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Finance Committee. An annual budget is being designed for the upcoming fiscal period <br />starting July 1, 2008 and will assist in capturing the fiscal plan against the actual results. <br />2. Attach a copy of the procurement policies and procedures. <br />OCF's Procurement Procedures are included in this proposal. <br />3. What systems are used to ensure fiscal accountability and appropriate expenditures, and <br />planned costs? <br />Budgeting is used to determine planned costs and monthly reporting against budget to <br />determine how we are doing compared to plan. All expenditures should be built into the <br />budget process and additionally require supervisory approval prior to payment. <br />Secondary approval occurs during the check signing process. Also, OCF's contracts with <br />the County of Orange are audited by the Orange County Social Services Agency each <br />year and our agency is audited annually by independent, external auditors. <br />4. Describe invoicing process and list staff assigned to task. <br />Accounting staff run reports of expenditures incurred during the invoice period and <br />prepare an invoice based on the costs incurred as allowed by the contract. A draft of the <br />invoices as prepared, are reviewed by the program staff who are directly responsible for <br />the contract prior to submission to the particular agency. <br />5. Describe how agency's financial stability is not dependent on WIA funds. <br />The Orangewood Children's Foundation's (OCF) financial stability is not dependent on <br />WIA funds. This organization has been in existence for over 25 years with a current <br />annual operating budget of over eight million dollars. OCF receives funding from <br />multiple funding sources including government grants, private and corporate donors, joint <br />business ventures, event fundraisers, etc. Additionally, we own our facility and lease <br />available space to tenants which greatly contributes to the cost of our mortgage and <br />utilities. <br />6. Submit most recent/2 years of audited financial statements (see attachment G). <br />OCF's most recent 2 financial audited financial statements are included in this proposal. <br />D. Subcontracting <br />Subcontracting client services/activities is not permissible under this contract. However if <br />planning to subcontract non -client services, identify subcontracts role and estimated cost for <br />services. <br />The Orangewood Children's Foundation is not planning to subcontract non -client <br />services. <br />OCF/Foster Youth Liaison Project 16 <br />