FINANCIAL REVIEW PROCESS
FINANCIAL REVIEW PROCESS
ONGOING ACTIVITIES
• F & A completes monthly review and reports
• CCA Board reviews monthly report
• Income Statement and Balance Sheet to MAs monthly
• F & A Chair updates at CCA Chair / MA Presidents monthly calls
FINANCIAL REVIEW PROCESS
VARIANCE REPORTING
• Level of materiality $25,0000 or 1/3 %
• CEO identifies variances
• CEO provides cause and corrective action
FINANCIAL REVIEW PROCESS
POLICY REVIEW AND DEVELOPMENT
• F & A annually reviews applicable ELs and BGs
• F & A continually reviews policy for risk reduction & process improvement
FINANCIAL REVIEW PROCESS
AUDITED FINANCIAL STATEMENTS• F & A, CCA Auditors, CEO, COO, have a pre-audit meeting• Independent audit of Operations occurs• CCA Auditor and F & A review audit results• CCA Auditor and Board review audit results• CCA Auditor attends NCC Business session• F & A presents financial results to NCC/AGM• Event audits are completed in the Fall• CCA Board accepts event audited statements• F & A reports event audit compliance to MAs
FINANCIAL REVIEW PROCESS
BUDGET COMPLIANCE
• F & A reviews CCA operational budget for compliance• CCA Auditors reviews and confirms items during audit• F & A provides report to CCA Board• CEO presents budget to CCA Board• CCA Board confirms compliance