Cash: House Float – Unannounced Cash Count

Procedure :

1. In addition to the year-end closing exercise: 

   1. The Director of Finance & Business Support will count all house floats at least once a month on a surprised basis.

   2. A person designated by the Director of Finance & Business Support, will count the general cashier’s float monthly on a surprise basis. Attention will be paid to all petty cash vouchers should be current, approved and adequately supported.

   3. All other floats will be counted monthly on a random surprise basis. The list of house floats will be used to ensure the completeness of surprise counts. The cashier will be present throughout the count and will sign the CASH FLOAT CHECKING LIST (Attachment 1) verifying the accuracy of the count. Cash Count Sheets will be filed for future reference.

   4. If front office or F&B float counts are performed in the middle of a cashier’s shift, the cashier's cash report will have to be printed. Overages and shortages will be recorded on the cash count sheet. Overages must be deposited immediately and shortages recovered from the cashiers

   5. All cash must be listed on a Cash Count Sheet, divided between local and foreign currency. Foreign currencies should be converted into local currency by using the Front Office exchange rate on that date

   6. All non-cash items must be listed with a date.

   7. Supporting documentation should be attached to the Cash Count Sheet.

      
      

2. Reporting of Cash counts, overages and shortages  

   1. The Director of Finance & Business Support must sign all Cash Count Sheets to signify his review of the float counts.

   2. All shortages and overages of the float counts must be summarized at the end of the accounting period. The summary must be signed by the Director of Finance & Business Support, reported to the General Manager, and then signed by the General Manager.

   3. Overages should be recorded as Other Income. Shortages must be collected from the relevant cashier.

3. Retention of Cash Count records

   The original Cash Count sheets must be retained by the Director of Finance & Business Support for at least one year, for review by the Internal audit department.