It is the responsibility of the Board of Directors to formulate financial policies and review
operations and activities on a periodic basis.

The Board delegates this oversight responsibility to the Treasurer of the Board and the
Finance Committee of which the Treasurer is the Chair. This responsibility is shared through
delegation with the Agency’s President & CEO and Director of Finance.

The President & CEO acts as the primary fiscal agent, implementing all financial policies and
procedures. The President & CEO, with oversight of The Finance Committee is responsible
for the coordination of the following: Annual budget presentation, management of the
Endowment and other fund investments, selection of the outside auditors, and approving
revenue and expenditure objectives in accordance with the Board approved long-term

The Director of Finance, with oversight by the President & CEO, has the day-to-day
operations responsibility for managing Agency funds, ensuring the accuracy of the
accounting records, internal controls, following policies, financial statement preparation,
and bank reconciliation review and approval.

The Director of Finance is responsible for oversight of the following: preparation of the
Chart of Accounts, Reporting Formats, Accounts Payable Processing, Payroll input and
Payroll processing, Cash Receipts input as well as, Journal Entries for General Ledger, Form
1099 reporting, and Form 990 reporting as well as Bank Reconciliations. The Vice President
of Administration is responsible for Form 5500 reporting. The Director of Finance will
provide on a quarterly basis to the Finance Committee the following reports: Balance
Sheet, Statement of Activities, Cash Report, and Debt Compliance Report.