Create Fiscal Handbook / Internal Controls

Starters from @michael

Fiscal Handbook

Related Projects

@michael As we continue to work on this, let’s use this Hub topic to track any actions / progress.

Reimbursement from the business account, to the personal account, should have executive & business approval. (One step beyond approval/consent of generally reimbursing.)

So it doesn’t appear that you are moving money. It’s an internal control thing of checks and balances.

Currently executive approval is Board Chairs and EDs.

Nandhini:

Someone from the finance circle is sending the money.

There’s some type of check-and-balance where other organizers need to approve. It can’t be just a single organizer because then auditors may question if someone is a friend.

Deborah:

Question of who approves and how is it documented?

Nandhini:

Bookkeeper has to retain documentation. Receipts, every bill that we pay for.

As part of this project, currently working on…

Adding Michael as an Admin on the Business Account (so there are two people with access)

Figuring out how to do electronic transfers and the documentation associated with them