Fiscal Policies

UPPER NEHALEM WATERSHED COUNCIL

FISCAL POLICIES

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

integrity.

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

Services Policy.

SECTION 3: FUNDS MANAGEMENT POLICY

• Insured accounts: UNWC funds will be deposited into FDIC insured

accounts.

• Accounting principles: UNWC funds will be managed using Generally

Accepted Accounting Principles (GAAP) including clearly written internal

controls.

• Signatories: Two Steering Committee members designated by the

Steering Committee have the only authority to sign checks. If only one

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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

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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.

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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.