SWART Accounting Manual.pdf

Adoption and Revision History

Adopted by Board of Directors: June 5, 2012
Revised by Board of Directors: September 3, 2014, December 16, 2015, August 30, 2017, August 21, 2019, May 20, 2020, and December 14, 2022

Table of Contents

1. General (Purpose, Policy Statement)
2. Internal Control (General, Internal Control Checklist)
3. Financial Policy and Administrative Responsibility (Responsibilities for Basic Policy Making, General Manager, Assistant General Manager, Chief Financial Manager)
4. Organization and Competency of Financial Personnel (Organizational Structure, Competency of Financial Personnel)
5. Financial Statements and Reports (General Standards, Fairness of Presentation, Compliance with Prescribed Requirements, Timeliness, Usefulness)
6. Overview of Accounting System and Internal Controls (Chart of Accounts, Cash Receipts, Cash Disbursements, Procurement, Purchase Order Procedure)
7. Budgetary Control and Cash Management (General, Budget Revisions, Grant/Contract Management, Direct and Indirect Costs, Cash Management, Line of Credit)
8. Maintenance of Financial Records (General, Record Storage)

Key Sections

Financial Statements and Reports: Includes standards for fairness of presentation, compliance with prescribed requirements, timeliness, and usefulness.
Overview of Accounting System and Internal Controls: Covers chart of accounts, cash receipts, cash disbursements, procurement, and purchase order procedure.
Budgetary Control and Cash Management: Includes budget revisions, grant/contract management, direct and indirect costs, cash management, and line of credit.
Maintenance of Financial Records: Covers general record storage and maintenance requirements.

Key Policies

Internal Control: Establishes a checklist for internal control procedures.
Financial Policy and Administrative Responsibility: Outlines responsibilities for basic policy making, general manager, assistant general manager, and chief financial manager.
Procurement: Establishes procedures for major purchases and purchase orders.
Cash Disbursements: Outlines procedures for cash disbursements, including petty cash and change funds.
Property and Equipment: Covers procedures for property and equipment management.
Personnel and Payroll: Outlines procedures for personnel and payroll management.
Audit: Establishes procedures for audits and financial statement preparation.
Travel: Outlines procedures for travel expenses and reimbursement.
Davis Bacon Provision: Covers procedures for compliance with Davis Bacon provisions.
Journal Entries: Establishes procedures for journal entries and financial statement preparation.
Credit Card/Debit Card Transaction Receipts: Outlines procedures for credit card and debit card transactions.
SWART Business Debit/Credit Card Usage: Establishes procedures for business debit and credit card usage.