UPPER NEHALEM WATERSHED COUNCIL
APPROVED AUGUST 4, 2011
SECTION 1: PURPOSE
This document states fiscal policies that the staff, Council, and Steering
Committee of the Upper Nehalem Watershed Council (UNWC) are required to
follow in order to transact the organization’s financial affairs effectively and with
SECTION 2: GENERAL FISCAL AUTHORITY AND RESPONSIBILITY
The Steering Committee is ultimately responsible for the financial
management and fiscal policies of the UNWC, with the Treasurer as the
liaison to staff on financial matters.
The UNWC Treasurer will reconcile bank statements each month, regularly
review staff implementation of these policies, and report regularly to the
Steering Committee on the financial health of the organization.
The Executive Director is responsible for the day-to-day financial
management of the organization, implementation of these policies, and
the establishment of written procedures to carry out the fiscal policies.
Authority to enter into contracts is as stated in the UNWC Contracted
SECTION 3: FUNDS MANAGEMENT POLICY
Insured accounts: UNWC funds will be deposited into FDIC insured
Accounting principles: UNWC funds will be managed using Generally
Accepted Accounting Principles (GAAP) including clearly written internal
Signatories: Two Steering Committee members designated by the
Steering Committee have the only authority to sign checks. If only one
designated member is available to sign, the Director is authorized to be
the second signatory. No UNWC employee or Steering Committee
member has the authority to sign a check or otherwise authorize payment
when s/he is the Payee. All check signers must make sure there is
adequate documentation to justify the check amount. The Steering
Committee as a whole will review and approve all checks for more than
$10,000 prior to disbursement.
Bank account authority: After obtaining the approval of the Steering
Committee, the two Steering Committee members designated as
signatories and the Executive Director must all be present and sign to
open and close bank accounts. The Executive Director is authorized to
approve wire transfer receipts and transfers between accounts.
Grant advancements and reimbursements: The Executive Director has
authority to request the advance of grant funds after notifying the
Treasurer. The Executive Director is authorized to request
reimbursement of funds at any time.
Interest and other miscellaneous receipts: Interest accrued on deposit
and any other miscellaneous income shall become the property of the
UNWC to offset operational costs and expenses when allowed by law.
SECTION 4: ANNUAL BUDGET
The Executive Director, with input from the Treasurer, will prepare the
UNWC operations budget for each fiscal year and present it to the
Steering Committee for discussion and approval.
SECTION 5: GRANT FILES
Grants on File: Hard copy files will be maintained at the UNWC office for
each grant, including a copy of all signed and dated grants, extensions,
amendments, reinstatements, and an up-to-date record of grant receipts
and reimbursements. No monies shall be disbursed or allocated to or from
any grant without such documentation on file. The Treasurer shall have
access to these files at all times. All conditions and requirements of the
grant agreement(s) are to be observed and followed.
Knowledge of grant requirements: The Executive Director is required to
be familiar with the terms and conditions dictated by each grant, including
extensions, amendments, and reinstatements. Before giving approval, the
Executive Director must determine that expenses are reasonable,
allocable and allowable per the terms of the grant and the cost principles
of the granting organization.
SECTION 6: DISBURSEMENT POLICIES
Conflict of Interest: All UNWC staff and Steering Committee members
involved in any UNWC financial transaction will strictly adhere to the
requirements of the UNWC Conflict of Interest Policy as well as federal
and state law.
Documentation: Payment for any expense must be based on written
documentation such as a timesheet, invoice, cash receipt or mileage log
that has been signed by the requestor and the Director as an authorized
expense. A monthly statement is not sufficient documentation for
payment without backup documentation for each purchase.
Vendor accounts and debit cards: The Director may establish UNWC
accounts with frequently used suppliers/vendors with prior approval of the
UNWC Treasurer. The Executive Director is authorized to use the UNWC
debit card and will notify the Treasurer of any purchase on the card over
$500 prior to purchase.
Staff travel and mileage reimbursement: Employees shall be entitled to
reimbursement from the UNWC for reasonable expenses necessarily
incurred in the performance of duties, on presentation of vouchers
indicating in reasonable detail the amount and business purpose of each
such expense and on compliance with the requirements of the UNWC’s
expense reimbursement policies and procedures. The UNWC signatories
will review all such requests prior to reimbursement. The Steering
Committee must approve any travel outside the service area. All mileage
will be reimbursed at the current IRS rate. With the exception of the field
crews using their vehicles for UNWC activities, no employee will be paid
mileage for travel from home to place of work.
Steering Committee travel and mileage reimbursement: The Steering
Committee’s and other volunteers’ participation in UNWC activities is
voluntary and unpaid. However, with prior Steering Committee approval,
Steering Committee members and other volunteers can be reimbursed for
travel expenses outside the service area when such travel is deemed
critical to the UNWC’s interests.
SECTION 7: AUDITS
The UNWC shall authorize and contract, as required and funded by any Grant
Agreement, audits of the financial accounts and records requiring audit. The
Treasurer and UNWC staff shall cooperate with and assist the Auditor(s) in
conducting the audit. The UNWC Steering Committee will review and approve
audits upon their completion. A current copy of UNWC audits will be available for
review by any UNWC member upon request.
SECTION 8: EXCEPTIONS
Every staff member and Steering Committee member is responsible for
immediately notifying the Executive Director or an officer of the Steering
Committee if any action contrary to this policy has been taken by a staff member
or a Steering Committee member.