Purpose: This guidance establishes requirements for grantees that use cash to pay BCYF-funded participant stipends. The goal is to ensure compliance with BCYF standards and maintain appropriate internal controls.
Whenever possible, grantees should avoid cash payments and instead use check, ACH, or credit card. Cash payments are permitted only when no other reasonable payment method is available and may only be used for participant stipends. Cash may not be used for any other type of grant-related expense submission.
Documentation Requirements:
For each stipend paid in cash, grantees must provide the following documentation with their grant expense report:
Cash Disbursement Log that includes:
Date of payment
Amount
Participant name
Purpose/description of expense
Signature of staff member who disbursed
Signature of participant who received cash
Proof of Cash Withdrawal
Copy of the bank statement or withdrawal slip that corresponds to the cash used for stipend payments
If you have any questions about cash payments for participant stipends, please contact compliance@bcyfund.org.