DISTRICT 5000 TRF QUALIFICATION TRAINING SESSIONS ROTARY YEAR

CLUB QUALIFICATION & FINANCIAL MANAGEMENT

STEWARDSHIP Stewardship is the responsible management and oversight of grant funds, including: Standard business practices Rotarian supervision Financial records review Oversight of grant funds Reporting of irregularities Timely submission of reports

CLUB STEWARDSHIP REQUIREMENTS Funds must be kept in a separate account from Club operating funds –District Grants … one account, multiple projects –Global Grants … only if your club handles project $$s 2 person authorization for Grant disbursements Club to set up a Stewardship committee 7-year record keeping system for documents Must have a Financial Management Plan

CLUB MEMORANDUM OF UNDERSTANDING (MOU) 1.Club Qualification 2.Financial Management Plan 3.Bank Account Requirements 4.Report on Use of Grant Funds 5.Document Retention 6.Reporting Misuse of Grant Funds

CLUB QUALIFICATION REQUIREMENTS 1.At least 2 members attend Qualification Seminar –President for affected year must be one 2.Complete and Implement Club MOU 3.Provide most recent Federal tax returns –Shows club is current on tax reporting Club responsible for use of grant funds

FINANCIAL MANAGEMENT PLAN 1.MUST have a written Financial Management Plan 2.Financial Management Plan must include: –Standard set of account(s) with record of all receipts and disbursement of grant funds –Maintain segregation of duties for handling of funds –Establish inventory system for equipment and other assets purchased & disbursed –Ensure all grant activities, including conversion of funds, comply with local laws D5000 HAS A PROTOTYPE FOR CLUBS TO SIGN

BANK ACCOUNT REQUIREMENTS 1.Club must have a dedicated bank accounts solely for receiving and disbursing TRF grant funds 2.Account Name must clearly identify its use –“RC of XXX District Grant Account” –“RC of XXX Global Grant Account” 3.District Grants –One account OK for multiple projects –If multiple projects, must keep separate ledger 4.Global Grants –Only required if Club is handling finances for project –Only one Partner handles finances

BANK ACCOUNT REQUIREMENTS-continued 1.Minimum of 2 Rotarian signatories for disbursements 2.Written Plan for transferring custody on change in signatories 3.Clubs must sign the District 5000 MOU Addendum –Allows use of one account for District Grants –TRF MOU would require separate account for each District Grant

REPORT ON USE OF GRANT FUNDS 1.Clubs must adhere to all TRF reporting requirements-Progress reports & Final reports: –Progress report every 12 months –Final Report due within 2 months of end of a grant project

DOCUMENT RETENTION 1.Establish & maintain recordkeeping system to preserve important documents - both physically & electronically. 2.Documents must include: –Bank information & statements –Copy of your signed Club MOU –Plan & Procedure documents: Financial Mgt. Plan, –Information on all grants, including receipts & invoices 3. Documents must be keep for 7 years or longer

REPORTING MISUSE OF GRANT FUNDS Club MUST report any potential and real misuse or mismanagement of grant funds to the district. The report MUST be in writing, signed and sent to District 5000 Rotary Foundation Ombudsperson.

PURPOSE FOR GRANT MANAGEMENT Understand how to manage a Rotary Foundation grant Learn Stewardship expectations Prepare clubs to implement the Club MOU Qualify clubs to receive grant funds

Club Qualification END OF TRAINING SESSIONS THANK YOU FOR COMING