Purpose

Provide operating and planning guidelines that support the Humanist Community of Central Ohio’s (HCCO) financial operations. This policy shall guide management, staff, and volunteers in evaluating financial implications of program and policy recommendations to the Board of Directors. It shall also serve as parameters for HCCO’s actions to ensure a long-term, stable economic base.

Scope

• This policy applies to all HCCO’s employees, management, contractors, student interns, and volunteers.
• This policy describes the HCCO’s objectives and policies regarding maintenance and planning of finances and accounting standards.

Definitions

• Account signatories – a person who has signatory rights; entitling this person to execute transfers of funds from and to financial accounts held by HCCO in accordance with the guidelines within this policy and at no time in his own interest.
• Income Accounts – any online account used to accept payments (e.g. Paypal, Square.com)

Responsibilities

• Executives/Management
  • The board shall create and approve annual budget.
  • The board shall create any new financial account for the interest of HCCO in accordance with applicable law.
  • Board members may request in person at the HCCO office location account balances at any time during normal office hours or by appointment.
• President
  • Shall be an account signatory.
  • Shall securely maintain the lock box key.
• Vice President
  • Shall be an account signatory.
• Treasurer
  • Maintains all account records according to applicable law.
    • Bookkeeping
    • Monitors online bank activity
  • Shall securely maintain the debit card and checkbook.
    • Securely maintains account login information
  • Shall securely maintain the lock box key.
  • Reports financial status at board meetings no less than quarterly, including an online printout or recent statements for all accounts.
  • Prepares a balance sheet and material inventory at least annually.
  • Presents a financial report for general membership at annual membership meeting.
• Employees
  • May be account signatories approved by the board.

Annual Budget & Expenditures

• Each year, prior to March, the board shall approve an annual budget running from March 1 through February 28/29 of the next year.
• The yearly budget shall have line items for income and expenses.
• By budgeting expenditures within line items, the board authorizes account signatories to make expenditures up to the line amount.
• The account signatory must have approval from the board for any expenditure within a line item that will exceed the budgeted amount by more than 10%.
• All un-budgeted expenses must be pre-approved by the board.

Account Access

• Check Writing
  • The Treasurer shall write checks and the President shall sign them.
  • All checks shall require documentation of the expense (invoice, bill, receipt, etc.)
  • Voided checks shall be kept with the checkbook.
• Online Banking
  • The account signatories and Treasurer will have the login information for the HCCO online banking account(s) and must maintain these data security.
  • Online bill pay or other online financial transactions must be approved by the board before an account signatory can carry out such transactions.
• Income Accounts
  • The account signatories and Treasurer shall securely keep all income account(s) login information and can reference these data at any time.
  • Income accounts shall be used for the sole purpose of collecting income and no expenditures shall be made via any income account.
  • Account signatories shall be responsible for transferring funds from income accounts to the checking account in a timely fashion and reporting these transfers to the Treasurer.
• Debit Card
  • Account signatories shall request the debit card from the Treasurer for budgeted or other board-approved expenses (including online purchases) and must return the card and receipt(s) for all expenses incurred on the card.
  • Account signatories shall request the debit card from the Treasurer to complete Automated Teller Machine (ATM) deposit(s) and must return the card and receipt(s).

Expense/Reimbursement

• All HCCO expenses handled by non-signatories shall be controlled by reimbursement.
• All reimbursements require pre-approval of the expense by an account signatory.
• Individuals requesting reimbursement must provide official documentation of the expense (receipt, invoice, etc.).
• Account signatories may reimburse themselves or non-signatories with budgeted HCCO funds.

Income/Deposit

• All income must be documented either via an electronic receipt (e.g. Income Account) or paper documentation (e.g. membership form, event registration, etc.).
• All HCCO donations or income collected by board members or non-board members shall be reported to the Treasurer within 24 hours and mailed to the attention of the Treasurer at the HCCO business address within two weeks.
• All cash donations or income collected by board members or non-board members shall be delivered in person to the President, Vice-President, Treasurer, or account signatory within 2 business days.
• All checks shall be scanned or photocopied and filed in the treasurer records along with the documentation.
• Cash donations shall be counted by two separate board members and given to the Treasurer for immediate deposit.
• Cash from any other income sources shall be documented as though it was a check; a copy of the documentation shall be kept with the Treasury.
• All bank deposit tickets must be scanned and filed along with the deposit receipt.
• Income Accounts
  • Income accounts are to be used for income only.
• Locked Cash Box
  • All cash shall be locked; stored and transported (when necessary) in a lockable cash box.
  • The President or Treasurer may temporarily delegate a key or code to the lock box to a board member with the approval from the other key or code holder.

Humanist Community of Central Ohio Financial Policy & Procedure, last reviewed 5/16/11