POLICIES AND PROCEDURES The Board of Directors of the San Joaquin Valley Clean Energy Organization (SJVCEO) has adopted, and from time to time amended, the following policies and procedures. These policies and procedures are designed to insure that SJVCEO operates in a consistent and prudent manner year after year. Original Date of Adoption: December 1, 2009 Date of Subsequent Amendments: Finance and Accounting Policies and Procedures Accounting method
SJVCEO shall use the “accrual” system of accounting
Annual review of financial records
If finances permit, the SJVCEO Board shall arrange to have SJVCEO’s books reviewed by a Certified Public Accountant. If finances don’t permit such an outside audit, the SJVCEO Treasurer shall provide an annual internal review of SJVCEO’s books.
Assets, depreciation of
Assets will be expensed rather than depreciated whenever possible.
inventory of
The Board shall review a list of SJVCEO’s assets annually and make adjustments when warranted
Auditor, selection of
The SJVCEO Board shall approve the selection of, or change of, outside audit firms
Bank, selection of
The selection of, or change in, banks requires approval of the SJVCEO Board.
statement reconciliation
Bank statements shall be reconciled each month. Payees on any checks that remain outstanding after 60 days will be contacted to see about the status of the checks. If necessary, stop payments shall be placed on any outstanding checks that need to be reissued.
Books
SJVCEO Board members are entitled to review SJVCEO’s books after giving the Treasurer 5 business days’ notice
Budget
The SJVCEO Board shall adopt a budget for each fiscal year on or before June 30 Expenditures contained in an approved budget do not need to be approved again by the SJVCEO Board when the time comes to make those expenditures. Expenditures that are NOT contained in an approved budget require approval of the SJVCEO Board.
Checking account
To every extent possible, SJVCEO shall maintain approximately three months of average monthly operating expenses in SJVCEO’s checking account. If and when needed, the SJVCEO Treasurer is authorized to transfer funds out of reserves into the checking account to maintain a minimum level to cover an average of three months’ of operating expenses. If funds in the checking account exceed this minimum level, the Treasurer is authorized to transfer the excess in the general checking account into reserves.
Check requests
Requests for SJVCEO checks shall be submitted to the Executive Director on SJVCEO’s check requisition form. The submission should include all applicable backup documentation and every effort should be made to give the Executive Director ample time to process the check request.