First 5 Guide. FINAL.8-10-09 with audit change

Utte

Informations

• Publié par: Nifor
• Nombre de lectures: 21
• Langue: English

Extrait

First 5 Association of California







Financial Management Guide
Second Edition, 2009
TABLE OF CONTENTS

TABLE OF CONTENTS .............................................................................................................................. 1
PREFACE TO THE SECOND EDITION...................................................................................................... 4 ACTHE FIRST EDITION........................................................................................................... 5
INTRODUCTION ......................................................................................................................................... 8
CHAPTER 1: CONTRACTING.................................................................................................................... 8
1.1. INTRODUCTION... 9
1.1.1. Provider Selection Principles.................................................................................................. 9
1.2. POLICY STATEMENT ............................................................................................................ 10
1.2.1. Contracting and Procurement Policies ................................................................................. 10
1.3. PROCEDURES....................................................................................................................... 11
1.3.1. Provider Selection ................................................................................................................ 11
1.3.2. Evaluation of Proposals.......................................................................................... 17
1.3.3. Notification and Appeals.............................................................................................. 18
1.3.4. Contracts .............................................................................................................................. 19
1.3.5. Performance Monitoring and Reporting................................................................................ 21
1.3.6. Contractor Payments............................................................................................................ 24
1.4. MODEL DOCUMENTS ........................................................................................................... 26
1.5. RESOURCES .............................................................................................................................. 26
CHAPTER 2: INVESTMENT MANAGEMENT 27
2.1. INTRODUCTION.............. 27
2.1.1. Types of Investment Risk ..................................................................................................... 27
2.2. POLICY STATEMENT ................................................................................................................. 28
2.3. PROCEDURES............................................................................................................................ 29
2.3.1. Written Investment Policy .................................................................................................... 29
2.3.2. Responsibility for Investment Management.......................................................................... 31
2.3.3. Permissible Types of Investments........................................................................................ 32
2.3.4. Use of the Local Agency Investment Fund (LAIF)......................................................... 33
2.3.5. Maturities of Investments............................................................................................... 35
2.3.6. Internal Controls for Investment Management...................................................................... 36
2.3.7. Safekeeping.......................................................................................................................... 36
2.3.8. Investment Performance Benchmarks.................................................................................. 37
2.3.9. Investment Reporting to the Commission............................................................................. 37
2.3.10. Selection of Investment Advisors........................................................................................ 38
2.4. MODEL DOCUMENTS ................................................................................................................ 41
2.5. RESOURCES .............................................................................................................................. 41
CHAPTER 3: PLANNING AND BUDGETING........................................................................................... 43
3.1. OVERVIEW.................................................................................................................................... 43
3.2. STRATEGIC PLAN ...................................................................................................................... 43
3.2.1. Introduction................. 43
3.2.2. Policy Statement................................................................................................................... 44
3.2.3. Procedures ........................................................................................................................... 44
3.2.4. Model Documents................................................................................................................. 45
3.2.5. Resources ............................................................................................................................ 46
3.3. LONG-TERM FINANCIAL PLAN.................................................................................................. 46
3.3.1. Introduction................. 46
3.3.2. Policy Statement............. 46
3.3.3. Procedures............... 46
3.3.4. Model Documents and Examples.......................................................................................... 47
3.3.5. Resources............... 48
3.4. BUDGET.................... 48
3.4.1. Introduction........................................................................................................................... 48
3.4.2. Policy Statement................................................................................................................... 48
3.4.3. Procedures ............................................................................................................................ 49
3.4.4. Model Documents and Examples......................................................................................... 51
3.4.5. Resources............... 52
CHAPTER 4: ACCOUNTING ................................................................................................................... 53
4.1. INTRODUCTION.......................................................................................................................... 53
4.2. POLICY STATEMENT ................................................................................................................. 53
4.3. GENERAL ACCOUNTING PROCEDURES................................................................................. 53
2
4.3.1. Generally Accepted Accounting Principles (GAAP).............................................................. 54
4.3.2. Fund Accounting................................................................................................................... 54
4.3.3. Modified Accrual Basis of Accounting....................................................................................55
4.3.4. Account Classification .......................................................................................................... 56
4.3.5. Program Accounting ............................................................................................................. 58
4.3.6. Cost (Expense) Allocation .................................................................................................... 58
4.3.7. Budgetary Control................................................................................................................. 60
4.3.8. Internal Controls.............. 61
4.4. SPECIFIC ACCOUNTING PROCEDURES ................................................................................. 61
4.4.1. Cash ..................................................................................................................................... 61
4.4.2. Petty Cash........................................................................................................................... 62
4.4.3. Accounts Receivable ........................................................................................................... 62
4.4.4. Investments ......................................................................................................................... 63
4.4.5. Capital Assets....................................................................................................... 63
4.4.6. Purchasing and Payables.................................................................................................... 64
4.4.7. Payroll ................................................................................................................................. 65
4.4.8. Compensated Absences ...........................................