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Non-Profit Policies & Procedures Artsian Global Development

Document #: Title: Print Date:
FCR103 BANKING POLICY AND
RELATIONS
Revision #: Prepared By: Date Prepared:
0.0
Effective Date: Reviewed By: Date Reviewed:

Approved By: Date Approved:

Standard: N/A

Policy: The Finance Department can arrange with several banks to provide for the
operational requirements of the Company and can invest excess capital funds
in certificates of deposit, money market funds and in federal obligations
such as Treasury Notes and Bills. Further, the Finance Department will
maintain positive relations with all sources of capital and banking service
providers.
Purpose: To outline operational banking and investment procedures and maintaining
positive relations with the company's selected financial institutions.

Scope: This procedure applies to all banking activities of the company.
Definitions: Imprest fund – (1) Available money of a designated amount maintained in
order to pay for small, routine operating expenses of a business or other
organization; also called a "petty cash fund". (2) A loan of government
funds.

Procedure:

1.0 BANKING RELATIONS

1.1 The Chief Financial Officer (CFO) shall be the Company's primary representative
in dealing with financial institutions. The CFO will be responsible for meeting
with personnel of the Company's primary banks on a quarterly basis to provide
consistent financial information reporting and updates on the company's
operations to bank officials.
The CFO will be responsible for promoting a positive working relationship
between the Company and the banks. The CFO will also inform bank officials of
the company's anticipated capital needs or financial service requirements,
providing them with adequate time to understand, approve, and prepare for the
Company's needs.
1.2 The CFO will also perform an ongoing evaluation of banking institutions' abilities
to satisfy the needs of the Company and shall be empowered to make appropriate
changes whenever necessary. Criteria to be used in evaluating banks may include,
but need not be limited to:

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