an interactive exploration of swcd financial management
TRANSCRIPT
An interactive exploration of
SWCD Financial Management
FINANCIAL
500 500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100 100 100
200 200 200 200 200 200
300 300 300 300 300 300
400 400 400 400 400 400
FUNDING SOURCES
100
Under this category, many SWCDs receive money from its localities/counties in exchange
for technical assistance…..
What is local government funding?
500 500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100 100
200 200 200 200 200 200
300 300 300 300 300 300
400 400 400 400 400 400
FUNDING SOURCES
200
Examples of this funding source include essential operating funds,
the Virginia agricultural BMP cost-share disbursements, and
technical assistance administered through the Department of Conservation & Recreation
(DCR)…..
What is state government funding?
500 500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100 100
200 200 200 200 200
300 300 300 300 300 300
400 400 400 400 400 400
FUNDING SOURCES
300
The Conservation Reserve Enhancement Program (CREP)
is administered through this type of funding…..
What is federal government funding?
500 500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100 100
200 200 200 200 200
300 300 300 300 300
400 400 400 400 400 400
FUNDING SOURCES
400
Local businesses, non-profit organizations, and general sponsorships fall into this
category…..
What is private grant funding?
500 500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100 100
200 200 200 200 200
300 300 300 300 300
400 400 400 400 400
FUNDING SOURCES
500
This source of revenue varies from district to district, but may
include plant sales, rental of conservation equipment and/or
rain barrel workshops...
What is in-house fundraising?
500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100 100
200 200 200 200 200
300 300 300 300 300
400 400 400 400 400
KEY PLAYERS
100
The Department of Conservation & Recreation (DCR) liaison for disbursement of state funding.
Who is the Conservation District Coordinator (CDC)?
500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100
200 200 200 200 200
300 300 300 300 300
400 400 400 400 400
KEY PLAYERS
200
This individual(s) provides daily receipt of revenues, payment of
obligations, and prepares financial reports.
Who is the Administrative Staff?
500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100
200 200 200 200
300 300 300 300 300
400 400 400 400 400
KEY PLAYERS
300
This individual oversees financial operations and provides a monthly report to the SWCD
Board of Directors…
Who is the Treasurer?
500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100
200 200 200 200
300 300 300 300
400 400 400 400 400
KEY PLAYERS
400
This group is responsible for the preparation of the annual budget
and revisions as needed for SWCD Board of Directors
approval…
What is the Finance Committee?
500 500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100
200 200 200 200
300 300 300 300
400 400 400 400
KEY PLAYERS
500
This group approves the budget and necessary revisions; reviews
reports on a monthly basis…
What is the SWCD Board of Directors?
500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100 100
200 200 200 200
300 300 300 300
400 400 400 400
CHART OF ACCOUNTS
100
Revenue, funding, and interest fall under this classification…
What is income?
500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100
200 200 200 200
300 300 300 300
400 400 400 400
CHART OF ACCOUNTS
200
This classification tracks costs associated with day to day operations and projects…
What is an expense?
500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100
200 200 200
300 300 300 300
400 400 400 400
CHART OF ACCOUNTS
300
These holdings can be accessed quickly and easily converted into
cash…
What are liquid assets?
500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100
200 200 200
300 300 300
400 400 400 400
CHART OF ACCOUNTS
400
A long-term, tangible piece of property, not consumed, or sold
during the normal course of business…
What are fixed assets?
500 500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100
200 200 200
300 300 300
400 400 400
CHART OF ACCOUNTS
500
Current and/or projected obligations…
What are liabilities?
500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100 100
200 200 200
300 300 300
400 400 400
FINANCIAL TOOLS
100
Accounting software that enables its users to create and track a
budget, enter transactions, process payroll, generate
computer checks, and produce individualized financial
reports…
What is QuickBooks™?
500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100
200 200 200
300 300 300
400 400 400
FINANCIAL TOOLS
200
Developed prior to the beginning of a fiscal year, this document
includes all revenues and disbursements; it should be updated when significant
changes are known, and should be tracked with monthly
reporting…
What is a Budget?
500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100
200 200
300 300 300
400 400 400
FINANCIAL TOOLS
300
A statement of financial position; reflects assets and liabilities…
What is a Balance Sheet?
500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100
200 200
300 300
400 400 400
FINANCIAL TOOLS
400
A current listing of equipment and other fixed assets owned by
the SWCD; updated on a minimal annual basis…
What is an Inventory?
500 500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100
200 200
300 300
400 400
FINANCIAL TOOLS
500
A biennial investigation of all financial records; performed by a third-party who provide a written findings/recommendations report.
What is an audit?
500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100 100
200 200
300 300
400 400
REPORTING REQUIREMENTS
100
Individualized reports such as the Treasurer’s Report, customized
to the needs of the SWCD Board of Directors..
What are internal reports?
500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100
200 200
300 300
400 400
REPORTING REQUIREMENTS
200
As a condition of funding, these contributors may require timely, itemized accountings of funds received and disbursed; each may have its own reporting
mechanism..
Who are grantors?
i.e. local, state, federal government, or private
organizations
500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100
200
300 300
400 400
REPORTING REQUIREMENTS
300
A series of financial reports related to the employment of Staff with monthly, quarterly,
and annual deadlines.
What are payroll reports?
500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100
200
300
400 400
REPORTING REQUIREMENTS
400
An annual IRS form used to document payments made to producers participating in the
Virginia Agricultural BMP Program.
What is a 1099-G?
500 500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100
200
300
400
REPORTING REQUIREMENTS
500
Although not commonly thought of, one of the few taxes SWCDs may be required to collect and
report on…
What is Sales Tax?
500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
100
200
300
400
POLICIES
100
A written resource manual outlining employer expectations
and guidelines..
What is a Personnel Policy?
500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
200
300
400
POLICIES
200
This policy provides guidelines established by the SWCD Board of Directors for the purchase of
goods and services…
What is a Procurement Policy?
500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
300
400
POLICIES
300
Risk management devices that address specific liability threats such as automobile accidents,
fire, and worker’s compensation.
What are Insurance Policies?
500
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
400
POLICIES
400
A federal law that allows for the full or partial disclosure of
previously unreleased information and documents..
What is the Freedom of Information Act (FOIA)?
FUNDING SOURCES
CHART OF ACCOUNTS
REPORTING REQUIREMENTS
KEY PLAYERS
FINANCIAL TOOLS
POLICIES
500
POLICIES
500
Enacted by the General Assembly to define and prohibit
inappropriate conflicts and require economic disclosure by all state and local officers and
employees…
What is the State and Local Government Conflict of
Interest Act (COIA)?
This episode of Financial Jeopardy! has been brought to you by:
Northern Neck SWCD in cooperation with
Virginia Association of Soil & Water Conservation Districts….
Executive Producer: Kathy ClarkeChief Editor: J.C. Berger
www.nnswcd.org (804) 333-3525, x102