Understanding County Budgets & Fiscal Report s County Extension Council Training Module Council Leadership Development Committee — a partnership of the University of Missouri Extension State Council and University of Missouri Extension October 2003 © 2003, University of Missouri Board of Curators

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Objectives Understand: – Sources of funding – Council’s role – Reports required

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Sources of Funding Federal – USDA State – General Assembly County – Commission Grants & Contracts

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October State Statutes Section (3) — Duties “… arrange for and administer the county share of cost of the Extension services …”

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October State Statutes Section — Governance – Establishes council as official body – Prohibits: Commercial or private activities Legislative programs Preferential service – Allows: Fee collection Private contributions

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October State Statutes Section — Budget – Established and filed annually Jan. 1 in most counties Sept. 1 in first-class counties – Sets minimum appropriations

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October State Statutes Section — Funds – Submit monthly to commission: Requisition Statement of expenditures Certified and itemized

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October State Statutes Section — Treasurer – Deposits monies – Pays bills – Keeps records – Presents annual financial report

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October State Statutes Section — Annual Report – Elected Council Secretary Submits – Details: Receipts and expenditures Summary of work Results accomplished – Due by Feb. 1

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Operating Budget Inclusive of council operations – Sources of funds – Uses Submitted annually to commission

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Operating Budget UME guidelines – Number of specialists – Actual operation costs Mileage Educational materials Marketing Secretary’s salary Office expenses

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Operating Budget Administration – Treasurer – County Program Director

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Operating Budget Computerized accounting system – Receivables – Payables – Revenue – Expenses – Assets – Liabilities

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Operating Budget Fiscal policies and procedures – State statutes – University policies – Commonly accepted practices for public entities Council policies

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Reports Monthly financial statement Quarterly financial report Annual report Annual audit report – Council committee – Audit/CPA firm

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Sound Financial Management County Program Director: 1. Oversees day-to-day operations 2. Supervises council-paid staff 3. Presents receipts and disbursements 4. Implements county-level policies 5. Informs council and regional director

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Sound Financial Management County Extension Council Members: 1. Prepare annual budget 2. Arrange for and administer county’s share 3. Receive by gift or purchase real or personal property 4. Collect fees

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Sound Financial Management County Extension Council Members: 5. Accept financial contributions 6. Prepare monthly fund requisition and statement of expenses 7. Direct treasurer to account for all monies

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Sound Financial Management County Extension Council Members 8. Direct Council Secretary to make annual report 9. Establish procedures for audit

Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October Produced by the Council Leadership Development Committee  a partnership of the University of Missouri Extension State Council and University of Missouri Extension Understanding County Budgets And Fiscal Reports County Extension Council Training Module University of Missouri Extension does not discriminate on the basis of race, color, national origin, sex, sexual orientation, religion, age, disability or status as a Vietnam-era veteran in employment or programs.