Goal

Transparent handling of the ANA’s income, expenses, cash, etc. with clear duties and checks and balances built in.

Financial Structure

• 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:
  • 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: 

• 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.

Treasurer:

• Bank:
  • 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.
• Oversight:
  • Check ANA Quickbooks regularly.
  • Approve contract staff invoices and expenses.
• Checks:
  • 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.

Coordinator:

• 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