104 Annual Appropriations and Expenditures
Original Approval Date: November 19, 1997
Revision Effective: April 16, 2014
Supersedes: #104, July 15, 2009
Reviewed: March 18, 2015
The Board must annually appropriate funds received and develop budgets and spending priorities. This policy establishes account limits and Executive Director authority.
It is the policy of the Board that its operating/fiscal year is July 1st to June 30th. Each year a revenue budget and an expense budget will be developed based upon anticipated program revenue and community plan expenses. In addition, other accounts shall be established with the county auditor’s office in accordance with Ohio law and sound principles of operation.
Annually the Board shall approve budgets for contract services, administration, other agreements, Board services to agencies, an operating reserve, a capital reserve and a levy campaign reserve. Budgets shall be presented to the Finance Committee and Board along with a budget narrative to explain line items in more detail.
Each of these major accounts may have sub-accounts as necessary to assure smooth operation. The Operating Reserve Account shall be kept at an acceptable level to assure adequate cash flow for Board operations. The Capital Reserve account shall be maintained as needed for Board projects and shall include a sub-account Capital Reserve for Board Owned Properties. The Levy Campaign Reserve shall be utilized to set aside and accumulate funds in preparation for levy campaigns. These accounts are restricted in nature and funds from these accounts may not be budgeted without Board authorization. The Operating Reserve shall be 17% of the Board’s total annual operating budget. The Board shall determine the amount of the Capital Reserve and Levy Campaign Reserve as needed.
The Board delegates the authority to the Executive Director to produce such appropriations, reports and budgets that the county or state government might require for its operations by converting from the July 1st to June 30th fiscal year and to such other fiscal year dates as other governmental authorities might require. The Executive Director has the authority to approve expenditures of any previously budgeted and approved Board funds as necessary for the proper operation of the Board. The Executive Director may further designate additional Board staff to authorize expenditures within approved budgets.
Administrative budget revisions will only be required if expenditures in any line item (except salaries) exceed the line item budget figure by more than 20% or if the total budget needs to be increased. Reports and financial statements will be produced at least monthly which show all revenues, expenditures and account balances.
It is the responsibility of the Executive Director to oversee the finances of the Board in a sound manner. All state and federal laws and Board policies will be followed in the expenditure of Board funds. The Executive Director will report to the full Board monthly and to the general public at least annually all expenditures made by the Board.
Revision Effective: April 16, 2014
Supersedes: #104, July 15, 2009
Reviewed: March 18, 2015
The Board must annually appropriate funds received and develop budgets and spending priorities. This policy establishes account limits and Executive Director authority.
It is the policy of the Board that its operating/fiscal year is July 1st to June 30th. Each year a revenue budget and an expense budget will be developed based upon anticipated program revenue and community plan expenses. In addition, other accounts shall be established with the county auditor’s office in accordance with Ohio law and sound principles of operation.
Annually the Board shall approve budgets for contract services, administration, other agreements, Board services to agencies, an operating reserve, a capital reserve and a levy campaign reserve. Budgets shall be presented to the Finance Committee and Board along with a budget narrative to explain line items in more detail.
Each of these major accounts may have sub-accounts as necessary to assure smooth operation. The Operating Reserve Account shall be kept at an acceptable level to assure adequate cash flow for Board operations. The Capital Reserve account shall be maintained as needed for Board projects and shall include a sub-account Capital Reserve for Board Owned Properties. The Levy Campaign Reserve shall be utilized to set aside and accumulate funds in preparation for levy campaigns. These accounts are restricted in nature and funds from these accounts may not be budgeted without Board authorization. The Operating Reserve shall be 17% of the Board’s total annual operating budget. The Board shall determine the amount of the Capital Reserve and Levy Campaign Reserve as needed.
The Board delegates the authority to the Executive Director to produce such appropriations, reports and budgets that the county or state government might require for its operations by converting from the July 1st to June 30th fiscal year and to such other fiscal year dates as other governmental authorities might require. The Executive Director has the authority to approve expenditures of any previously budgeted and approved Board funds as necessary for the proper operation of the Board. The Executive Director may further designate additional Board staff to authorize expenditures within approved budgets.
Administrative budget revisions will only be required if expenditures in any line item (except salaries) exceed the line item budget figure by more than 20% or if the total budget needs to be increased. Reports and financial statements will be produced at least monthly which show all revenues, expenditures and account balances.
It is the responsibility of the Executive Director to oversee the finances of the Board in a sound manner. All state and federal laws and Board policies will be followed in the expenditure of Board funds. The Executive Director will report to the full Board monthly and to the general public at least annually all expenditures made by the Board.
