Director Session #1 Anne B. Wall, CPA & Thomas P. Smith, CPA Robinson, Farmer, Cox Associates

Responsibility for District Financial Operations Desktop Guide for Fiscal Operations Develop Budgets and Budget Reports Ensure Finances are Administered in Accordance with Sound Policies and Practices (Review Annually) Personnel Purchasing Credit Card Vehicle Usage Reserve Funds

Review and Involvement in Financial Operations Segregation of Duties in a Large Organization Flowchart for Purchasing Flowchart for Receiving Flowchart for Voucher Payable Flowchart for Treasurer [for Payment]

Review and Involvement (cont) Realistic Organization of a SWCD Considerations for Segregation of Duties Director Involvement in Processing and Review Significant Purchases Disbursement of Funds Bank Reconciliation Financial Reporting – Monthly and Quarterly Public Records

Compliance Payroll Processing and Reporting Fringe Benefits “Extra” compensation Vendor Payments – goods and services Program Payments to Property Owners Public Deposits

Never Do’s Have one employee write checks, sign checks and reconcile bank accounts Sign a check without two (2) approvals on the invoice Sign a blank check Direct your accountant to post an expense to an improper account to keep the proper account from going over budget

Never Do’s (continued) Authorize a bank account not included in your accounting system Give only verbal approval for payroll adjustments Pay employees for services and not include them in payroll processing

Conclusion and Questions Potential Consequences of Not Being Involved Fraud Abuse Late fees, fines, etc. Negative publicity Questions Thank you for having us