County Accounting Fiscal Review Overview of Fiscal Responsibility Chart of Account format Detailed review of the chart of account and how other aspects of financial reporting are affected, i.e. budgeting, cumulative carryover. Reports available

Fiscal Management Planning, directing, monitoring, organizing and controlling of monetary resources of an organization. County Extension Law –Code of Iowa Chapter 176.A

Segregates resources into categories, aka. funds. Emphasizes accountability and stewardship. Cash Basis Income recognized when received and expenses when paid. Fund Accounting

Chart of Account Format

Type of Account

Personnel Guidelines for County Extension Employment Matrix –Website – Extension & Outreach > Human Resources/Jobs > Resources for County Extension Offices, under Hiring Process for County Paid Staff E5096AAFF389/172112/EmploymentMatrix.pdf

Program

Fund

Fund / Sub-fund County Agricultural Extension Education Fund –Tax –Program Fee –Grant & Contract –Donor Restricted –Other Tort Liability Unemployment Compensation

Communication Bookkeeper, Staff & Council Define Processes for Financial Transactions i.e. Program Fee vs. Tax or Grant –Supplies ordered from 1 vendor that cover 2 programs and general office supplies. –Overstate tax expenditures and understate Program Fee * Grant expenditures.

Tools Available Develop budgets for programs –Website – Extension & Outreach > Finance> Revenue Generation ce/revenue.htm

Chart of Account Setup for a New Program Program title ‘Strengthening Families’ Identify Revenue & Expense Streams –Grant Revenue / Expenses –Contribution & Program Fee Revenue / Expenses –Tax Expenses

Revenue Accounts

Expense Accounts

Reports Transaction Report for Grant, Program Fee & all funds. Summary for both Grant & Program Fee. Program Area Summary – shows all funds by program area.

County Fiscal Management Team –Sherry Glenn, Terry Maloy, Craig Hertel & Emily Ladewig –Contact Emily Ladewig at Connect Sessions to come –Reports in GP and how to run

Q & A