Building Stronger Extension Councils Budgets
sources and amount of funding for extension councils, state statutes defining duties and budget establishment, financial management responsibilities, and budget administration guidelines for extension councils.
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Presentation Transcript
Building Stronger Extension Councils Budgets - Understanding The Councils Responsibility Revised 2021
Building Stronger Extension Councils Sources and Amount of Funding Federal USDA State General Assembly County Commission Grants & Contracts Donations Revised 2021
Building Stronger Extension Councils State Statutes Section 262.590(3) Duties arrange for and administer the county share of cost of the Extension services Revised 2021
Building Stronger Extension Councils State Statutes Section 262.597 Budget Established and filed annually Jan. 1 in most counties Sept. 1 in first-class counties Sets minimum appropriations Revised 2021
Building Stronger Extension Councils State Statutes Section 262.600 Funds Submit monthly to commission: Requisition Statement of expenditures Certified and itemized Revised 2021
Building Stronger Extension Councils State Statutes Section 262.610 Treasurer Deposits monies Pays bills Keeps records Presents annual financial report Revised 2021
Building Stronger Extension Councils State Statutes Section 262.610 Annual Report Elected Council Secretary Submits Details: Receipts and expenditures Summary of work Results accomplished Due by Feb. 1 Revised 2021
Budget Guidelines Revised 2021
Building Stronger Extension Councils Budget Administration Treasurer County Engagement Specialist Extension Council Revised 2021
Building Stronger Extension Councils Fiscal policies and procedures MU Recommendations to comply with: State statutes University policies Commonly accepted practices for public entities Example: Bonding treasurer and bookkeeper Revised 2021
Building Stronger Extension Councils Reports Monthly financial statement Quarterly financial report Annual report Annual audit report Council committee Audit/CPA firm Revised 2021
Providing Sound Financial Management Revised 2021
Building Stronger Extension Councils CES Role Oversees day-to-day operations Supervises council-paid staff Reviews receipts and disbursements Implements county-level policies Informs council and regional director Revised 2021
Building Stronger Extension Councils Bookkeeper Role Enter transactions in Quickbooks Prepare monthly, quarterly and annual financial reports Reconcile bank statements Generate invoices Disburse payments Revised 2021
Building Stronger Extension Councils Treasurer Role Review monthly financial reports and appropriate documentation Present reports to council Sign checks (with second officer) Work with budget committee to develop budget proposal Revised 2021
Building Stronger Extension Councils Council Finance Committee Role Develop budget proposal Present proposal to county commission Review financial policies and make recommendations to council Revised 2021
Building Stronger Extension Councils Extension Council Role Prepare budget Administer county funds May receive gifts, purchase property Collect fees for services Direct the activities of the treasurer Review financial reports, monitor budget Establish audit procedures and other fiscal policies Revised 2021
Building Stronger Extension Councils Avoid these hazards Inappropriate signature authority University and council employees should not sign for accounts or contracts Council officers hold signature authority Lack of transparency Private Inurement (personal benefit) Revised 2021
