1. Understanding County Budgets & Fiscal Report s County Extension Council Training Module Council Leadership Development Committee — a partnership of the University of Missouri Extension State Council and University of Missouri Extension October 2003 © 2003, University of Missouri Board of Curators

2. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 20032 Objectives Understand: – Sources of funding – Council’s role – Reports required

3. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 20033 Sources of Funding Federal – USDA State – General Assembly County – Commission Grants & Contracts

4. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 20034 State Statutes Section 262.590(3) — Duties “… arrange for and administer the county share of cost of the Extension services …”

5. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 20035 State Statutes Section 262. 593 — Governance – Establishes council as official body – Prohibits: Commercial or private activities Legislative programs Preferential service – Allows: Fee collection Private contributions

6. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 20036 State Statutes Section 262.597 — Budget – Established and filed annually Jan. 1 in most counties Sept. 1 in first-class counties – Sets minimum appropriations

7. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 20037 State Statutes Section 262.600 — Funds – Submit monthly to commission: Requisition Statement of expenditures Certified and itemized

8. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 20038 State Statutes Section 262.610 — Treasurer – Deposits monies – Pays bills – Keeps records – Presents annual financial report

9. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 20039 State Statutes Section 262.610 — Annual Report – Elected Council Secretary Submits – Details: Receipts and expenditures Summary of work Results accomplished – Due by Feb. 1

10. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200310 Operating Budget Inclusive of council operations – Sources of funds – Uses Submitted annually to commission

11. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200311 Operating Budget UME guidelines – Number of specialists – Actual operation costs Mileage Educational materials Marketing Secretary’s salary Office expenses

12. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200312 Operating Budget Administration – Treasurer – County Program Director

13. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200313 Operating Budget Computerized accounting system – Receivables – Payables – Revenue – Expenses – Assets – Liabilities

14. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200314 Operating Budget Fiscal policies and procedures – State statutes – University policies – Commonly accepted practices for public entities Council policies

15. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200315 Reports Monthly financial statement Quarterly financial report Annual report Annual audit report – Council committee – Audit/CPA firm

16. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200316 Sound Financial Management County Program Director: 1. Oversees day-to-day operations 2. Supervises council-paid staff 3. Presents receipts and disbursements 4. Implements county-level policies 5. Informs council and regional director

17. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200317 Sound Financial Management County Extension Council Members: 1. Prepare annual budget 2. Arrange for and administer county’s share 3. Receive by gift or purchase real or personal property 4. Collect fees

18. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200318 Sound Financial Management County Extension Council Members: 5. Accept financial contributions 6. Prepare monthly fund requisition and statement of expenses 7. Direct treasurer to account for all monies

19. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200319 Sound Financial Management County Extension Council Members 8. Direct Council Secretary to make annual report 9. Establish procedures for audit

20. Missouri Council Leadership Development: 21 st Century Programs, Governance and Membership October 200320 Produced by the Council Leadership Development Committee  a partnership of the University of Missouri Extension State Council and University of Missouri Extension http://extension.missouri.edu/extcouncil/training/ Understanding County Budgets And Fiscal Reports County Extension Council Training Module University of Missouri Extension does not discriminate on the basis of race, color, national origin, sex, sexual orientation, religion, age, disability or status as a Vietnam-era veteran in employment or programs.