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  • 1.

    The Executive Director will carefully review each award and contract to ensure compliance with all financial and programmatic provisions. The ____________ (staff position) will maintain originals of all grants and contracts in a file. The Consulting Accountant will prepare initial entries as appropriate to record each award.

  • 2.

    The ______________ (staff position) will prepare and maintain on a current basis a Grant/Contract Summary form for each grant or contract awarded to _____________ (organization). This form shall include the name, address, contact person, and phone number for the funding organization; the time period applicable to expenditures; all significant covenants (such as bonding or liability insurance requirements) and restrictions on expenditures; all require financial and program report and due dates; and the chart of accounts line item number for the revenue deposited.

3.

Payments for projects for which _____________ (organization serves as fiscal agent shall be paid out within one week.

  • 4.

    The Consulting Accountant will prepare financial reports to funding sources as required.

  • 5.

    The Executive Director will review and approve all reports to funding sources.

  • 6.

    It will be the responsibility of the Executive Director to insure that all financial reports are

submitted on a timely basis.

XIV.

BUDGETS

1.

The Executive Director and the financial budget.

_______________(staff position) will prepare the

2.

The

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ( s t a f f p o s i t i o n ) w i l l i n s u r e t h a t b u d g e t s a r e o n f i l e .

3.

The Board of Directors must approve proposed changes in the budget, should they exceed $______ or _______% of the line item, whichever is greater.

  • XV.

    LOANS

    • 1.

      The Board of Directors will approve loans.

    • 2.

      A promissory note will be prepared and signed by the Board Chair and another officer

of the Board before funds are borrowed.

10

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