1. Checkoff Accountabilty

2. Checkoff Accountability
Beef Board accountable for:
Funds at Beef Board
Checkoff funds at State Beef Councils
Checkoff funds used by contracting organizations

3. CBB Assures Accountability …
…Through:
Annual audit of CBB’s financial statements
CPA review of CBB’s expenditures to ensure compliance
CPA review of investment activities to ensure compliance with the AMS Investment Policy

4. Regular contract compliance reviews of Board’s contractors
Review of State Beef Council marketing plans and audited financial statements
Financial and procedural reviews of SBCs
Presentation of results to Beef Board Executive Committee

5. Financial & Procedural Reviews

6. Financial & Procedural Reviews
Beef Board Guideline
The Cattlemen’s Beef Promotion and Research Board will perform at least 10 QSBC reviews annually

7. Summary of Review Procedures
1. Gain an overall understanding of QSBCs’ operations
2. Review areas of concern to the QSBC board and/or executive director
3. Review cash balances and investments for compliance
4. Test expenditures for compliance with Beef Act and Order and Beef Board Guidelines

8. 8. Meet with the QSBC’s auditor to review the audit work papers
5. Review internal controls to ensure that proper safeguards are in place
6. Review collections procedures to see that assessments and late fees are collected by the QSBC and remitted to the Beef Board in a timely manner
7. Review contractual relationships with industry organizations to ensure that billed expenses comply with the Act and Order and with Beef Board Guidelines
8. Meet with the QSBC’s auditor to review the audit work papers