Management of Personal Funds (2018)

Management of Personal Funds

Individual Centered Philosophy

Managing personal funds places a great deal of responsibility on staff to ensure that those funds are handled appropriately. The following rules, procedures and guidelines form a system of safeguards to protect funds from potential mismanagement. They do not eliminate the need for meeting another responsibility; that of providing training to all individuals served by Region V Services (RVS) to achieve maximum independence.

It is expected that all individuals supported will participate in their financial affairs to the maximum extent of their abilities. Individuals should be involved in developing independent skills in their financial matters including such things as signing and writing checks, managing petty cash, making deposits and withdrawals, having money on their person and making choices. These expectations are naturally individualized, based on the skills of the people we support. Staff must always search for ways to teach another step towards independence, thereby providing a better quality of life. This may be as simple as having the staff person accompany an individual to the bank, making their mark on a check for their "signature",  making a purchase independently or balancing their checkbook.

Records for Equal Protection

These Procedures are designed to allow maximum involvement for the individual while offering protection against misuse of their funds. They are also designed to leave a documentation "trail" which will protect staff from accusations of wrongful management.