KOI Financial Policies and Procedures: Difference between revisions
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== Cash Management == | == Cash Management == | ||
=== Cash Management Policy === | |||
==== Managing Cash Flow ==== | |||
The cash in and out is an important factor for the sustainability of the organization. In order for KOI to continue on as an organization, the organization needs to be able to meet the following obligations (by priority): | |||
# Budgeted Monthly Evacuee Expenses | |||
# Budgeted Monthly Payroll Expenses (if it exists) | |||
# Budgeted Monthly Rent Expenses (if renting a building) | |||
If there is ever a low cash balance for the organization, the Finance Committee must create a | |||
==== Bank Account Balances ==== | |||
==== Petty Cash Handling ==== | |||
== Organization Budgeting == | == Organization Budgeting == | ||
To have a functioning Non-profit, a composed budget is required every year for KOI. A budget must be composed also for Grant applications, and to strengthen the internal controls of the organization. | To have a functioning Non-profit, a composed budget is required every year for KOI. A budget must be composed also for Grant applications, and to strengthen the internal controls of the organization. | ||