Personal Funds Training

Contents
In tr odu cti on 1

Op ening a c hec king /s avin gs a cc oun t 2

Che cking/ Saving s R egi st er 3

Sample register 4

Using t he P er sonal F un ds Ac co unt abil it y S heet

5
Sample PFA sheet 6

Clo sing /T ra ns fe rring a c he cking/ saving s a cco un t

7

Gui deline s f or h andling p ersonal fun ds 8-10

Overdrafts 8
ATM/Debit Cards 8
Receipts 9
Cash 9
Establishment Funds 11
Clothing 11
Medical Expenses 11
Bios Corporation
Personal Funds

In-S er vice an d R espon sibil it y 12

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Bios Corporation
Personal Funds
Introduction

As we assist people in becoming as independent as possible in the community,

you have the privilege and responsibility of assisting them in managing their money,
ensuring record keeping for all funds are accurate and up to date and protecting them
from financial exploitation.

On behalf of the people you serve, you will accomplish the following:

1) Help the individual learn to responsibly manage his/her money.

2) Safeguard and protect the individual’s funds from theft and exploitation.

3) Ensure the individual’s choices are known and respected.

4) Provide documentation for how money was handled. Your documentation will be
reviewed by DMRS and the Social Security Administration. If documentation is
lacking, Bios will be cited and ordered to repay funds.

Your assistance with personal funds is very important to the individual and to Bios. The
management of personal funds should be in accordance with reaching the individual’s
goals. Goals are determined by the individual and his/her team. In managing personal
funds you should observe the guidelines that follow and you should not hesitate to ask
any questions that may arise as you carry out your responsibilities.

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Bios Corporation
Personal Funds
Opening a checking/savings account

1) When setting up a new account, please use the individual’s name only on the
account. Do not add care of Bios, Bios for, or Representative Payee. The
account you are setting up belongs to the individual and should be represented as
such. On the bank statements and on the checks, only the individual’s name
should appear; just as your name appears on your account.

2) Please have 4 check signers on each account. The check signors should include a
representative of Bios Administration, House Supervisor, and the individual when
possible. If it is not possible for the individual to sign his/her own checks, then
having only 3 check signors is acceptable. Please note that a team may choose for
a parent, guardian or family member to be a signor or an account and this is
acceptable also.

3) Please have the bank send statements to the individual’s home:

A copy of the bank statement should be mailed or delivered to the corporate office
by the House Supervisor or other designated employee for reconciling purposes.

4) If there are monthly fees, please be sure that the individual is aware of these,
agrees to them and can afford them.

5) We should encourage the use of duplicate checks if the cancelled checks are not
returned with the statement.

6) Please be sure to consider and document the individual’s wants and needs when
choosing a bank, determining account type, etc. Before opening an account, you
should have the individual and the team or Bios Administrator approve the
selected bank and type of account.

7) When an account is opened, copies of opening information should be sent to the

Personal Funds Coordinator to file in the individual’s personal funds folder.

8) If a check signor (other than the individual) leaves Bios or no longer assists
the individual, his/her name should be removed immediately from the
account. When there are changes in check signors, please notify the Personal
Funds Coordinator via an e-mail to amendment@bioscorpok.com.

9) Program Coordinator should use the Individual Amendment form attached to an

e-mail to; amendment@bioscorpok.com to notify all departments of the changes
in financial information.

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Bios Corporation
Personal Funds
Checking/Savings Register

1) A register must be kept for every checking and/or savings account. This is
part of our required documentation. The register tells us the balance you
believe is in the account. The Personal Funds Coordinator reconciles the
balance from the check register/bank book to the balance of the bank
statement monthly. This procedure finds any error or omissions that may have
occurred at the bank or on the register.

2) The following should be recorded in the register (bank book) for each
transaction:

1. Check number
2. Date check was written
3. Payee (to whom the check was written)
4. Brief description of what check was for
5. Amount

(Please see the example register on page 4)

3) On the register, please record the following for deposits:

1. Deposit date –
2. Who deposit was from:
Examples:
A. Spotless Cleaners – wages 10/15/01 - #2036
B. Bios 10% money, 10/01 – 48726
3. Amount

4) On the check register/bank book please record the following for cash
withdraws:

1. Date of withdrawal
2. Cash
3. Brief description of why cash was withdrawn
4. Amount

5) You must keep a running balance in the account register (bank book).

6) It is mandatory to maintain a balance at all times that is sufficient to cover all

checks written and any bank fees. If there are overdrafts due to your
assistance or lack of monitoring, you will be required to reimburse the
individual for all resulting charges.

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Bios Corporation
Personal Funds

Single Line Method

Deposit or
Check Check or Debit (-) Credit (+) Balance
Number Date Issued To Amount Amount Forward
Issued For

213.00
5051 6/22/0 Ann’s Flowers – Mom 20.50 192.50
4
ATM 6/22/0 Cash/Spending Money 20.00 172.50
4
DEP 6/25/0 Spotless Cleaners 117.43 289.93
4 Wages #2036 – 10/15/01
5052 6/25/0 Wal-Mart – Disney Video’s 19.80 270.13
4
5053 6/25/0 Ranch Acres Vet – Flea Pills 26.95
4
5054 6/25/0 Big Lots – Christmas Cards 5.14 238.04
4
Dep 6/26/0 10% - Spotless Cleaners 6/04 #156809, 3186 206.89
4 6/20/04
444.93

Double Line Method

Deposit or
Check Number Check or Debit (-) Credit (+) Balance
Date Issued To Amount Amount Forward
Issued For

213.00
5051 6/22/04 Ann’s Flowers 20.50 192.50
Mom’s birthday
ATM 6/22/04 Cash 20.00 172.50
Spending Money
DEP 6/25/04 Employment – Spotless 117.43 289.93
Cleaners 10/15/01 #2036

5052 6/25/04 Wal-Mart 19.80 270.13

3 Disney Videos
5053 6/25/04 Ranch Acres Vet Clinic 26.95 243.18
Flea pills/dog
5054 6/26/04 Big Lots 5.14 238.04
Christmas cards

Dep 6/26/04 10% - Spotless Cleaners 206.89 444.9.3

6/04 #156809, 6/20/04

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Bios Corporation
Personal Funds
Using the Personal Funds Accountability Sheet

1) The Personal Funds Accountability sheet is a way of tracking cash. It may be

use when a check(s) is/are cashed and not deposited into the bank account, or
when cash is received from a deposit. (For class members, 15% of unearned
income should be available to the individual as cash at all times.) For
example, if the individual does not want a checking account and he/she
receives a paycheck, then the Personal Funds Accountability sheet should be
used. The Personal Funds Accountability sheet provides documentation for
cash spent for the individual who does not have a checking or savings account
is or who cashes a check, instead of depositing the check into his/her checking
account.

2) Please list the date of purchase, receipt number, amount received, and a brief
description of the item(s) purchased. Please keep a running balance of the
amount of cash on hand. (Please see the example sheet on page)

3) Receipts must be kept for all purchases. The staff assisting with the
purchase should initial the receipt and number the receipt with a number
matching that on the Personal Funds Accountability sheet or on the
register.

4) Completed Personal Funds Accountability Sheet and receipts must be turned

in to the Program Coordinator by the 1st of each month. Program Coordinator
will review and mail so the Personal Funds Coordinator receives it by the 10th
o f the month. Begin a new sheet for each month, carrying forward any
remaining balance.

5) When changing shifts, an entry should be made to transfer accountability of

the personal funds cash. Both the staff signing out and the staff signing in
should sign this entry. Please see example on the next page.

6) Each staff member on shift who is responsible for handling an individual’s

money or helps an individual handle money, will be responsible to pay back
money if receipts and/or cash does not add up to the amount of money left in
house or for any employment check, MR Housing check or miscellaneous
checks cashed.

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Bios Corporation
Personal Funds
BIOS Corporation Personal Funds Accountability

Individual Name: Date:

Date Receipt # Amount Balance Individual’s Choice of expenses Person

rec’d/spent responsible
5/1 75.00 Balance forward from 04/30/04 John Smith
5/5 3075 40.00 115.00 Cash Spotless Cleaners 5/5/04 John Smith
#3075
5/5 1 20.00 95.00 Cash – Spending money - Signed John Smith
receipts
5/11 2 10.00 85.00 Al’s Barber Shop John Smith
5/15 3 20.00 65.00 Cash – Spending money Jane White
5/15 65.00 Transfer accountability Jane White
5/22 Signed 65.00 00.0 Transfer accountability John Smith
Off

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Bios Corporation
Personal Funds
Closing/Transferring a checking/savings account

Closing When assisting an individual in closing his/her checking/savings

account, please provide documentation to the Personal Funds
Coordinator for the individual’s personal funds file. The
documentation should include the following:
1. Final bank statement (showing $0.00 balance) from
closed account
2. Receipts if remaining money was withdrawn and spent
3. Deposit information if remaining money was redeposit
in a New/different account.
4. Contact report explaining why account was closed.

Termination When an individual terminates services with Bios, PC and staff

should transfer his/her account to another agent designated by the
team. To transfer an account, you will need to:

a) Close the bank account and obtain cashier’s check to

the individual for the balance.
b) Cashier’s check should be turned over to the receiving
agency and the receiving agency should sign that they
received the money.
c) Copy of team meeting minutes from the transition
meeting is then sent to the Personal Funds Coordinator
d) Turn in documentation (as listed on the monthly
envelope) through the date of the transition to the new
agent to the Personal Funds Coordinator
e) Bios must turn over final reconciliation to the new
provider and the ISC within 30 days of account closure.

Bios PC and Staff’s responsibility for assisting in the management

of personal funds does not end until the individual has successfully
transitioned to the new agent and the new agency has accepted
responsibility.

Staff Changes If any staff that is a check signor on the individual’s bank account
leaves or no longer assists the individual, their name should be
removed immediately (within two working days) from the bank
account. This should be reported to the personal funds coordinator
via an e-mail to amendment@bioscorpok.com.

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Bios Corporation
Personal Funds
Guidelines for handling personal funds

General

1) Unless clearly outlined in the ISP and Bios Contract for Services, individuals
should not pay for gasoline, car wash or maintenance on autos.
2) If option 2 is selected on the “Personal Funds Agreement” and the guardian is
receiving personal money, the guardian must be required to report to the court
annually concerning finances. If finances have been excluded from guardianship,
then option 2 can be selected only if the guardian agrees to turn all information in
on a monthly basis. Personal Funds envelopes (which list information to turn in)
can be provided to guardians.
3) Anytime check numbers are not consecutive in the check register, a written
explanation (Contact Report) should be provided to the Personal Funds
Coordinator.
4) Provide written explanation (Contact Report) for any odd transactions. An
example of an odd transaction would be a receipt reading “check tendered”, but
you paid with cash. Another example would be a receipt dated November and a
check written in December.
5) Please use the personal funds envelope provided to you and turn information in
monthly.

Overdrafts
If you are assisting an individual with managing his/her personal funds, their
account should never be overdrawn. Overdraft fees will be recouped from the
employee on shift at the time of the overdraft via payroll deduction.

If the individual has a history of making choices that result in overdrafts, then you
should notify the team so they can address these decisions with the individual. A
record of strategies should be filed with the Personal Funds Coordinator. You
should be aware of the strategies and follow them when appropriate.

You will be required to reimburse the individual for any overdrafts caused by
mismanagement.

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Bios Corporation
Personal Funds
Guidelines for handling personal funds (cont.)

Receipts
1) Receipts should have the following:
a. Store name
b. Date of transaction
c. Description of items purchased
d. Amount

2) Receipts written on napkins or other unofficial paper will not be accepted.

3) Write the check # on every receipt for bank account, or number receipts starting
with #1 if cash accountability sheet

4) Staff on shift should have to initial all receipts for money spent by the individual.

5) If duplicate checks are used, staple the receipt to the copy at the time of purchase
to make sure the receipt is not lost.

6) Please do not glue receipts to paper. Clear tape should be used to secure all sides
of receipts to pages of the personal funds book. This prevents the receipts from
being ripped when they are photocopied corporate record.

Cash
Large sums of cash should be avoided to protect from loss or theft. Recurring
cash withdraws and one time cash withdraws should be discussed with the team
before withdrawal. Team minutes concerning cash withdrawal are to be sent to
the Personal Funds Coordinator.

When an individual receives an amount of cash that he/she does not have to keep
receipts for, the staff that gives the cash to the individual has the individual to sign
a house receipt showing the money was given to him/her. Individuals who
receive walking money, pocket money, daily money, spending money, or money
for lunch at work. If an individual has a history of not agreeing to sign for the
cash he/she receives, then the staff should ask the team to address the decision in
team minutes.

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Bios Corporation
Personal Funds
Guidelines for handling personal funds (cont.)

Establishment Funds
Personal funds can be used in conjunction with establishment funds.
Establishment money should be used first. If both are used to make a purchase,
there should be one invoice for the entire amount. Team minutes or a letter from
the case manager should state the amount to be paid by each. Separate checks
should be written to the store; one from the individual’s account and one from
Bios out of property replacement.

Clothing
Clothing can be purchased with personal funds.

Medical expenses
The majority of the people Bios provide services to be eligible for medical
coverage through Medicare/Medicaid/TN Care/CSN. Please have individual
present his/her medical card, each time when visiting the doctor and dentist. Most
prescriptions can be billed by the pharmacy directly to the State. Medical
supplies, if they are added to the plan of care, should be billed directly to the State
by the medical supplier. Please determine billing arrangements beforehand, if you
do not know, speak with your team.

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Bios Corporation
Personal Funds

In-service and Responsibility Individual’s Name(s)

Date:

Employee Name:

I, the above named employee of Bios, have been in-serviced as of the above date
concerning the management of individuals’ personal funds. I understand that I am
responsible for the management and documentation of the personal funds for
individual that I assist. I have been given the opportunity today to ask any
questions I have concerning my responsibilities. I am encouraged to ask
questions at anytime while I am assisting in the management of personal funds.

I understand that the management of personal monies should be in accordance

with reaching the individual’s goals. Goals are determined by the individual and
his/her team. In managing personal funds, I will observe the guidelines that were
presented to me today. I understand that I will be held financially accountable via
payroll deduction if there is any mismanagement of the personal funds that I assist
with.

Employee signature: Date:

(please print)

In-Service presented by: (please print)

(please sign) Date:

White: Personal Funds Coordinator

Yellow: Individual’s Book
Pink: Employee

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