Transparent handling of the ANA’s income, expenses, cash, etc. with clear duties and checks and balances built in.
- Finances are overseen by the ANA Treasurer, contract Bookkeeper/Accountant, and contract Coordinator.
- The ANA keeps two bank accounts:
- One (called the NRP Account) is for city-funded activities and city payments.
- The second (called the Cash Account) is an unrestricted cash account for expenses that aren’t eligible for City reimbursement. This account also functions as the organization’s reserves.
- Spending & Expenses:
- Expenses are tracked in Quickbooks and receipts and invoices are saved in the ANA Finance Google Drive folder.
- Contract staff and volunteers buy supplies and materials and request reimbursement from the Treasurer.
- The Coordinator can spend up to $100 per month without Board approval as long as the expense fits into the approved ANA Annual Budget. Anything above this $100 per month threshold needs Board approval.
- Committees will receive an annual budget for their City-eligible supplies, expenses and printing costs.
- Committees will report on their spending to the ANA Board.
- Any spending beyond City-eligible expenses (like food) or above the annual budget amount requires Board approval.
- In order to get reimbursement, Committee members will have to submit receipts using the ANA Reimbursement Form.
- Donations and payments to the organization are taken through PayPal, Mighty Cause (GiveMN), Square, personal check, and cash.
- Money handling:
- At events, money is handled and checked by two people.
- All deposits are brought to the Treasurer who then deposits them into the Cash Account.
- Email communication about finances should have “ANA” in the subject line.
Division of Responsibilities
- Bookkeeper/Accountant will enter and track expenses and income in Quickbooks early in the month.
- Code expenses to appropriate City budget or cash account line items.
- Attach receipts and invoices to Quickbooks expenses from the ANA Receipts & Invoices Google Drive folder.
- Track donations from sales as well as City reimbursements and record donors’ names in Quickbooks.
- Run monthly budget reports for board that include:
- Balance sheet.
- Profit and loss.
- Monthly expenses.
- YTD spending.
- Budget balance for Neighborhood Network Fund, Equitable Engagement Fund, Neighborhood Priorities Program funds, and Neighborhood Revitalization Program contracted funds.
- Payment Requests:
- Run reports for City expense reimbursement.
- Complete City payment requests monthly and send to Coordinator and Treasurer for review (~three days).
- Send final payment requests to the City for reimbursement.
- Save copies of payment requests in the ANA Google Drive Payment Request folder
- Prepare and file tax documents, Attorney General filing in partnership with the Coordinator, 1099s for contractors and the ANA’s 990-EZ.
- Serve as primary contact for ANA bank accounts.
- Deposit checks, cash payments, and donations in the ANA Cash Account.
- Pull and send monthly bank statements for ANA NRP and Cash Accounts to the President, Vice President, Secretary, Coordinator, and Bookkeeper/Accountant.
- Get petty cash for events as needed.
- Order more checks for ANA NRP and Cash accounts as needed.
- Report outstanding checks to Coordinator and Bookkeeper/Accountant.
- Announce bank balances to the ANA Board.
- Check ANA Quickbooks regularly.
- Approve contract staff invoices and expenses.
- Vet expenses and reimbursement requests (confirming that they are Board approved and Coordinator is aware).
- Write and send checks on behalf of the ANA.
- Request ANA mailing supplies as needed.
- Enter outgoing checks, donations and deposits in a digital register in the ANA Google Drive Finance folder.
- Manage budget and spending for the organization:
- Prepare a draft annual budget that documents to which City contract expenses will be billed.
- Ensure spending is approved and does not exceed budget items.
- Help committees budget and request board approval for expenses/events.
- Track funds under contract at the City in NRP, NPP and other contracts.
- Coordinate Plan Modifications, budget transfers and required City documentation once approved by the ANA Board.
- Receipts, invoices and donations:
- Scan all receipts for reimbursement and invoices that require payment and save in the ANA Receipts & Invoices Google Drive Folder.
- Let the Treasurer know when invoices or reimbursement requests are ready for payment.
- Provide Bookkeeper with reports from Square, MightyCause, PayPal and any other financial services.
- Send donation thank yous by email or letter that includes the ANA’s nonprofit status, EIN number and the donation amount.
- Coordinate with the Treasurer and Bookkeeper/Accountant to obtain contact information, donation amounts, and to send thank you letters as needed.
- Reimbursement & Tracking Staff Time:
- Assist board and committee members in submitting expense reports and receipts through an ANA reimbursement request Google Form.
- Track expenses for reimbursement and send pdfs with receipts and expenses categories.
- Prepare detailed monthly invoices that track staff time and code to the appropriate City contract.
- Provide the Treasurer with stamps, envelopes, ANA return address labels.
- City contract documentation:
- Coordinate with the Board (usually the President) to sign City contracts.
- Send Plan Mod requests.
- Monitoring budgets and initiating Plan Mod processes if budgets for ANA programs run low.
- Scan and file all digital copies of Plan Mod letters, City contract amendments, etc.
Approval & Adoption
Approved and adopted by a vote of the Board of Directors at a properly conducted meeting.
Secretary: Nikki Lindberg
Date: November 16, 2021
Revision History: n/a