Essential Tools for Effective Payable Policies and Procedures in the Treasury Department

Governments make payments every day through a variety of avenues, including ACH, checks, wire transfers, p-cards, cash, and other methods. It is critical that governments have appropriate policies and procedures in place to ensure timely payments, maintain necessary government operations, and prevent against internal and external fraud instances.

This course will assist finance officers with developing, reviewing, and updating their policies and procedures related to payables. Key components of the training will include:

• Overview of payable methods typically used by governments
• Benefits and risks of utilizing electronic payments, cash payments, and check payments
• Expanding options available for making electronic payments
• Third-party relationships required to make payments (banks, payment providers, etc.)
• Tracking payments internally and the associated software needs
• Internal controls required to prevent internal and external fraud
• Timely reconciliation and recordkeeping

Who Will Benefit: CFO/Finance Director, Treasurer, Controller, Department Director

• Review the core payables function in the Treasury Office
• Learn recommended policies and procedures
• Identify fraud hazards from multiple sources and ways to prevent fraud
• Understand the opportunities and responsibilities with any external relationships used to assist with a government’s payables function