Financial Management

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Financial Management"

Transcription

1 Financial Management Overview Proper financial management is essential to the community transportation organization. Financial management activities involve daily tasks such as maintaining current accounting records, handling cash, and managing accounts receivable. This functional area also involves preparing budgets, developing cost allocation plans, and other activities that occur on an annual basis. Furthermore, some activities are performed only periodically such as developing service cost and pricing proposals, and preparing long-range financial forecasts. Each of the following subjects is discussed in more detail in this section of the manual. Accounting Procedures and Practices Cash Management Cost Allocation Performance Evaluation Budgeting Financial Reports Funding Regulations Audits Business Plan Accounting Procedures and Practices All community transportation organizations must use generally accepted accounting principles (GAAP) to guide financial management and reporting for their transit systems. Community transportation managers rely on trained accounting personnel to carry out the day-to-day accounting and record-keeping functions for their organization and therefore do not need to know the details of bookkeeping procedures. Managers, however, do need to understand the special requirements funding agencies place on local governments and nonprofit organizations. These requirements are contained in the federal Office of Management and Budget (OMB) circulars. Links to the current versions of OMB Circulars 87 and 122, the ones most directly

2 applicable to governmental and nonprofit transportation operations, are included in the links and resources for this section. In addition, specific funding program regulations and guidelines will also influence the accounting practices of community transportation systems, especially as related to line item accounts to be reported, treatment of in-kind and capital expenditures, and operating statistics that accompany financial accounting reports. More information on general accounting terminology and practices can be found in Chapter 10 of the MTAP workbook, Comprehensive Financial Management Guidelines for Rural and Small Urban Public Transportation Providers. (PDF, 3187K) Cash Management Cash management is the process of assuring effective collection, deposit and disbursement of cash and other income to maximize the amount of cash and cash availability. Good cash management practices are particularly important to community transit systems since they are typically small organizations with limited working capital. Further, many transportation funding programs are of the reimbursement type, i.e., they only reimburse for expenses after the expenses are incurred. Since a delay in receiving funds of 60 to 90 days is not uncommon, good cash management is essential to insure a system s ability to pay employees and vendors on time. Symptoms of poor cash management practices include an inability to execute planned operations such as inventory purchases, retirement of debt, acquisition of capital equipment, frequent unexpected cash shortages, frequent and unexpected over-withdrawals of bank accounts, and repeated sporadic short-term borrowings to meet obligations. Other cash management problems include excessive accounts receivables collection time and unnecessary delays in availability of deposited funds.

3 There are five key elements of most effective cash management systems. These elements include: cash flow management excess cash investment cash flow forecasting daily cash reports bank selection and credit establishment More information about each of these five key elements can be found in Chapter 7 of the MTAP workbook, Comprehensive Financial Management Guidelines for Rural and Small Urban Public Transportation Providers. (PDF, 3479K) Cost Allocation Community transit systems, especially coordinated systems, are constantly faced with the issue of determining how much a specific service costs so that funding agencies pay their fair share of the total costs. Similarly, transit systems need cost information to set fares, evaluate new service proposals, and to develop performance indicators. Another use of cost information is to compare competitive service bids. All of these costing needs require a cost allocation model to determine the operating cost of a particular route, service, or services to a specific rider group. A two-variable cost model that allocates operating costs based on the number of vehicle miles and vehicle hours required to provide a service is the most common approach used for community transit systems. A step-by-step example of how to construct this model is contained in the PowerPoint presentation that was used as part of a recent training program and can be accessed via the following link: (PDF, 141K) Additional discussion of cost allocation procedures and issues is included in the Kansas RTAP

4 program bulletin including in the links section and in Chapter 12 of the MTAP Financial Management report. Performance Evaluation Performance evaluation is the process of quantifying the goals and objectives of a transit system to evaluate results of policies and program decisions. It is also a way to manage a system by tracking key performance statistics related to program goals. Furthermore, for publicly funded programs, it is a way to communicate to employees, the public, and funding agencies. Community transit managers will benefit by having an ongoing performance monitoring process to help them make better management decisions, and to enable them to communicate with their policy boards and the general public. Managers and their policy boards sometimes avoid keeping and reporting performance measures because they believe that it takes too many resources to collect the necessary data, and, in some cases, because they are afraid that they will not like the results. However, a simple performance-measurement scheme is neither prohibitively difficult nor expensive to implement, and if used properly it will improve the system and the credibility of the management and policy board. The key to a simple but effective performance evaluation process is to identify a few (probably fewer than 10) key indicators directly related to the goals and objectives of the transit system and then track these indicators over time for the system. Periodic peer group comparison of data with other similar systems will also help the manager and board gauge the efficiency and effectiveness of the services being provided.

5 More detailed information on how to develop a performance evaluation framework can be found in a number of sources including: Rural Transit Performance Measurement, CTAA, And a PowerPoint presentation that accompanied a recent training program (PDF, 139K) Budgeting Budgeting is often thought to be a very dull subject that is left to the folks with green eye shades and garters. In reality, a budget is a crucial document for both setting policy and managing a public transportation program. As one expert has said, a budget is a series of goals with price tags attached. Put another way, a transit agency s annual operating budget is the embodiment of and summary of its operating plan. It is also the annual element of its longer-term strategic vision and plan. Budgets authorize programs and provide financial data for evaluating performance of systems. They also are highly political weapons that permit elected and appointed officials to punish opponents and reward supporters. (adapted from Managing Public Transit Strategically, by Gordon Fielding) Funding agencies nearly always require annual (and perhaps 3-year future estimate) budgets as a condition of funding. Further, public agencies and most non-profit providers will also use budgets to set goals and control expenses. The budget process is an excellent way to communicate among funding agencies, policymakers, management, and users of the transit service. Three budgeting strategies can be used to construct budgets, incremental (the most commonly used approach), zero-based, and cross-functional analysis. Incremental budgeting is the most common approach whereby line items are adjusted from one period to the next based on proposed changes in service or estimates of changes in costs or revenue. This process begins by assuming a level of service and then estimating the level of each line item in the budget based on

6 the number of units to be consumed multiplied by the cost of each unit. Revenue is forecast based on ridership estimates (usually past trends projected into the future) and fare levels. Zero-based budgeting is not common in transit and the term is somewhat of a misnomer. Budgets are not assumed to be zero before starting the process as the name implies. Rather, the budget analyst assumes budget estimates of say 90, 100, and 110 percent of current levels and then estimates the level of service and performance that can be achieved. Cross-functional analysis, while desirable because it allows evaluation of the impacts of budget changes in one area (say maintenance), on other parts of the organization, is seldom used in small transit organizations, but could be considered as a refinement of the basic incremental approach. Budgets are usually prepared three to six months before the start of the fiscal year for which they are developed. Since most budgets are incremental, the standard approach to preparing a budget is to first project out the current fiscal year based on six or nine months of actual expenditures and then prepare a budget document that shows at least the present fiscal year budget, estimated actual expenses and revenue to the end of the fiscal year and then the budget for the upcoming year. Once a budget is adopted, it becomes the basis for monitoring the financial condition of the transit system. Ideally, monthly income and expense statements should be prepared and reviewed by the policy board and management. Funding agencies will usually require quarterly, or at the very least, annual budget reports on actual results. An example budget and financial report for a small public transit agency can be reviewed via the following link to an Excel spreadsheet: (Excel, 24K)

7 More information on general accounting terminology and practices can be found in Chapter 5 of the MTAP workbook, Comprehensive Financial Management Guidelines for Rural and Small Urban Public Transportation Providers. (PDF, 8378K) Financial Reports Once a budget is adopted, it becomes the basis for monitoring and reporting the financial condition of the transit system. Ideally, monthly income and expense statements should be prepared and reviewed by the policy board and management. Funding agencies will usually require quarterly, or at the very least, annual budget reports on actual results. An example budget and financial report for a small public transit agency can be reviewed via the following link to an Excel spreadsheet: (Excel, 24K) The monthly financial report showing actual revenue and expenditures by line item should be accompanied by written or verbal explanation of variances. As shown in the example financial report, a column reporting percentage of budget is included. If, as in the example spreadsheet, the monthly report includes all 12 months included in the budget, then it would be reasonable to expect that the percentage of actual to budget should be 100 percent; however, if the report is for just the first two months of the year, only two twelfths (16.6 percent) of the revenue or expense line item should be expected. An explanation for each line item that is more than, say, 20 percent, above or below budget should be offered to help decision and policymakers understand the true financial condition of the system. In addition to the income statement that includes a variance analysis, regular reporting of key operating and performance indicators will help management, policymakers, funding agency personnel and users better understand the condition of the transit system. Time series tables and graphs that track key financial and performance indicators will assist in this communications process.

8 Funding Regulations All public transportation organizations need to follow generally accepted accounting principles and institute sound business practices to manage the finances of their organization. In addition, each organization must be cognizant of the specific policies and regulations imposed by funding agencies. These program-specific policies will include rules on: line item detail to be kept and reported (including definition of cost terms specific operating data that must be kept and reported including operating data and information about riders (clients), their characteristics, eligibility, and trip characteristics acceptability of in-kind matching of funds and methods to account for in-kind services financial record retention requirements audit requirements cash management practices Audits An audit is a series of procedures performed on select transactions, account balances, and internal control features of an accounting system. An audit must be performed under the supervision of a Certified Public Accountant. The end result of an audit will be an opinion by the audit on the fairness of the financial statements. The audit does not certify that the statements are correct or accurate. Instead, the opinion states that the financial statements present fairly, in all material respects, the financial position of the organization. Further, management is required to provide much of the information used in the audit so that the auditor includes this qualification in the final opinion.

9 Not all transportation programs require formal audits, though most programs that receive state and federal funds do require a periodic audit either by the funding agency or the transportation organization. Banks may also require audits as a condition of extending credit. Each funding agency that provides support to a transportation organization may require an audit, though most are willing to accept an audit performed in accordance with OMB Circular A-133 that describes procedures for implementing the Single Audit Act of 1994 as amended More detail on audits, how to select an auditor, how to prepare for an audit, and how to use the results of an audit are contained in Chapter 9 of the MTAP workbook, Comprehensive Financial Management Guidelines for Rural and Small Urban Public Transportation Providers. (PDF, 3442K) Business Plan Development of a short range transit plan is an essential part of the transit development activity described in the first section of this guide. The typical short range plan includes an analysis of existing trends and conditions and recommendations for future service and management initiatives. In the past few years the typical short range transit plan has taken on a new focus on guiding operations and is most commonly called a business plan. The change in name reflects the new emphasis on the financial and organizational resources required to implement the plan. A typical outline of a business plan is as follows: 1. Introduction and scope a. The nature and purpose of the business plan b. Brief history of the transit system c. Financial and operating trends over past 3-4 years d. Overview of rest of plan 2. Description of system s organization and governance a. Legal structure and purpose b. Make up of board and suggested changes c. The role of the agency in the region

10 d. The organization chart for the system from board to drivers e. Evaluation of current governance and organizational structure 3. Market for public transportation in the system s service area a. Demographic info on counties and cities within service area including population, age distribution, disabled, low income, auto ownership and other factors along with past and future trend projections b. Estimate of current ridership by area c. Per capita projections of possible ridership levels as service is developed 4. Description of existing services and facilities a. Description of current services b. Description of fuctional areas of operation: 1. Call taking/dispatching 2. Maintenance 3. Personnel 4. Management information systems (client records, ridership and operating data) 5. Accounting/finance c. Description of vehicles 1. Vehicle roster 2. General assessment of condition d. Description of maintenance/administrative facilities e. Performance evaluation using a few key measures 1. Time series for system 2. Peer group comparison with other systems 5. System mission, vision, goals and specific objectives to guide next 5 years a. A vision for the system and its relationship to regional goals b. Transit-specific objectives the results of which can be measured c. Specific performance measures and future goals 6. Discussion of future expansion/service options a. Description of options (e.g. more rural commuter routes, more rural services, etc) b. Quantification of the miles, hours required to implement each possible improvement, a ridership forecast, then estimate capital and operating costs for each

11 c. Some ranking of the relative priority for each improvement and timing of implementation 7. Proposed short-term performance objectives for each of the next 3-5 years 8. Capital improvement plan (capital budget) for 5 years ( ) a. Vehicle replacement needs and timing b. Vehicles for expansion c. Facilities expansion d. Computers, information systems, maintenance equipment, other small capital items 9. Operating budget and plan for next 5 years a. Operating revenue, expense, and deficit projections for 5 years for base service and proposed expansions b. Analysis of income options for state, federal and local match c. Proposed changes in staffing levels or other management changes needed to support future services. 10. Recommendation for on-going performance monitoring and future updating of plan a. Suggested performance measures b. Suggested information systems to track performance c. Possible triggers to suggest plan update While the business plan is primarily a planning activity, the later sections of the plan, specifically sections 5-9, relate directly to financial management activities of budgeting and performance evaluation. The goals, objectives and performance measures developed as part of the business plan will provide the basis for the ongoing performance reporting that should be a part of a community transportation operation. Further, the capital and operating budget projections can guide annual budget preparation. An example of a business plan from a Canadian system, Central Fraser Valley Transit, can be accessed at the following website:

12 Resources & Links The following Internet website/resource links were used in preparing this section and serve as resources to expand on the information and concepts presented: McGlynn, Janet, Non-Traditional Funds for Community Transportation, Community Transportation, January/February 1999, (Accessed March, 2005) This article identifies non-transportation funding sources that can be accessed to support community transportation and gives examples of how systems have obtained and used these funds. OMB Circular A-87 Cost Principles for State, Local, and Indian Tribal Governments, and OMB Circular A-122 Cost Principles for Non-Profit Organizations These Office of Management and Budget (OMB) documents describe the policies, procedures, and requirements that apply to the cost accounting for governmental and nonprofit transportation programs. Rural Transit Performance Measurement, CTAA, A National RTAP technical assistance document that provides information on setting up a performance evaluation scheme for rural and community transportation programs.

13 Weaver, Patricia, The Art of Cost Allocation, Kansas RTAP Fact Sheet #5, October 2001, (Accessed March, 2005) This article provides a short summary of cost allocation procedures as applied to the Kansas Medicaid transportation program, but it is generally applicable in situations where operators need to set a fee for service (fare). Transit Business Plan for the Fraser Valley, (Accessed March, 2005) This link illustrates a complete business plan for a transit operation in British Columbia. It is probably more complex and extensive than what might be required for a small community transportation operation, but the structure of the report illustrates the key components of a business plan. Financial Management for Transit: A Handbook Final Report, Institute for Urban Transportation Indiana University, Prepared for University Research and Training Program Urban Mass Transportation Administration, 1985, (Accessed March, 2005) This handbook explains the fundamentals of financial management issues for the transit industry. Topics range from financial planning techniques for transit, accounting fundamentals, budgeting, cash control, inventory management and risk management. (202 pages)

14 Additional Resources Comprehensive Financial Management Guidelines for Rural and Small Urban Public Transportation Systems, American Association of State Highway and Transportation Officials, Multi-State Technical Assistance Program, September 21, 1992 Miller, James H., Shared-Ride Paratransit Performance Evaluation Guide, US Department of Transportation, September 1989 (Reprinted by the UMTA Technical Assistance Program (DOT- T-90-10)

Financial Management Guide

Financial Management Guide Financial Management Guide Prepared for: MDT Transit P.O. Box 201001 2960 Prospect Ave Helena MT. 59620-1001 Prepared by: LSC Transportation Consultants, Inc. 516 North Tejon Street Colorado Springs, CO

More information

THE HUD PARTNERSHIP CENTER S CAPACITY BUILDING WORKSHOP SERIES: FINANCIAL MANAGEMENT MODULE

THE HUD PARTNERSHIP CENTER S CAPACITY BUILDING WORKSHOP SERIES: FINANCIAL MANAGEMENT MODULE THE HUD PARTNERSHIP CENTER S CAPACITY BUILDING WORKSHOP SERIES: FINANCIAL MANAGEMENT MODULE U.S. Department of Housing and Urban Development Center for Faith Based and Neighborhood Partnerships Financial

More information

Audit Unit Policy 16 th Revision April 2006. Floyd Blodgett, Education Accounting and Auditing Analyst

Audit Unit Policy 16 th Revision April 2006. Floyd Blodgett, Education Accounting and Auditing Analyst Audit Unit Policy 16 th Revision April 2006 Floyd Blodgett, Education Accounting and Auditing Analyst This document describes the process by which the Vermont Department of Education (VTDOE) conducts its

More information

NHDOT Transit Grants Workshop: FTA Section 5310 Programs: Seniors & Individuals with Disabilities. January 12, 2015

NHDOT Transit Grants Workshop: FTA Section 5310 Programs: Seniors & Individuals with Disabilities. January 12, 2015 NHDOT Transit Grants Workshop: FTA Section 5310 Programs: Seniors & Individuals with Disabilities January 12, 2015 1 Introductions Bureau of Rail & Transit Staff Shelley Winters Bureau Administrator Fred

More information

SAMPLE NPO Fiscal Policies & Procedures

SAMPLE NPO Fiscal Policies & Procedures SAMPLE NPO NOTE: The most important part of developing policies and procedures is that they are discussed and agreed upon within the organization. This template is designed to be used in conjunction with

More information

FINANCIAL MANAGEMENT GUIDE FOR NON-PROFIT ORGANIZATIONS

FINANCIAL MANAGEMENT GUIDE FOR NON-PROFIT ORGANIZATIONS FINANCIAL MANAGEMENT GUIDE FOR NON-PROFIT ORGANIZATIONS NATIONAL ENDOWMENT FOR THE ARTS OFFICE OF INSPECTOR GENERAL SEPTEMBER 2008 Questions about this guide may be directed to the National Endowment for

More information

Accountant (GS-510) Competency Model

Accountant (GS-510) Competency Model Accountant (GS-510) Competency Model [Note: This competency model framework allows for the development of a customized GS-0510 Accountant competency model using competencies suggested by the CFO Council.]

More information

STATE OF MINNESOTA CAPITAL GRANTS MANUAL. A step-by-step guide that describes what grantees need to do to receive state capital grant payments

STATE OF MINNESOTA CAPITAL GRANTS MANUAL. A step-by-step guide that describes what grantees need to do to receive state capital grant payments STATE OF MINNESOTA CAPITAL GRANTS MANUAL A step-by-step guide that describes what grantees need to do to receive state capital grant payments Revised May 2014 The State of Minnesota Capital Grants Manual

More information

Chapter 5 Section 5311 Program Management

Chapter 5 Section 5311 Program Management Overview Outlines formula and notification of 5311 apportionment. Describes accounting, contracting and reporting guidelines. Specifies how to manage the Section 5311 program. A. Section 5311 Apportionment

More information

AUDIT REPORT of DUBOIS AREA SCHOOL DISTRICT. DuBois, Pennsylvania A.U.N. 1-06-17-200-3. For The Year Ended June 30, 2013

AUDIT REPORT of DUBOIS AREA SCHOOL DISTRICT. DuBois, Pennsylvania A.U.N. 1-06-17-200-3. For The Year Ended June 30, 2013 AUDIT REPORT of DUBOIS AREA SCHOOL DISTRICT DuBois, Pennsylvania A.U.N. 1-06-17-200-3 For The Year Ended June 30, 2013-1 - TABLE OF CONTENTS Page Number Independent Auditor's Report 4 Management's Discussion

More information

Example Accounting/Financial Policies

Example Accounting/Financial Policies Example Accounting/Financial Policies TABLE OF CONTENTS INTERNAL CONTROLS... 2 ACCESS TO RECORDS BY MEMBERS... 3 ACCOUNTING COMPUTER FILE BACK-UP PROCEDURE... 3 ACCOUNTING METHOD... 3 AUDIT COMMITTEE...

More information

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a private CPA firm. The document was placed on this web

More information

Standard 6: Financial and Asset Management The land trust manages its finances and assets in a responsible and accountable way.

Standard 6: Financial and Asset Management The land trust manages its finances and assets in a responsible and accountable way. 6A: Annual Budget Practice 6A: Annual Budget The land trust prepares an annual budget that is reviewed and approved by the board, or is consistent with board policy. The budget is based on programs planned

More information

TOWNSHIP OF ROLLAND ISABELLA COUNTY, MICHIGAN AUDITED FINANCIAL STATEMENTS. Fiscal Year Ended March 31, 2010

TOWNSHIP OF ROLLAND ISABELLA COUNTY, MICHIGAN AUDITED FINANCIAL STATEMENTS. Fiscal Year Ended March 31, 2010 ISABELLA COUNTY, MICHIGAN AUDITED FINANCIAL STATEMENTS Fiscal Year Ended TABLE OF CONTENTS Independent Auditor s Report.. 1 FINANCIAL STATEMENTS Government Wide Statement of Net Assets. 2 Government Wide

More information

Chapter VI Fiscal Procedures

Chapter VI Fiscal Procedures Chapter VI Fiscal Procedures VI. Fiscal Procedures 6-2 A. In-house Grant Payment and Federal Reimbursement Voucher Process 6-2 i. Review Process 6-2 Table 11. TSO Sub-grantee and State Agency Claim Review

More information

Community and Public Transportation: Viable Transportation Options for Older Persons

Community and Public Transportation: Viable Transportation Options for Older Persons Community and Public Transportation: Viable Transportation Options for Older Persons Jane Hardin Community Transportation Association of America 1341 G Street, N.W. 10 th Floor Washington, D.C. 20005 Email:

More information

NONPROFIT FINANCIAL MANAGEMENT SELF ASSESSMENT TOOL

NONPROFIT FINANCIAL MANAGEMENT SELF ASSESSMENT TOOL NONPROFIT FINANCIAL MANAGEMENT SELF ASSESSMENT TOOL I. Financial Planning/Budget Systems 1. Organization has a comprehensive annual budget which includes all sources and uses of funds for all aspects of

More information

Project Management Procedures

Project Management Procedures 1201 Main Street, Suite 1600 Columbia, South Carolina 29201 Project Management Procedures Start Up The grant becomes effective upon return of one copy of the grant award executed by the Chief Executive

More information

c. Name of Accounts. All accounts of the Association, shall be in the Association s name.

c. Name of Accounts. All accounts of the Association, shall be in the Association s name. Approved 09/09/13 Financial Policies & Procedures It is the purpose of these financial policies and procedures to provide guidance for all financial activities of Connecticut Junior Soccer Association

More information

Publication No. 140 Revised July 2015. Sample Financial Statements. for a Charter School. in North Carolina

Publication No. 140 Revised July 2015. Sample Financial Statements. for a Charter School. in North Carolina Publication No. 140 Revised July 2015 Sample Financial Statements for a Charter School in North Carolina State and Local Government Finance Division North Carolina Department of State Treasurer 35-H-1

More information

The Environmental Careers Organization Reported Outlays for Five EPA Cooperative Agreements

The Environmental Careers Organization Reported Outlays for Five EPA Cooperative Agreements OFFICE OF INSPECTOR GENERAL Attestation Report Catalyst for Improving the Environment The Environmental Careers Organization Reported Outlays for Five EPA Cooperative Agreements Report No. 2007-4-00065

More information

TOWN OF MANCHESTER, MARYLAND. FINANCIAL STATEMENTS June 30, 2015

TOWN OF MANCHESTER, MARYLAND. FINANCIAL STATEMENTS June 30, 2015 FINANCIAL STATEMENTS TABLE OF CONTENTS PAGE INDEPENDENT AUDITORS REPORT... 1 MANAGEMENT S DISCUSSION AND ANALYSIS... 3 FINANCIAL STATEMENTS... 13 Government wide Financial Statements Statement of Net Position...14

More information

Sheep River Library Policy Manual: Finance Page 1

Sheep River Library Policy Manual: Finance Page 1 SECTION 7: Bylaw: The Sheep River Library Board shall assume meticulous responsibility for the fiduciary management of funds while upholding all financial agreements and reporting requirements to federal,

More information

Executive - Salary Guide

Executive - Salary Guide Salary Guide Executive - Salary Guide Chief Financial Officer $138,000 to $250,000+ Highest ranking financially-oriented position within a company. Responsibilities include overall financial control and

More information

ILLINOIS DEPARTMENT OF HUMAN SERVICES INSTRUCTIONS FOR GRANT REPORT

ILLINOIS DEPARTMENT OF HUMAN SERVICES INSTRUCTIONS FOR GRANT REPORT ILLINOIS DEPARTMENT OF HUMAN SERVICES INSTRUCTIONS FOR GRANT REPORT Page 1 of 2: Grant Report for the period July 1 ST through June 30 TH Enter the agency name and FEIN (Federal Employment Identification

More information

WESTERN NEVADA COLLEGE GRANTS AND CONTRACTS Internal Audit Report July 1, 2010 through September 30, 2011

WESTERN NEVADA COLLEGE GRANTS AND CONTRACTS Internal Audit Report July 1, 2010 through September 30, 2011 WESTERN NEVADA COLLEGE GRANTS AND CONTRACTS Internal Audit Report July 1, 2010 through September 30, 2011 GENERAL OVERVIEW During the audit period, Western Nevada College (WNC) had 33 active sponsored

More information

REGIONAL OFFICE OF EDUCATION #28 BUREAU/HENRY/STARK COUNTIES

REGIONAL OFFICE OF EDUCATION #28 BUREAU/HENRY/STARK COUNTIES REGIONAL OFFICE OF EDUCATION #28 BUREAU/HENRY/STARK COUNTIES FINANCIAL AUDIT (In Accordance with the Single Audit Act and OMB Circular A-133) For the Year Ended: June 30, 2010 Release Date: August 18,

More information

EASTLAND FAIRFIELD CAREER & TECHNICAL SCHOOLS FRANKLIN COUNTY SINGLE AUDIT

EASTLAND FAIRFIELD CAREER & TECHNICAL SCHOOLS FRANKLIN COUNTY SINGLE AUDIT EASTLAND FAIRFIELD CAREER & TECHNICAL SCHOOLS FRANKLIN COUNTY SINGLE AUDIT FOR THE YEAR ENDED JUNE 30, 2014 EASTLAND-FAIRFIELD CAREER AND TECHNICAL SCHOOLS FRANKLIN COUNTY TABLE OF CONTENTS TITLE PAGE

More information

Chief School Business Official [29.110]

Chief School Business Official [29.110] Chief School Business Official [29.110] STANDARD 1 Educational Foundations of Schools The competent chief school business official is knowledgeable about the educational foundations of schools. 1A. is

More information

Accounting Best Practices. Part 3 of 3: Accounting and Budgeting. Surveys Results & Recommended Practices

Accounting Best Practices. Part 3 of 3: Accounting and Budgeting. Surveys Results & Recommended Practices Accounting Best Practices Part 3 of 3: Surveys Results & Recommended Practices December 2014 Table of Contents Click on page number to jump to section Executive Summary 3 Introduction 4 Background 5 Month

More information

AUDIT REPORT OF THE NEBRASKA COMMISSION ON MEXICAN-AMERICANS JULY 1, 1999 THROUGH JUNE 30, 2000

AUDIT REPORT OF THE NEBRASKA COMMISSION ON MEXICAN-AMERICANS JULY 1, 1999 THROUGH JUNE 30, 2000 AUDIT REPORT OF THE NEBRASKA COMMISSION ON MEXICAN-AMERICANS JULY 1, 1999 THROUGH JUNE 30, 2000 TABLE OF CONTENTS Page Background Information Section Background 1 Mission Statement 1 Organizational Chart

More information

GUIDELINES INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS PERFORMING FINANCIAL STATEMENT AUDITS OF STATE AGENCIES

GUIDELINES INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS PERFORMING FINANCIAL STATEMENT AUDITS OF STATE AGENCIES GUIDELINES TO INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS PERFORMING FINANCIAL STATEMENT AUDITS OF STATE AGENCIES STATE AUDITOR Robert R. Peterson 1 GUIDELINES TO CERTIFIED PUBLIC ACCOUNTANTS PERFORMING FINANCIAL

More information

HOPE ACADEMY. 2011-2012 Performance Analysis

HOPE ACADEMY. 2011-2012 Performance Analysis HOPE ACADEMY 2011-2012 Performance Analysis Core Question 2: Is the organization effective and well-run? 2.1. Is the school in sound fiscal health? STANDARD The school presents significant concerns in

More information

SOUTH CAROLINA APPALACHIAN COUNCIL OF GOVERNMENTS AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2012

SOUTH CAROLINA APPALACHIAN COUNCIL OF GOVERNMENTS AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2012 SOUTH CAROLINA APPALACHIAN COUNCIL OF GOVERNMENTS AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2012 SOUTH CAROLINA APPALACHIAN COUNCIL OF GOVERNMENTS AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30,

More information

UNIVERSITY OF NEVADA, RENO PARKING AND TRANSPORTATION SERVICES Internal Audit Report July 1, 2011 through June 30, 2013

UNIVERSITY OF NEVADA, RENO PARKING AND TRANSPORTATION SERVICES Internal Audit Report July 1, 2011 through June 30, 2013 UNIVERSITY OF NEVADA, RENO PARKING AND TRANSPORTATION SERVICES Internal Audit Report July 1, 2011 through June 30, 2013 GENERAL OVERVIEW The University of Nevada, Reno (UNR) Parking and Transportation

More information

CLOSE TO HOME. Non Secure Placement Fiscal Manual. ACS Division of Financial Services Effective July 1, 2012

CLOSE TO HOME. Non Secure Placement Fiscal Manual. ACS Division of Financial Services Effective July 1, 2012 CLOSE TO HOME Non Secure Placement Fiscal Manual ACS Division of Financial Services Effective July 1, 2012 Mayor Michael R. Bloomberg Commissioner Ronald E. Richter CLOSE TO HOME - Non Secure Placement

More information

14.169 COMPREHENSIVE HOUSING COUNSELING (CHC) COMPREHENSIVE HOUSING COUNSELING (CHC)

14.169 COMPREHENSIVE HOUSING COUNSELING (CHC) COMPREHENSIVE HOUSING COUNSELING (CHC) APRIL 2015 14.169 COMPREHENSIVE HOUSING COUNSELING (CHC) COMPREHENSIVE HOUSING COUNSELING (CHC) Federal Awarding Unit: U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT Federal Authorization: Section 106

More information

SPOKANE TRANSIT MANAGER - VANPOOL POSITION DESCRIPTION

SPOKANE TRANSIT MANAGER - VANPOOL POSITION DESCRIPTION SPOKANE TRANSIT MANAGER - VANPOOL POSITION DESCRIPTION NATURE OF WORK Position is responsible for managing the administration of Vanpool Operations, related fleet expansion, Special Use Program and regional

More information

Warren Consolidated Schools. Financial Report with Supplemental Information June 30, 2014

Warren Consolidated Schools. Financial Report with Supplemental Information June 30, 2014 Financial Report with Supplemental Information Contents Independent Auditor's Report 1-3 Management's Discussion and Analysis 4-12 Basic Financial Statements Government-wide Financial Statements: Statement

More information

Atlanta Public Schools. National Science Foundation Award Number ESR-9727644. Financial Schedules. and. Independent Auditors' Reports

Atlanta Public Schools. National Science Foundation Award Number ESR-9727644. Financial Schedules. and. Independent Auditors' Reports Atlanta Public Schools 210 Pryor Street Atlanta, Georgia 30035 National Science Foundation Award Number ESR-9727644 Financial Schedules and Independent Auditors' Reports For the Period September 1, 1998

More information

CITY OF COLEMAN, TEXAS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT SEPTEMBER 30, 2014

CITY OF COLEMAN, TEXAS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT SEPTEMBER 30, 2014 CITY OF COLEMAN, TEXAS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT SEPTEMBER 30, 2014 Becky Roberts, CPA 104 Pine Street, Suite 610 Abilene, Texas 79601 325-665-5239 becky.roberts@rm-cpa.net

More information

City of Mt. Angel. Comprehensive Financial Management Policies

City of Mt. Angel. Comprehensive Financial Management Policies City of Mt. Angel Comprehensive Financial Management Policies May 2014 Table of Contents Section Description Page I. Purpose... 3 II. Objectives... 3 III. Management of Fiscal Policy... 4 IV. Accounting,

More information

FISCAL IMPACT STATEMENT. LS 6779 NOTE PREPARED: Dec 29, 2011 BILL NUMBER: HB 1073

FISCAL IMPACT STATEMENT. LS 6779 NOTE PREPARED: Dec 29, 2011 BILL NUMBER: HB 1073 LEGISLATIVE SERVICES AGENCY OFFICE OF FISCAL AND MANAGEMENT ANALYSIS 200 W. Washington, Suite 301 Indianapolis, IN 46204 (317) 233-0696 http://www.in.gov/legislative FISCAL IMPACT STATEMENT LS 6779 NOTE

More information

LOCAL GOVERNMENT MANAGEMENT ASSESSMENT OVERVIEW AND QUESTIONNAIRE

LOCAL GOVERNMENT MANAGEMENT ASSESSMENT OVERVIEW AND QUESTIONNAIRE LOCAL GOVERNMENT MANAGEMENT ASSESSMENT OVERVIEW AND QUESTIONNAIRE The Comptroller s Economic Development and Analysis (EDA) Division provides education and direct assistance to local governments, helping

More information

Distinguished Budget Presentation Awards Program Government Finance Officers Association. Awards Criteria (and explanations of the Criteria)

Distinguished Budget Presentation Awards Program Government Finance Officers Association. Awards Criteria (and explanations of the Criteria) 1 Distinguished Budget Presentation Awards Program Government Finance Officers Association Awards Criteria (and explanations of the Criteria) #C1. Mandatory: The document shall include a table of contents

More information

BARTLETT PARK DISTRICT REQUEST FOR PROPOSAL OF AUDITING SERVICES

BARTLETT PARK DISTRICT REQUEST FOR PROPOSAL OF AUDITING SERVICES REQUEST FOR PROPOSAL OF AUDITING SERVICES GENERAL INFORMATION The Bartlett Park District is requesting proposals from qualified Firms of certified public accountants to audit its financial statements for

More information

The mission of the Division of Transit Services is to provide an effective mix of public transportation services in Montgomery County.

The mission of the Division of Transit Services is to provide an effective mix of public transportation services in Montgomery County. Transit Services MISSION STATEMENT The mission of the Division of Transit Services is to provide an effective mix of public transportation services in Montgomery County. BUDGET OVERVIEW The total approved

More information

SAFE Credit Underwriting Guidelines for Non-Profit Lending. Organization Type: NON-PROFIT ORGANIZATIONS. Bridge Loan Guidelines.

SAFE Credit Underwriting Guidelines for Non-Profit Lending. Organization Type: NON-PROFIT ORGANIZATIONS. Bridge Loan Guidelines. Introduction The Credit Underwriting Guidelines (CUG) manual is designed for use with products delivered to faith-based and non-profit organizations. The guidelines herein govern the granting of credit

More information

City of Moreno Valley Date Adopted: April 6, 2007 CLASS SPECIFICATION Financial Operations Division Manager

City of Moreno Valley Date Adopted: April 6, 2007 CLASS SPECIFICATION Financial Operations Division Manager City of Moreno Valley Date Adopted: April 6, 2007 CLASS SPECIFICATION Financial Operations Division Manager GENERAL PURPOSE Under general direction, manages the Finance and Accounting division of the Finance

More information

WHITE CLOUD AREA FIRE DEPARTMENT JOINT BUILDING AUTHORITY NEWAYGO COUNTY, MICHIGAN ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2013

WHITE CLOUD AREA FIRE DEPARTMENT JOINT BUILDING AUTHORITY NEWAYGO COUNTY, MICHIGAN ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2013 WHITE CLOUD AREA FIRE DEPARTMENT JOINT BUILDING AUTHORITY NEWAYGO COUNTY, MICHIGAN ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2013 TABLE OF CONTENTS INDEPENDENT AUDITOR'S REPORT 1 MANAGEMENT S DISCUSSION

More information

ANTRIM COUNTY TRANSPORTATION BASIC FINANCIAL STATEMENTS DECEMBER 31, 2005

ANTRIM COUNTY TRANSPORTATION BASIC FINANCIAL STATEMENTS DECEMBER 31, 2005 ANTRIM COUNTY TRANSPORTATION BASIC FINANCIAL STATEMENTS DECEMBER 31, 2005 ANTRIM COUNTY TRANSPORTATION TABLE OF CONTENTS PAGE Independent Auditor's Report 1 FINANCIAL STATEMENTS Statement of Net Assets

More information

ACCOUNTING RECORDS AND SOURCE DOCUMENTATION

ACCOUNTING RECORDS AND SOURCE DOCUMENTATION ACCOUNTING RECORDS AND SOURCE DOCUMENTATION May 1994 Introduction Criteria for Accounting Documents and Records Accounting Procedures Manual Chart of Accounts Nine Principles Governing Accounting Records

More information

Guidance on Section 90 of the Companies Act, 2008

Guidance on Section 90 of the Companies Act, 2008 1 Important notice: 1. Every effort is made to ensure that the information in this guide is correct. Nevertheless, that information is given purely as guidance to assist with particular problems relating

More information

Internal Controls and Financial Accountability for Not-for-Profit Boards NEW YORK STATE OFFICE. of the ATTORNEY GENERAL.

Internal Controls and Financial Accountability for Not-for-Profit Boards NEW YORK STATE OFFICE. of the ATTORNEY GENERAL. Internal Controls and Financial Accountability for Not-for-Profit Boards NEW YORK STATE OFFICE of the ATTORNEY GENERAL Charities Bureau 120 Broadway New York, NY 10271 (212) 416-8400 www.charitiesnys.com

More information

6, 2007 CLASS SPECIFICATION

6, 2007 CLASS SPECIFICATION City of Moreno Valley Date Adopted: April 6, 2007 CLASS SPECIFICATION Senior Financial Analyst GENERAL PURPOSE Under general supervision, performs complex financial, budgetary, statistical and management

More information

Audit Report. Food and Nutrition Service Food Stamp Program Administrative Costs New Jersey. U.S. Department of Agriculture

Audit Report. Food and Nutrition Service Food Stamp Program Administrative Costs New Jersey. U.S. Department of Agriculture U.S. Department of Agriculture Office of Inspector General Northeast Region Audit Report Food and Nutrition Service Food Stamp Program Administrative Costs New Jersey Report No. 27002-25-Hy September 2008

More information

GUIDELINES AND STANDARDS FOR COST RECOVERY

GUIDELINES AND STANDARDS FOR COST RECOVERY GUIDELINES AND STANDARDS FOR COST RECOVERY Comprehensive Collection Program Effective July 1, 2012, Penal Code section 1463.007 under Senate Bill 857 (Stats. 2010, ch. 720), amends the standards by which

More information

Cobb Community Transit Mobility Voucher Program. A Transportation Program for Disabled Cobb County Residents Age 18 59

Cobb Community Transit Mobility Voucher Program. A Transportation Program for Disabled Cobb County Residents Age 18 59 Cobb Community Transit Mobility Voucher Program A Transportation Program for Disabled Cobb County Residents Age 18 59 Procedures Manual JUNE 2012 Program Description The Cobb Community Transit (CCT) Mobility

More information

DRAFT AGREEMENT WITH THE COUNTY FOR ACCOUNTING AND PAYROLL SERVICES

DRAFT AGREEMENT WITH THE COUNTY FOR ACCOUNTING AND PAYROLL SERVICES DRAFT AGREEMENT WITH THE COUNTY FOR ACCOUNTING AND PAYROLL SERVICES Attachment 3 ATTACHMENT A FOR COUNTY USE ONLY New Change Cancel FAS Vendor Code epro Vendor Number SC Dept. A Contract Number epro Contract

More information

Louisville Region: Travel Management Coordination Center

Louisville Region: Travel Management Coordination Center Louisville Region: Travel Management Coordination Center Mobility Services for All Americans ITS Phase 1 Grant Project Team Leads: TARC & KIPDA Region IV Conference May 2008 Evolution of Coordination Travel

More information

Sample Proposal for Organizational Development Services

Sample Proposal for Organizational Development Services Sample Proposal for Organizational Development Services This sample proposal might be a useful reference for you and your client as you both specify and communicate a project plan for change. Information

More information

LEGISLATIVE RESEARCH COMMISSION PDF VERSION

LEGISLATIVE RESEARCH COMMISSION PDF VERSION CHAPTER 272 PDF p. 1 of 5 CHAPTER 272 (SB 289) AN ACT relating to the Nursing Workforce Foundation. Be it enacted by the General Assembly of the Commonwealth of Kentucky: SECTION 1. A NEW SECTION OF KRS

More information

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a

The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a The following document was not prepared by the Office of the State Auditor, but was prepared by and submitted to the Office of the State Auditor by a private CPA firm. The document was placed on this web

More information

Doral Performing Arts and Entertainment Academy (A charter school under Doral College, Inc.) Doral, Florida

Doral Performing Arts and Entertainment Academy (A charter school under Doral College, Inc.) Doral, Florida (A charter school under Doral College, Inc.) Doral, Florida Financial Statements and Independent Auditors' Report June 30, 2010 TABLE OF CONTENTS General Information....................................

More information

80.20 Generally Accepted Accounting Principles

80.20 Generally Accepted Accounting Principles 80.20.10 80.20 Generally Accepted Accounting Principles 80.20.10 July 1, 2001 This state adopts Generally Accepted Accounting Principles (GAAP) Generally accepted accounting principles (GAAP) are uniform

More information

Federal Fiscal Year 2014 Funding For Utah s Large Urban Areas

Federal Fiscal Year 2014 Funding For Utah s Large Urban Areas Federal Transit Administration 5310 GRANT APPLICATION INSTRUCTIONS Enhanced Mobility of Seniors and Persons with Disabilities Federal Fiscal Year 2014 Funding For Utah s Large Urban Areas Instructions

More information

APPALACHIAN REGIONAL COMMISSION FINANCIAL STATEMENTS

APPALACHIAN REGIONAL COMMISSION FINANCIAL STATEMENTS APPALACHIAN REGIONAL COMMISSION FINANCIAL STATEMENTS As of And For The Years Ended APPALACHIAN REGIONAL COMMISSION TABLE OF CONTENTS Page(s) Independent Auditor s Report... 1-3 Financial Statements Balance

More information

SKAGIT COUNTY DEBT POLICY. Page 1 of 12

SKAGIT COUNTY DEBT POLICY. Page 1 of 12 SKAGIT COUNTY DEBT POLICY Page 1 of 12 SKAGIT COUNTY DEBT POLICY INDEX Page I. Roles and Responsibilities 3 II. Debt and Capital Planning 3-4 III. Credit Objectives 4-5 IV. Purpose, Type and Use of Debt

More information

AUDITING PROCEDURES REPORT Issued under P.A. 2 of 1968, as amended. Filing is mandatory.

AUDITING PROCEDURES REPORT Issued under P.A. 2 of 1968, as amended. Filing is mandatory. Michigan Dept. of Treasury, Local Audit & Finance Division 496 (3-98), Formerly L-3147 AUDITING PROCEDURES REPORT Issued under P.A. 2 of 1968, as amended. Filing is mandatory. Local Government Type: City

More information

CENTERS FOR INDEPENDENT LIVING COMPLIANCE REVIEW REPORT

CENTERS FOR INDEPENDENT LIVING COMPLIANCE REVIEW REPORT CENTERS FOR INDEPENDENT LIVING COMPLIANCE REVIEW REPORT People Achieving Real Independence, Inc. (PARI) Center for Independent Living Grant Award Number: H132A930034 (Pawtucket) Rhode Island REVIEW DATES:

More information

Purpose of the Summary of Audit Guidelines

Purpose of the Summary of Audit Guidelines Purpose of the Summary of Audit Guidelines The purpose of this summary is to provide a brief overview of USAID s Guidelines for Financial Audits Contracted by Foreign Recipients. It is a smaller version

More information

Audit Report. Division of Mental Health and Developmental Services Substance Abuse Prevention and Treatment Agency

Audit Report. Division of Mental Health and Developmental Services Substance Abuse Prevention and Treatment Agency LA12-15 STATE OF NEVADA Audit Report Division of Mental Health and Developmental Services Substance Abuse Prevention and Treatment Agency 2012 Legislative Auditor Carson City, Nevada Audit Highlights Highlights

More information

COOPERATIVE DEVELOPMENT OF THE FINANCIAL PLAN PROCESS: HOW TO ORGANIZE FOR FINANCIAL PLANNING

COOPERATIVE DEVELOPMENT OF THE FINANCIAL PLAN PROCESS: HOW TO ORGANIZE FOR FINANCIAL PLANNING COOPERATIVE DEVELOPMENT OF THE FINANCIAL PLAN The purpose of organizing for financial planning is to develop a set of assumptions, information, and forecasts that are reliable and consistent across different

More information

Adopted Budget: The budget formally adopted by the Board of Commissioners for the upcoming fiscal year.

Adopted Budget: The budget formally adopted by the Board of Commissioners for the upcoming fiscal year. 289 Accrual Basis of Accounting: The primary basis of recording assets, liabilities, revenues, and expenses for a government s business-like activities. Under the accrual basis, revenues are recognized

More information

Performance Audit Resolution Region H-Mid-Missouri Solid Waste Management District December 31, 2009, 201 0 and 2011

Performance Audit Resolution Region H-Mid-Missouri Solid Waste Management District December 31, 2009, 201 0 and 2011 Performance Audit Resolution Region H-Mid-Missouri Solid Waste Management District December 31, 2009, 201 0 and 2011 1. Sunshine Law Policy Not Provided We recommend the District adopt a written Sunshine

More information

November 6, 2013. Joint Committee on Finance. Bob Lang, Director

November 6, 2013. Joint Committee on Finance. Bob Lang, Director Legislative Fiscal Bureau One East Main, Suite 301 Madison, WI 53703 (608) 266-3847 Fax: (608) 267-6873 Email: fiscal.bureau@legis.wisconsin.gov Website: http://legis.wisconsin.gov/lfb November 6, 2013

More information

American Public Transit Association Bus & Paratransit Conference

American Public Transit Association Bus & Paratransit Conference American Public Transit Association Bus & Paratransit Conference Intelligent Transportation Systems Integrating Technologies for Mobility Management & Transportation Coordination May 24, 2011 RouteMatch

More information

OKALOOSA COUNTY GRANTS ADMINISTRATION AND ACCOUNTING POLICY AND PROCEDURES

OKALOOSA COUNTY GRANTS ADMINISTRATION AND ACCOUNTING POLICY AND PROCEDURES OKALOOSA COUNTY GRANTS ADMINISTRATION AND ACCOUNTING POLICY AND PROCEDURES Revised September 21, 2010 TABLE OF CONTENTS I. SCOPE. 3 II. PURPOSE 3 III. GOVERNING LAWS AND REGULATIONS. 4 IV. DELEGATION OF

More information

Nonprofit Fiscal Policies & Procedures: A Template and Guide

Nonprofit Fiscal Policies & Procedures: A Template and Guide Nonprofit Fiscal Policies & Procedures: A Template and Guide Developed by June 2012 Guide to the Fiscal Policies & Procedures Template Establishing good fiscal policies and procedures is more of an investment

More information

FLORIDA HIGH SCHOOL FOR ACCELERATED LEARNING - WEST PALM BEACH CAMPUS, INC. d/b/a QUANTUM HIGH SCHOOL

FLORIDA HIGH SCHOOL FOR ACCELERATED LEARNING - WEST PALM BEACH CAMPUS, INC. d/b/a QUANTUM HIGH SCHOOL LEARNING - WEST PALM BEACH CAMPUS, INC. Financial Statements with Independent Auditors Reports Thereon June 30, 2015 CONTENTS Page Management s Discussion and Analysis 1 6 Report of Independent Auditors

More information

Marina Coast Water District August 2011 ACCOUNTANT I/II

Marina Coast Water District August 2011 ACCOUNTANT I/II Marina Coast Water District August 2011 ACCOUNTANT I/II DEFINITION Under general direction of the Director of Administrative Services, performs detailed professional accounting, administrative and technical

More information

DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY

DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY 1. Purpose The Dixon Montessori Charter School Board of Directors ( Board ) has reviewed and adopted the following policies and procedures to ensure

More information

Conference Call #1-888-494-4032 Access Code #9786079493 A Training Session Given to DHS Providers October, 2014

Conference Call #1-888-494-4032 Access Code #9786079493 A Training Session Given to DHS Providers October, 2014 DHS Mission: To assist our customers to achieve maximum self-sufficiency, independence and health through the provision of seamless, integrated services for individuals, families and communities. Conference

More information

SAMPLE OF AUDIT REPORT NON-PROFIT SCHOOL ABC SCHOOL FOR THE DISABLED REPORT OF AUDIT FOR THE FISCAL YEAR ENDED JUNE 30,

SAMPLE OF AUDIT REPORT NON-PROFIT SCHOOL ABC SCHOOL FOR THE DISABLED REPORT OF AUDIT FOR THE FISCAL YEAR ENDED JUNE 30, NON-PROFIT Page No. NP - 1 SAMPLE OF AUDIT REPORT NON-PROFIT SCHOOL ABC SCHOOL FOR THE DISABLED REPORT OF AUDIT FOR THE FISCAL YEAR ENDED JUNE 30, NON-PROFIT Page No. NP - 2 ABC SCHOOL FOR THE DISABLED

More information

Board of Cooperative Educational Services of Nassau County. Financial Statements and Required Reports Under OMB Circular A-133 as of June 30, 2015

Board of Cooperative Educational Services of Nassau County. Financial Statements and Required Reports Under OMB Circular A-133 as of June 30, 2015 Board of Cooperative Educational Services of Nassau County Financial Statements and Required Reports Under OMB Circular A-133 as of June 30, 2015 CONTENTS INDEPENDENT AUDITOR S REPORT.. 1-3 REQUIRED SUPPLEMENTARY

More information

ACCOUNTING POLICIES AND PROCEDURES SAMPLE MANUAL

ACCOUNTING POLICIES AND PROCEDURES SAMPLE MANUAL (Name of Organization & logo) ACCOUNTING POLICIES AND PROCEDURES SAMPLE MANUAL (Date) Note: this sample manual is designed for nonprofit organizations with the following staff involved with accounting

More information

Financial Statement Analysis: An Introduction

Financial Statement Analysis: An Introduction Financial Statement Analysis: An Introduction 2014 Level I Financial Reporting and Analysis IFT Notes for the CFA exam Contents 1. Introduction... 3 2. Scope of Financial Statement Analysis... 3 3. Major

More information

DEFINITIONS OF IOWA SCHOOL FINANCE TERMS

DEFINITIONS OF IOWA SCHOOL FINANCE TERMS DEFINITIONS OF IOWA SCHOOL FINANCE TERMS Accounting Accrual year-end reporting required by the Department of Education on the certified annual financial report. A district may be operating on a cash accounting

More information

EXECUTIVE SUMMARY BACKGROUND

EXECUTIVE SUMMARY BACKGROUND EXECUTIVE SUMMARY BACKGROUND Title XIX of the Social Security Act (the Act) established the Medicaid program to pay for the medical assistance costs of certain individuals and families with limited incomes

More information

July 1, 2010 TO THE GOVERNING AUTHORITIES OF ALL MISSISSIPPI MUNICIPALITIES

July 1, 2010 TO THE GOVERNING AUTHORITIES OF ALL MISSISSIPPI MUNICIPALITIES OFFICE OF THE STATE AUDITOR STACEY E. PICKERING AUDITOR July 1, 2010 TO THE GOVERNING AUTHORITIES OF ALL MISSISSIPPI MUNICIPALITIES We are pleased to provide the 2010 Municipal Audit and Accounting Guide.

More information

WORKING CAPITAL MANAGEMENT SINCE 2010

WORKING CAPITAL MANAGEMENT SINCE 2010 March 2014 WORKING CAPITAL MANAGEMENT SINCE 2010 www.bcauditor.com 8 Bastion Square Victoria, British Columbia Canada V8V 1X4 Telephone: 250-419-6100 Facsimile: 250-387-1230 Website: www.bcauditor.com

More information

Wyoming Department of Transportation Internal Review Services 2013 Work Plan

Wyoming Department of Transportation Internal Review Services 2013 Work Plan Wyoming Department of Transportation Internal Review Services 2013 Work Plan 1 P a g e Background Internal Review Services (IR) is a staff function that reports directly to WYDOT s Director. This ensures

More information

Five Year Financial Plan

Five Year Financial Plan The Five Year Financial Plan is a forecast of revenues and expenditures that begins with the adopted annual budget for the upcoming fiscal year (FY16) and continues for four additional years (through FY20).

More information

TECHNIQUES FOR AUDITING BALANCE SHEET ITEMS

TECHNIQUES FOR AUDITING BALANCE SHEET ITEMS TECHNIQUES FOR AUDITING BALANCE SHEET ITEMS RATE CASE AND AUDIT MANUAL Prepared by regulators for regulators on how to audit a traditional rate case Adopted by U.S. National Association of Regulatory Utility

More information

Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE)

Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) Grant Application Process Overview May 5, 2015 What We are Going to Cover Grant objectives Differences between grants Grant

More information

Module 3 Budgeting/Forecasting. Micro Case Study: Strategic Planning in the Current Environment

Module 3 Budgeting/Forecasting. Micro Case Study: Strategic Planning in the Current Environment Module 3 Budgeting/Forecasting Micro Case Study: Strategic Planning in the Current Environment 18. You have been nominated to serve on your organization s strategic planning committee. You are informed

More information

SARASOTA MILITARY ACADEMY, INC. A CHARTER SCHOOL AND COMPONENT UNIT OF THE SCHOOL BOARD OF SARASOTA COUNTY. FINANCIAL STATEMENTS June 30, 2008

SARASOTA MILITARY ACADEMY, INC. A CHARTER SCHOOL AND COMPONENT UNIT OF THE SCHOOL BOARD OF SARASOTA COUNTY. FINANCIAL STATEMENTS June 30, 2008 FINANCIAL STATEMENTS June 30, 2008 TABLE OF CONTENTS INDEPENDENT AUDITOR'S REPORT... 1 MANAGEMENT'S DISCUSSION AND ANALYSIS... 3 BASIC FINANCIAL STATEMENTS: Government-wide Financial Statements: Statement

More information

Innovation and Technology Department

Innovation and Technology Department PERFORMANCE AUDIT Innovation and Technology Department IT Inventory Asset Management January 11, 2016 Office of the City Manager Internal Audit Division Cheryl Johannes, Internal Audit Manager PERFORMANCE

More information

Financial Statements. August 31, 2013. Table of Contents

Financial Statements. August 31, 2013. Table of Contents Financial Statements August 31, 2013 Table of Contents Page Independent Auditors' Report 1 Statement of Operations 3 Statement of Changes in Net Assets 4 Statement of Financial Position 5 Statement of

More information

EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK

EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK PREAMBLE A. ADMINISTRATION B. CAPITAL FUND I. OPERATING PRINCIPLES II. OPERATING POLICIES APPENDIX I CRITERIA

More information