Cover image for Model policies and procedures for not-for-profit organizations
Title:
Model policies and procedures for not-for-profit organizations
Author:
McMillan, Edward J., 1949-
Personal Author:
Publication Information:
Hoboken, NJ : John Wiley, [2003]

©2003
Physical Description:
xxiii, 275 pages ; 28 cm
Language:
English
ISBN:
9780471453178
Format :
Book

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HF5686.N56 M386 2003 Adult Non-Fiction Central Closed Stacks-Oversize
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Summary

Summary

The completely revised and expanded third edition of Model Accounting and Financial Policies Procedures Handbook will help nonprofit executives strengthen their organization's financial procedures while assuring board members that they are meeting fiduciary responsibilities. This process is streamlined by the more than 150 sample policies and forms included both in this book and on the accompanying web site (offering dowloadable and customizable versions of those forms). Major topics include internal financial statement forms, a chart of accounts, and accounting and financial policies and procedures manual, a glossary, and a full index.


Author Notes

Edward J. McMillan, CPA, CAE, is a nationally recognized speaker on not-for-profit financial and management topics and, in 1993, was appointed faculty chair for finance for the United States Chamber of Commerce's Institutes for Organization Management program


Table of Contents

List of Formsp. xix
Prefacep. xxi
Section 1 Internal Financial Statement Formatsp. 1
Statement of Financial Positionp. 3
Consolidated Statement of Unrestricted Activitiesp. 5
Statement of Unrestricted Activities by Functionp. 7
Statement of Temporarily Restricted Activitiesp. 9
Statement of Permanently Restricted Activitiesp. 10
Statement of Changes in Net Assetsp. 11
Section 2 The Chart of Accountsp. 13
Chart of Accounts Issuance Formp. 15
Assetsp. 16
Clearing Accountsp. 20
Liabilitiesp. 21
Net Assetsp. 23
Revenuesp. 24
Expensesp. 28
Functionsp. 34
Section 3 The Policies and Procedures Manualp. 37
Absenteeism and Tardinessp. 38
Accounting and Financial Internsp. 38
Accounting Computer File Back-Up Procedurep. 38
Accounting Information Releasesp. 41
Accounting Methodp. 41
Accounts Payable Accrualsp. 41
Accounts Receivable Write-Off Procedures and Authority (Bad Debts Procedures)p. 42
Acronymsp. 45
Affinity Programsp. 45
Age Discrimination in Employment Act (ADEA)p. 45
Alcohol and Controlled Substancesp. 46
Amendments to Policies and Proceduresp. 46
Americans with Disabilities Act (ADA)p. 47
Amortizationp. 47
Annual Leave Accrualp. 48
Annual Leave Paymentsp. 48
Antitrustp. 49
Antivirusp. 49
Approved Vendor Listingp. 49
Audit Committeep. 50
Automobile Insurancep. 50
Background Checks--Former and Current Employeesp. 50
Background Checks--Prospective Employeesp. 53
Ballotsp. 55
Bank Reconciliationsp. 55
Bank Statement Mailingsp. 56
Bartering Prohibitedp. 58
Bereavement (Funeral) Leavep. 58
Bid Requirementsp. 58
Board-Designated Fundsp. 61
Board of Directors' Examination of Recordsp. 61
Bonding of Employeesp. 61
Breaksp. 62
Budgetp. 62
Bulletin Boardsp. 62
Business Cardsp. 63
Business Interruption Insurancep. 63
By-Lawsp. 63
Cancellation of Purchase Orderp. 64
Capitalization Cutoff Pointsp. 66
Certificate of Authorityp. 66
Certificate of Insurancep. 68
Changeover Auditp. 68
Chart of Accountsp. 68
Check Disbursementsp. 71
Check Endorsement/Stampp. 74
Check Imprinter Machinep. 74
Check Preparation and Mailingp. 74
Check Signersp. 74
Check Stockp. 74
Check Supplyp. 76
Clearing Accountsp. 76
Code of Ethicsp. 77
Collection Proceduresp. 77
Committee Meeting Attendancep. 80
Committee Meeting Attendance by Membersp. 80
Computer Passwordsp. 80
Confidentiality of Informationp. 81
Confidentiality of Wagesp. 83
Conflict of Interest Formp. 83
Consolidated Omnibus Budget Reconciliation Act (COBRA)p. 85
Consumer Protection Actp. 85
Contract Signing Authorityp. 85
Contributionsp. 86
Control over Checks and Cashp. 86
Convention Cancellation Insurancep. 89
Correspondencep. 89
CPA Firms
Audited Financial Statementsp. 91
The Engagement Letterp. 93
The Management Letterp. 93
Selection of Firmp. 96
Use of Other Firmsp. 96
Credit Cardsp. 97
Credit Card Statementsp. 101
Credit Rating Releasep. 101
Data Processing Manualp. 101
Date and Time Received Stampp. 102
Deferred Revenuesp. 102
Depreciationp. 103
Disciplinary Actionp. 104
Discounts Lostp. 104
Discounts on Accounts Receivablep. 105
Discriminationp. 105
Diversityp. 106
Document Shreddingp. 106
Document Sign-Out Formp. 107
Donated Propertyp. 109
Dress Codep. 111
E-Mail and Internetp. 111
Emergency Contact Formp. 114
Employee Credit Cards (Elimination)p. 116
Employee Retirement Income Security Act (ERISA)p. 116
Endowment Fundsp. 116
Equal Opportunity Employerp. 117
Equal Pay Actp. 117
Errors and Omissions Insurancep. 117
Evaluations (Staff)p. 118
Executive Sessionsp. 118
Expense Reimbursements--Chief Staff Executivep. 118
Facilitiesp. 119
Fair Labor Standards Act (FLSA)p. 119
Family and Medical Leave Act (FMLA)p. 122
Fax Machinep. 122
Federal Identification Numberp. 122
Fidelity Bond (Employee Dishonesty Insurance)p. 123
Finance Department Employee Orientationp. 123
Financial Statement Preparation and Distributionp. 123
Fire Protectionp. 124
Form I-9 / Immigration Reform and Control Act (IRCA)p. 124
Forms Manual/Retired Forms Manualp. 125
Form W-4p. 126
Fringe Benefitsp. 126
Fringe Benefits Dayp. 127
General Liability Insurancep. 127
Giftsp. 128
Grants and Contractsp. 131
Grievances and Complaintsp. 131
Hold Harmless Agreementsp. 131
Holding Funds for Other Organizationsp. 133
Holidaysp. 133
Hours of Operationp. 133
Inclement Weatherp. 134
Independent Contractor Filesp. 134
Independent Contractorsp. 135
Injuries/Worker's Compensationp. 139
Insurancep. 141
Insurance Committeep. 141
Internal Auditp. 141
Inventory
Give-Awaysp. 142
Receivingp. 144
Valuationsp. 144
Write-Offp. 144
Investment Policyp. 147
IRS Forms
Form 990p. 149
Form 990-Tp. 151
Form 1099p. 151
Job Descriptionsp. 153
Journal Entriesp. 153
Jury Dutyp. 155
Key Employee Insurancep. 155
Key Employeesp. 155
Leasehold Improvementsp. 157
Leasesp. 157
Leave without Payp. 157
Leaving the Officep. 158
Legal Auditp. 158
Legal Counsel Attendance at Board Meetingsp. 159
Legal Protection for Board and Staffp. 159
Libel/Slanderp. 161
Lines of Creditp. 161
Loans Prohibitedp. 163
Lobbying Activities/Omnibus Budget Reconciliation Act (OBRA)p. 163
Lobbying Disclosure Act (LDA)p. 163
Lobbying Expendituresp. 164
Lockboxp. 164
Logop. 167
Long-Term Debtp. 167
Mailing List Salesp. 167
Malpractice Insurancep. 168
Management Dayp. 168
Mandatory Vacations/Leavep. 170
Manual Checksp. 170
Maternity Leavep. 170
Member Examination of Recordsp. 171
Military Obligationsp. 171
Minutes of Board and Committeesp. 172
Monthly Budget Meetingsp. 172
Musicp. 172
Music Licensingp. 173
Nepotismp. 173
Nicknamesp. 173
Nondeductibility of Duesp. 173
Nondistribution of Earningsp. 174
Nonsufficient Funds Checksp. 174
Occupancy Expensesp. 177
Occupational Safety and Health Act (OSHA)p. 177
Office Appearancep. 178
Office Equipmentp. 178
Officers and Directors Liability Insurancep. 180
Office Suppliesp. 180
Open Board of Directors Meetings (Sunshine Laws)p. 180
Optional Proxy Taxp. 180
Overhead Allocationp. 181
Ownership of Recordsp. 181
PAID Stampp. 182
Paternity Leavep. 182
Payroll Processingp. 183
Permanently Restricted Net Assetsp. 183
Permanent Travel Advancesp. 184
Permissions/Waiversp. 186
Personal Leavep. 188
Petty Cash Fund Disbursementp. 188
Photocopying Expensesp. 191
Plagiarismp. 193
Policy Amendment, Deletion, or Additionsp. 195
Political Action Committees (PACs)p. 197
Political Education Fundsp. 197
Positive Payp. 198
Postage Logp. 198
Postal Permitp. 198
Prepaid Expensesp. 200
Press Releases/Media Contactsp. 200
Professional Liability Insurancep. 202
Property Insurancep. 202
Public Examination of Recordsp. 202
Purchase Ordersp. 204
Quarterly Staff Meetingsp. 207
Quid Pro Quo Contributionsp. 207
Records Retentionp. 207
Reference Lettersp. 212
References (Former and Current Employees)p. 212
Refundsp. 212
Registered Agentp. 213
Reimbursement of Board/Committee Expensesp. 213
Remote Access to Computer Networkp. 214
Rentp. 216
Repairs and Improvementsp. 216
Reservesp. 217
Resignationp. 217
Return Policyp. 217
Safe and Safe Combinationp. 218
Safe Deposit Boxp. 221
Safety Committeep. 224
Salaries and Fringe Benefits Accrualsp. 226
Sales Tax Collectionp. 226
Sales Tax Exemption Certificatep. 226
Segregation of Dutiesp. 227
Serial Numbers (Fixed Assets)p. 227
Sexual Harassmentp. 227
Smokingp. 228
Software Licenses (Anti-Piracy)p. 228
Spousal Travelp. 228
Staff Conductp. 229
Staff Contact by Board Membersp. 229
Statutory (Legally Mandated) Employee Benefitsp. 230
Suggestionsp. 230
Taking Work Homep. 232
Telephone Expensesp. 234
Tellers' Committeep. 237
Temporarily Restricted Net Assetsp. 237
Temporary Employment Agenciesp. 237
Time Off to Votep. 240
Time Sheetsp. 240
Trademarkp. 242
Travel Advancesp. 242
Travel Expensesp. 244
Umbrella Insurancep. 249
Unannounced Bank Statement Reconciliationp. 249
Uniformed Services Employment and Reemployment Rights Act (USERRA)p. 249
Unrelated Business Income Tax (UBIT)p. 250
Unrestricted Net Assetsp. 251
Use of Premisesp. 251
Utilization of Office Equipmentp. 254
Voice Mailp. 256
Voided Checksp. 256
Wage Garnishmentsp. 258
Worker's Compensation Insurancep. 258
Write-Off of Old Checksp. 258
Wrongful Dismissal (Avoidance)p. 259
Year-End Manualp. 261
Glossary of Accounting and Financial Terminologyp. 263
Indexp. 269