2. An interactive exploration of SWCD Financial Management

4. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

5. FUNDING SOURCES 100 Under this category, many SWCDs receive money from its localities/counties in exchange for technical assistance…..

6. What is local government funding?

7. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

8. FUNDING SOURCES 200 Examples of this funding source include essential operating funds, the Virginia agricultural BMP cost-share disbursements, and technical assistance administered through the Department of Conservation & Recreation (DCR)…..

9. What is state government funding?

10. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

11. FUNDING SOURCES 300 The Conservation Reserve Enhancement Program (CREP) is administered through this type of funding…..

12. What is federal government funding?

13. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

14. FUNDING SOURCES 400 Local businesses, non-profit organizations, and general sponsorships fall into this category…..

15. What is private grant funding?

16. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

17. FUNDING SOURCES 500 This source of revenue varies from district to district, but may include plant sales, rental of conservation equipment and/or rain barrel workshops...

18. What is in-house fundraising?

19. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

20. KEY PLAYERS 100 The Department of Conservation & Recreation (DCR) liaison for disbursement of state funding.

21. Who is the Conservation District Coordinator (CDC)?

22. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

23. KEY PLAYERS 200 This individual(s) provides daily receipt of revenues, payment of obligations, and prepares financial reports.

24. Who is the Administrative Staff?

25. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

26. KEY PLAYERS 300 This individual oversees financial operations and provides a monthly report to the SWCD Board of Directors…

27. Who is the Treasurer?

28. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

29. KEY PLAYERS 400 This group is responsible for the preparation of the annual budget and revisions as needed for SWCD Board of Directors approval…

30. What is the Finance Committee?

31. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

32. KEY PLAYERS 500 This group approves the budget and necessary revisions; reviews reports on a monthly basis…

33. What is the SWCD Board of Directors?

34. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

35. CHART OF ACCOUNTS 100 Revenue, funding, and interest fall under this classification…

36. What is income?

37. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

38. CHART OF ACCOUNTS 200 This classification tracks costs associated with day to day operations and projects…

39. What is an expense?

40. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

41. CHART OF ACCOUNTS 300 These holdings can be accessed quickly and easily converted into cash…

42. What are liquid assets?

43. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

44. CHART OF ACCOUNTS 400 A long-term, tangible piece of property, not consumed, or sold during the normal course of business…

45. What are fixed assets?

46. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

47. CHART OF ACCOUNTS 500 Current and/or projected obligations…

48. What are liabilities?

49. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

50. FINANCIAL TOOLS 100 Accounting software that enables its users to create and track a budget, enter transactions, process payroll, generate computer checks, and produce individualized financial reports…

51. What is QuickBooks™?

52. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

53. FINANCIAL TOOLS 200 Developed prior to the beginning of a fiscal year, this document includes all revenues and disbursements; it should be updated when significant changes are known, and should be tracked with monthly reporting…

54. What is a Budget?

55. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

56. FINANCIAL TOOLS 300 A statement of financial position; reflects assets and liabilities…

57. What is a Balance Sheet?

58. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

59. FINANCIAL TOOLS 400 A current listing of equipment and other fixed assets owned by the SWCD; updated on a minimal annual basis…

60. What is an Inventory?

61. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

62. FINANCIAL TOOLS 500 A biennial investigation of all financial records; performed by a third-party who provide a written findings/recommendations report.

63. What is an audit?

64. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

65. REPORTING REQUIREMENTS 100 Individualized reports such as the Treasurer’s Report, customized to the needs of the SWCD Board of Directors..

66. What are internal reports?

67. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

68. REPORTING REQUIREMENTS 200 As a condition of funding, these contributors may require timely, itemized accountings of funds received and disbursed; each may have its own reporting mechanism..

69. Who are grantors? i.e. local, state, federal government, or private organizations

70. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

71. REPORTING REQUIREMENTS 300 A series of financial reports related to the employment of Staff with monthly, quarterly, and annual deadlines.

72. What are payroll reports?

73. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

74. REPORTING REQUIREMENTS 400 An annual IRS form used to document payments made to producers participating in the Virginia Agricultural BMP Program.

75. What is a 1099-G?

76. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

78. REPORTING REQUIREMENTS 500 Although not commonly thought of, one of the few taxes SWCDs may be required to collect and report on…

79. What is Sales Tax?

80. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 100 200 300 400

81. POLICIES 100 A written resource manual outlining employer expectations and guidelines..

82. What is a Personnel Policy?

83. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 200 300 400

84. POLICIES 200 This policy provides guidelines established by the SWCD Board of Directors for the purchase of goods and services…

85. What is a Procurement Policy?

86. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 300 400

87. POLICIES 300 Risk management devices that address specific liability threats such as automobile accidents, fire, and worker’s compensation.

88. What are Insurance Policies?

89. 500 FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 400

90. POLICIES 400 A federal law that allows for the full or partial disclosure of previously unreleased information and documents..

91. What is the Freedom of Information Act (FOIA)?

92. FUNDING SOURCES CHART OF ACCOUNTS REPORTING REQUIREMENTS KEY PLAYERS FINANCIAL TOOLS POLICIES 500

93. POLICIES 500 Enacted by the General Assembly to define and prohibit inappropriate conflicts and require economic disclosure by all state and local officers and employees…

94. What is the State and Local Government Conflict of Interest Act (COIA)?

95. This episode of Financial Jeopardy! has been brought to you by: Northern Neck SWCD in cooperation with Virginia Association of Soil & Water Conservation Districts…. Executive Producer: Kathy Clarke Chief Editor: J.C. Berger www.nnswcd.orgwww.nnswcd.org (804) 333-3525, x102