FISCAL POLICIES AND PROCEDURES

I. Introduction

The Fiscal Policies and Procedures will provide procedures for control of Region X Head Start Association cash disbursements and receipts. A bookkeeping system is provided including provision for quarterly financial reports. The Association will vote for a Treasurer and an independent agent will provide bookkeeping services with the capabilities of providing the responsibilities as outlined in these procedures.

II. Treasurer Responsibilities

  1. Bill state associations for annual dues assessment in March of each year to be paid no later than November. Assess dues of $1.00 per federally funded slot effective September of the previous fiscal year.
  2. Verify all state dues.
  3. Present a current report at every meeting of the RXHSA Board of Directors.

III. Bookkeeping Services

  1. Maintain a computerized accounting system that will track all money receipts and expenditures of Association funds.
  2. Deposit all cash and checks in the Association bank account.
  3. Present quarterly financial statements to Region X Head Start Treasurer.
  4. Prepare checks for disbursement as authorized by the Treasurer's signature on the Check Requisition form.

IV. Requests for Monies from RXHSA

  1. All requests for monies from RXHSA must be submitted directly to the Treasurer. All requests must be submitted on Region X Requisition Form. In the event the Treasurer's position is vacant, the President may authorize payment. Every effort will be made to fill the vacancy quickly.
  2. After the Treasurer approves the request, the Check Requisition Form will be forwarded to the Bookkeeping agent.
  3. The Bookkeeping agent will prepare checks for disbursement. Checks will require a signature authorized by the Region X Head Start Association Board of Directors.

V. Scholarships

  1. RXHSA will pay $1000 toward expenses for the Region X Parent-of-the-Year to attend NHSA parent-training conference.
  2. RXHSA will pay $400 to the sponsoring program toward expenses for the Region X Parent-of-the-Year to the Region X training
    3. conference.
  3. RXHSA will pay $250 award to the RXHSA Beating the Odds, Willard Clayton, Anne Phipps, Parent-of-the-Year, Teacher-of-the-Year, and Father-of-the-Year winners.

VI. Budget Development and Fiscal Policy Formation

The RXHSA Board of Directors will provide oversight of budget and fiscal policy development.

  1. The budget year for the association is from January 1 to December 31.
  2. At the November meeting of the Association, the Board will be responsible for the preparation and adoption of the budget.
  3. Fiscal Policies will also be reviewed at the summer meeting of the Board.
  4. Prior to each Board meeting, the Treasurer will confer by telephone with the bookkeeping agent to review the financial statement with the Treasurer and at the Treasurer will submit a financial report to the Board at each meeting.

VII. Travel Advances and Reimbursements

Advance payments or reimbursements for authorized travel expenses are allowable. Advances are initiated upon receipt by the Treasurer of a Region X Requisition Form.

  1. National Representatives will not exceed the budgeted amount for travel to National meetings without the prior approval of the Association Executive Committee or Board of Directors. The Treasurer will monitor these expenditures.
  2. The Region X Requisition Form will be completed at least thirty (30) days prior to travel when requesting an advance and within thirty (30) days of returning home. No reimbursements will be made if submitted after thirty (30) days. Approved reimbursement will be dispersed within 30 days of submission.
  3. It is the responsibility of the traveler to arrange for the lowest possible airfare and hotel accommodations. Whenever possible, it is expected that rooms will be shared.
  4. The CONUS reimbursement rates for per diem and mileage will be paid.
  5. Per Diem will be paid for national representatives for two (2) travel days (one before and one after meetings). Per Diem will be paid for days of meetings in between those travel days.
  6. Per Diem will not be paid for expenses during the annual RXHSA training conference.
  7. Registration will be paid for the annual RXHSA Training Conference.
  8. RXHSA will pay per diem, lodging, and registration fees for the NHSA Board Meeting and conference days for NHSA Annual Training Conference.
  9. The Treasurer verifies expenses and receipts before approving any requests for reimbursement. Receipts will include airfare, transportation receipts, hotel, childcare form, etc. If adequate receipts are not included, the Treasurer will return the request to the traveler.
  10. The Treasurer will forward the completed requests to the bookkeeping agent. The reconciled advance with remaining cash with the receipts must be submitted within 30 days of travel.
  11. The Association will not cover any personal expenses listed on the hotel bill.
  12. Reimbursement requests for RXHSA Board Meeting expenses will be approved by the Treasurer and forwarded to the bookkeeping agent.
  13. Expenses for the bookkeeping services will be requested by the bookkeeping agent and approved by the Treasurer at least once a year.
  14. Childcare reimbursement will be provided for parents who are required to travel on association business. Childcare will be paid at the rate established by RXHSA Board and revised as needed. It is expected that quality childcare will be obtained at the most reasonable rate possible and will not exceed the established the approved rate.
  15. Any costs felt to be in excess of reasonable expenses will be denied. If denied, the applicant can appeal to the Board for payment.

VIII. Bank Accounts

  1. Operational funds will be kept in a checking accounting account that will be the responsibility of the bookkeeping agent.
  2. Cash reserve will be placed in an interest bearing account.
  3. The bookkeeping agent will not make disbursements of approved expenses if disbursement will cause an overdraft of the bank account.

IX. System Costs

All direct costs (excluding labor) including office supplies, printing, bank charges and postage will be borne by RSXHSA. These costs will be disbursed and expended in accordance with Section III. (Requests for Monies from RXHSA). A check requisition will be prepared by the bookkeeping agent and submitted to the Treasurer for approval to pay.

Any money earned by the Association will be kept by the Association; any decision to disburse it will be up to the discretion of the Board.

X. Fiscal Responsibility

  1. The RXHSA Board of Directors holds fiscal responsibility.
  2. Financial audits of this system are at the discretion of the RXHSA with audit costs to be borne by the RXHSA.
    1. Annual audits will be conducted by a Certified Public Accountant.
    2. Audit reports will be submitted to the RXHSA at the next meeting following the completion of the audit.
    3. If there are any questions, the bookkeeping agent will be available to the RXHSA.
  3. Transfer of the record keeping system from one Head Start agent to another can only be made upon a formal request approved by the RXHSA Board of Directors. A "Release of Liability Statement" signed by the RXHSA Chairperson for the bookkeeping agent must accompany any order to transfer this record keeping system. A 30-day advance notice will be given to the bookkeeping agent.

XI. Reports

Financial reports will be submitted to the RXHSA Treasurer and to the RXHSA Chairperson by the bookkeeping agent before each scheduled meeting.