Fiscal Procedures Internal Controls for Accounting

Mail is opened by the Vice Chair of the Board of Directors.

Cash Receipts:
The Vice Char stamps any check received with endorsement. Checks and cash received are recorded on a deposit slip. A copy of the deposit slip is made along with copies of all checks. The copy of the deposit slip, copies of checks, and any paperwork received with checks or cash are forwarded to the Executive Director. The CPRC Project Director brings deposits to the bank and returns deposit slip/receipt to Executive Director. The Executive Director verifies that the deposit slip received from the Vice Chair matches deposit receipt received from the CPRC Project Director. Executive Director matches paperwork received to checks listed and then enters cash receipts on a computerized accounting system, which is currently QuickBooks.

Disbursements
After opening the mail, Vice Chair forwards invoices related to the CPRC grant to the CPRC Project Director for project approval and authorization to pay. Invoices related to general Small Center activities are forwarded to the Executive Director. If Vice Chair does not know who should receive the invoice, it is forwarded to the Executive Director for determination. Once approved and authorized for payment, the CPRC Project Director will forward to Executive Director. The Executive Director enters the invoice into the accounting system and writes the check. Staff may request reimbursement for approved purchases made with personal funds by attaching the receipt to a check request form. Receipts for purchases made on the Small Center credit card are to be given to the Executive Director immediately after the purchase. Staff will write what the purchase was for and project name on the receipt.

Purchasing
Purchases of products and office supplies for each project are ordered and approved by the Project Director. Publications are ordered and approved by each Project Director. Supplies over two hundred dollars ($200.00) are ordered by each Project Director upon approval by the Executive Director. Furniture (tables, files, desks, etc) are ordered by designated staff, upon approval by the Executive Director.

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For items costing more than $5,000, staff will document price comparisons and reason for selection of the vendor.

Check Writing
Checks are processed by a computerized accounts payable software system, which is QuickBooks. They are handwritten by the Executive Director. The Project Director ????? and one of the two other designated signers, currently the Board Chair or Vice Chair, signs checks. Checks are mailed by Vice Chair or designee, payroll checks are hand delivered by the Vice Chair.

Account Reconciliation and Reports

Monthly, the contract accountant opens the bank statements, reviews all statements and returned checks, and reconciles the bank account. This accountant provides a Balance Sheet, Profit and Loss Statement, and Transaction Report to the Treasurer, Executive Director and Project Director each month. There reports are provided to the Board of Directors quarterly. An auditor will review the organizations financial statement annually and report to the Board of Directors.

Federal Grant Drawdowns

Federal Grant Drawdowns are done as needed but at a minimum, three days prior to payroll. Drawdown amounts are determined by listing expenses to be paid from the drawdown plus payroll and benefits. The CPRC Project Director requests funds based on information received from Executive Director and knowledge of any anticipated immediate expenses. After checks are written (within three days), the Executive Director provides the CPRC Project Director with a transaction report as justification of drawdown amount.

Payroll
Time allocations for staff are budgeted based on grants and other programs. The time allocations are provided to staff who are responsible for working as allocated. Employees are paid bi-weekly every other Wednesday. The pay period is 14 days beginning Sunday and ending Saturday. Employees are required to fill out a time sheet for the two week pay period and turn in time sheets no later than noon on the Friday of the second week with the exception of holidays when they need to be turned in earlier. If an employee does not turn in their time sheet or notify their Supervisor of their hours worked, the employee will be paid for their regularly scheduled hours. Any adjustments will be made the following pay period. The Executive Director and Project Directors tally part-time hours based on timesheets and salaried hours based on approved work percentages. Total hours and gross pay is calculated. Deductions and tax filings are prepared by the accountant. Necessary information is filed electronically (hours, employee rate, totals, deductions, etc.) by the accountant. Checks and summaries are reviewed and reconciled by the Executive Director. When deemed correct, all checks are written and forwarded to authorized signers.

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Financial Records
All financial files and records, credit card information, and checks are kept in a secure location in the Executive Directors office. The CPRC Project Director will maintain records on Drawdowns, grant budgets, financial correspondence with OSEP, and other information relevant to the grant.

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