Financial Accountability

The financial system exists to protect charitable resources and make responsible decisions visible to the Board.

Annual budget

The Board approves an annual operating budget before the fiscal year and may approve amendments during the year.

Monthly reporting

Financial policies call for regular balance-sheet and activity reporting to the Board, supported by reconciliations and underlying records.

Bank reconciliation

Bank activity is reconciled separately from check preparation, with reports available for Board oversight.

Supporting documents

Disbursements require appropriate invoices, receipts, authorization, and records rather than informal reimbursement by memory.

Segregation of duties

Accounting, approval, payment, and reconciliation responsibilities are separated where practical and reviewed for conflicts.

Records retention

Permanent corporate records and time-limited financial and operational records are retained according to an adopted schedule.

Board review and internal control

The foundational financial policies call for an annual internal review of financial records and controls by a person independent of the principal financial decision-makers. They also address budgeting, bank reconciliation, expense documentation, contribution acknowledgments, contractor records, fixed assets, travel reimbursement, and financial-statement distribution.

Restrictions and safeguards

The policies prohibit loans to directors, volunteers, and other individuals; prohibit bartering; limit investments to insured cash-equivalent instruments approved by the Board; and require Board approval before records are destroyed.

Conflicts and family relationships

The financial policies address actual and perceived conflicts, supervision of relatives, review of related work, and disclosure of personal relationships that could affect organizational decisions.

Security boundary

The public site summarizes controls without publishing bank information, passwords, private vendor records, personal addresses, signatures, or operational details that would weaken those controls.