Finance
CSF is committed to responsible stewardship of all resources entrusted to the organization. CSF will ensure that all financial activities are conducted with integrity, transparency, and accountability, and that expenditures advance CSF’s mission to protect children.
Oversight and Authority
The Board of Directors retains full authority over the design, approval, and oversight of CSF’s financial activities.
The Board holds variance power to redirect funds as needed to fulfill CSF’s exempt purpose.
Delegation of Duties
By majority vote, the Board may delegate financial planning and management tasks to a committee or designated staff.
This delegation may be amended or revoked by the same voting process.
Financial Reviews
At least quarterly, the Board will conduct a formal review of CSF’s financials to ensure compliance with CSF’s mission and IRS regulations.
Annual Filings
CSF will file all required tax documents annually, including Form 990 or 990-EZ, in accordance with IRS guidelines.
Documentation
All financial decisions must be documented in meeting minutes or official records, including any votes regarding budget design or financial oversight.
Allowable and Prohibited Costs
CSF will only reimburse or obligate funds for costs that are:
Reasonable and necessary to carry out CSF’s mission.
Properly documented with supporting records.
Allocable to the program or activity for which they are incurred.
CSF will not use organizational funds for:
Alcoholic beverages.
Lobbying activities.
Fundraising or development expenses outside the approved budget.
Luxury or personal expenses unrelated to CSF business.
Certain grants may impose additional restrictions. Where applicable, CSF will publish grant-specific compliance addenda in the Grant Portal.
Approval of Expenditures
All expenditures must be pre-approved by authorized personnel consistent with CSF’s financial delegation of authority.
Major expenditures (e.g., contracts, subawards, equipment purchases) require approval by both program and finance staff to ensure alignment with budget and compliance requirements.
Documentation and Recordkeeping
All financial transactions must be supported by original documentation (receipts, invoices, contracts, payroll records).
Records must clearly identify the funding source and purpose of the expense.
Financial records will be maintained for at least five years to ensure accountability and audit readiness.
Budgeting and Financial Planning
CSF will prepare annual operating budgets approved by the Board of Directors.
Program budgets will be tied to specific objectives and deliverables, with regular monitoring to prevent over- or under-spending.
Budget modifications must be documented and approved according to CSF’s delegation of authority.
Internal Controls
Segregation of duties will be maintained so that no single individual has authority over an entire financial transaction (authorization, custody, and recordkeeping).
Bank reconciliations will be conducted monthly and reviewed by management.
All financial reporting will be subject to oversight by the Board Treasurer and Finance Committee.
Transparency and Reporting
CSF will produce regular financial reports for leadership and the Board, ensuring accountability to funders, partners, and the public.
All required financial reports to government or private funders will be accurate, timely, and consistent with CSF’s official records.
Enforcement
Violations of this policy, including unauthorized or unallowable expenditures, may result in disciplinary action, corrective measures, or reimbursement obligations. Significant issues will be reported to the Board of Directors and, where required, to funding authorities.
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