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EXHIBIT 3 <br /> 21 HB Fiscal Polices Et Procedures <br /> FSecti•n 5: Accounts PayableDisbursements • <br /> A. Overview <br /> This section refers to the payment of all purchases in which a vendor invoices for goods or <br /> services. Some portions of this section also apply to the reimbursement of expenses to HB <br /> employees and the payment of HB-issued credit card statements. HB maintains an appropriate <br /> segregation of duties, as included in the procedures, to ensure checks and balances in the <br /> accounts payable process. <br /> B. Policies Et Controls <br /> 1. Only make and record authorized and accurate disbursements. <br /> 2. Appropriate individuals with fiscal oversight and fiduciary responsibility to the organization <br /> review and approve all major expenditures. <br /> C. Process Description <br /> Vendor Invoices Et Payments to Participants <br /> HB selects vendor invoices based on due dates, discounts available, and availability of cash and <br /> confirms that that the goods arrive within a reasonable period after ordering. Services may <br /> include payment prior to delivery, per the agreement. HB processes payments without the vendor <br /> invoice or participant voucher only on an exception basis approved by the Director of Finance. <br /> Staff must attach a Payment Request Form to each vendor invoice and include the following for <br /> recording in the accounting system: <br /> • General ledger account(s) <br /> • Class <br /> • Project/activity <br /> • Payment date <br /> HB also provides stipends to participants for training and childcare. HB processes payments based <br /> off of the approved the Master Training Stipend Roster and Childcare Check Request Forms. <br /> Check Processing <br /> HB keeps blank check stock in a secure, locked location with access limited to the Director of <br /> Finance, Staff Accountant, and Accounting Clerk. Online Bill Payment is used for pre-approved <br /> recurring charges, vendor payments greater than $5,000, and the reissuance of lost payments. The <br /> Director of Finance also uses Online Bill Payment for vendors that do not accept checks. When <br /> appropriate, the Executive Director makes payments electronically (i.e., ACH or wire transfer) <br /> rather than by check or Online Bill Payment. <br /> Signatures on checks and releases for wire transfers are obtained in accordance with the approval <br /> authorization guidelines below. Checks and BillPay payments are processed weekly. <br />