CHECK SIGNING PROCEDURE

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Definitions

an executive with the authority to sign checks must for his own protection and that of the org, know and have the following before signing any check of any kind for anything: (1) amount of bills owed by the org, total and since when; (2) amount of cash in the bank by bank statement (not by adjustment of outstanding checks); (3) the adding machine tape of the checks being presented; (4) a disbursement voucher white clipped to each check. With these data one can see whether or not it is safe to sign a check or whether instead one must carefully plan one's way out of an impasse and preserve credit. (HCO PL 30 Jan 66 IV)