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Missing Receipts Policy

Understanding Our Policy on Missing Receipts for Program-Related Expenses

Maintaining proper documentation, including receipts for program-related expenses, is required by federal law and state-mandated audits. This is essential not only for legal compliance but also for ensuring transparency and accountability in financial transactions.

Sometimes, despite our best efforts, receipts may go missing. In such instances, it is important to follow established procedures to address the issue. The following policy outlines the procedure for handling missing receipts to ensure compliance and maintain program integrity.

Effective Date: August 1, 2024

Purpose

This policy establishes guidelines for managing missing receipts related to program expenses to ensure compliance with federal law, state audits, and organizational financial controls. Maintaining proper documentation is essential for transparency, accountability, and program integrity.

Scope

This policy applies to all volunteers, contractors, and employees of NOPI’s fiscally sponsored programs who make purchases, incur expenses, or submit reimbursements on behalf of the organization.

Definitions

  • Missing Receipt: A receipt that has been lost, misplaced, or is otherwise unavailable for submission with an expense report.
  • Acceptable Evidence of Payment: Alternative documentation that verifies a transaction, such as a bank statement or vendor invoice.
  • NOPI-issued Expense Card: The company credit card for day-to-day business expenses.

Policy Statement

All program-related expenses must be supported by proper documentation, including receipts, to comply with federal and state regulations and maintain program integrity.

Procedures for Handling Missing Receipts

  • Documentation Requirements
    • All expenses must include a receipt showing the date, vendor, amount, and items or services purchased.
  • Alternative Evidence for Missing Receipts
    • If a receipt is missing, the cardholder must provide:
      • A bank statement clearly showing the transaction details, or
      • An invoice from the vendor confirming the expense.
  • Detailed Explanation
    • If neither a bank statement nor an invoice is available:
      • A detailed explanation for the missing receipt must be provided.
      • This explanation should be entered in the transaction description space when submitting the expense for approval.
  • Debit Card Freeze
    • If an individual has five (5) or more missing receipts, their NOPI-issued Expense Card will be frozen, restricting further access to funds until missing receipts are submitted or issues are resolved.
  • Responsibilities
    • Cardholders: Ensure all required documentation is submitted in a timely manner to avoid disruptions in debit card access.
    • Program Managers: Review missing receipt explanations and support staff in maintaining compliance.
    • Finance Department: Monitor compliance, review explanations, and enforce debit card freezes as required.
  • Compliance and Accountability
    • Policy Compliance
      • All employees are expected to comply with this policy.
        Non-compliance may result in suspension of debit card privileges, administrative review, or other disciplinary actions as deemed necessary.
    • Audit and Review
      • Regular audits of expense reports and receipts will be conducted by the finance department to ensure compliance with policy guidelines.
      • This policy will be reviewed annually and updated as needed.

Contact Information

Employees should contact the finance department at accounting@thenopi.org with questions or for clarification regarding this policy.

 

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