacArthur Foundation Project) shall prepare Travel Expense Reports documenting the travel costs including the amount, place, and purpose of the business travel. The staff and the relevant National Officers shall submit the report no later than seven (7) days after incurring the expense. The accountant shall review these documents for adherence to approved limits.

2.5 Supporting Documents
The NBA requires that receipts must be submitted for all monies received and spent. Supporting documents should provide evidence of the amount paid for the goods bought or services paid for.

A photocopy or typed receipt shall not be acceptable as supporting document.

Below is a list of acceptable supporting documents for each category of expenditure:

 S/No Expenditure Acceptable Supporting Documents
 1 Accommodation  Hotel Invoice/Receipt.
 2 Air Transportation  1. Airline Ticket 
2. Boarding Pass
3. Proof of payment made to the airline or booking
agency (This must tally with the flight details)
 3 Local Transportation  1. Uber, Taxify and other Taxi receipt (Where Applicable)
2. Bus ticke
 4 Other forms of
Receipt of purchase/evidence of payment.

2.6 Reimbursement for Travel Expense
In circumstances that an NBA Staff or National Officer is not advanced with funds for any pre- approved travel, he/she may undertake the trip with his personal funds based on and in conformance to the provisions of this Policy provided that he shall retire the travel expense in the manner stipulated in this Policy and be reimbursed with such costs and expenses within 7 (seven) days of such retirement in the event that the travel advance was not paid to him/her before the said period.

2.7 Violation of Travel Policy
All NBA staff and National Officers who may have to travel in respect of MacArthur Foundation Project assignments are expected to comply with this travel policy. Violation of this policy will result to disciplinary actions against the staff. National Officers should please set the example in compliance for the staff.
The NBA will recoup all un-retired advance from the financial entitlement of defaulting persons.

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