How often should activity managers make deposits to minimize cash on hand?

Making deposits daily is the best practice for activity managers to minimize cash on hand. This frequency helps to reduce the amount of cash that is physically present, thereby minimizing the risks associated with theft, loss, or mismanagement. Keeping large amounts of cash on hand can create security issues and complicate financial tracking and accountability. Regularly depositing cash ensures that funds are transferred to a secure location and helps maintain accurate financial records.

Choosing to make deposits less frequently, such as weekly, bi-weekly, or monthly, increases the exposure to potential risks and does not align with the best practices for financial management where security and accountability are paramount. Daily deposits allow for a smoother flow of transactions and improve the overall management of finances, ensuring that the activity's funds are secure and easily manageable.