TALLER SAN JOSE (3) - 2010 - Laserfiche WebLink

Home Browse Search

The OCCC uses fund accounting to allocate, capture, and report fiscal data. Since the OCCC has multiple revenue streams (federal, state, and local), fund accounting allows expenses to be tracked and allocated to individual funding sources using a specific fund account and project code(s) for that fund account. The Santa Ana WIA contract will be assigned a specific fund number and a specific project code(s). All allowable expenses will be tracked using the assigned project code(s). Therefore, direct program costs such as staff time, corps member stipends, employer taxes, and other expenses will be tracked using the appropriate fund and project code(s) on time sheets. Costs for occupancy 01' transportation that are not easily tracked with project codes will be allocated on a percentage basis of work hours charged to the fund. For example, ifthe fund accounts for 10% of the total hours for that month, the fund will be allocated 10% of the occupancy and transpOltation costs for that month. The OCCC captures and reports fiscal data to the OCCC Board of Directors monthly and invoices contracts on a monthly basis. The oecc undergoes several program audits and an independent financial audit each year. Please see attached copies of both the last 2 independent audits and the procurement policy and procedure. The oecc ensures accountability and that expenditures are appropriate and plamled. Budgets and line item accounts to track expenses are maintained on a monthly basis for all OCCC contracts/grallts/depattments. All purchase requests are reviewed by ~he OCCC Director of Finance before payment is made. Any Purchase Request that appears to be over budget or not planned will be flagged by the Director of Finance and reviewed by the Executive Director for final approval. The Director of Finance reviews monthly financials with the entire management team and with the Board of Directors monthly. 88% of ocec funding is allocated directly to program expenses. Almost half of the aecc funding comes from grant sources that the Corps has received annually for the past 11 years. Furthermore, an additional 12% of funding comes from fee-for-service contracts. The acce's Director of Finance prepares invoices between the 10th and 20th of each month for services provided in the previous month. All invoices are reviewed and approved by the Executive Director. D. Subcontracting Neither Taller San Jose nor OCCC will sub-contract client services or activities. EXHIBIT A 19 Jpomortd by f"~ SfSlm of SI. foupb ofOmllgt