1. State Beef Council Reviews Monitoring of QSBC expenditure compliance

2. Role of CBB Executive Committee
Committee monitors state beef council expenditures by:
Reviewing annual marketing plans and financial statements from each state
Systematic financial and procedural reviews
Provides investing & banking guidance through a QSBC Investment Policy, to ensure the safety of beef checkoff funds

3. CBB Conducts Financial Reviews of State Beef Councils
QSBC Oversight
State Beef Councils Submit Annually:
A marketing plan
Financial statements audited by CPA
CBB Conducts Financial Reviews of State Beef Councils

4. QSBC Financial and Procedural Reviews
Goal is 10 QSBC reviews each year
Reviews are performed by CBB staff
Findings generally routine and easily resolved
Reported to EC in Executive Session

5. QSBC Areas Reviewed Evaluation of internal controls
Compliance with investment policy, Act & Order and CBB Guidelines
Checkoff collection procedures
Accounting policies and procedures
Proper cost allocation

6. Resources for QSBCs Sample policies and procedures
Research contract template
Cost allocation template
Checkoff collection manual
Checkoff collection software (BCCS)
Upon completion of his presentation, Kevin hands off to Chad for discussion about the Beef Board’s Collections Compliance procedures…. Chad…