This lesson will help you learn best practices for financial management and apply them to the areas of:

Ethical Handling of FundsCollecting Funds Making Purchases Monitoring Financial Activity

Ethics are rules of conduct.

Ethics principles are guidelines that help individuals know what is expected from those handling funds and what is and what is not acceptable.

Ethics are based on the values of the organization.

Lesson 1

Principles should be:simple, understandable, concise and

active.communicated to everyone who

handles or manages funds for the county.

reviewed periodically to identify any adjustments that are needed.

Using ethical standards could result in better community relationships as well as in a higher trust level among those in the organization.

Lesson 1

Training Class FeesNewsletter Subscriptions and Publications

Diagnostic Services: Plants, Soil and Water Testing

Fund RaisingFood and SnacksT-Shirt SalesOther Items

Lesson 2

Cash Receipt Form Pre-Numbered Date of Payment Payee Amount Method of Payment Program (Purpose) Cashier’s Name

Lesson 2

Designate Custodian (different than the person who collected funds)

Make Timely Deposits

Administrative Verification

Lesson 2

Not depositing funds intact Paying expenses out of collections before the funds are deposited Mixing change funds with revenue No designated custodian Not depositing funds timely Deposits not independently verified

◦ Cash receipts not pre-numbered◦ Cash receipts not used in numerical order◦ No supporting records necessary to facilitate

verification

Lesson 2

Received in good condition Billed to appropriate unit Original invoice Fair price Math is correct Signature of employee Pre-approval (if required) Tax exempt

Lesson 3

Voucher Invoice or receiptAdministrative approvalProper # of signaturesDo not pre-sign checksNo food or alcoholNot made out to “cash”

Lesson 3

No food or alcohol

Only card-holder or card-holder approval

Submit receipts in timely fashion

Lesson 3

To employees or pay registration, airline tickets, etc. directly

Approval of administrator

Employee submits receipts within a few days after returning

Administrater verifies advances in a timely manner

Lesson 3

Pre-sign checks

Making checks payable to cash

Not independently monitoring expenditures

Not saving expenditure documentation

Lesson 3

Use standard computer accounting program

Administrator compares bank statements with computer printout - monthly

Lesson 4

Types:◦In-kind◦Cash restricted or unrestricted?

Reporting:◦In-kind◦Cash◦What are the benefits of reporting?

Lesson 5

What exactly is an audit?

What will an auditor be evaluating?

Record of audit filed

What are some benefits to using an internal audit committee?

Lesson 6

DO NOT confront the suspected perpetrator

DO NOT investigate the case yourself

Work within your management chain of command,

Contact your supervisor