FISCAL MANAGEMENT

Fiscal Management Goals ~ Accommodating Purchases ~ Accounting System ~ Annual Operating Budget
Automobiles and Other Vehicles ~ Cellular Phone Reimbursement ~ Contracts ~ Depository ~ Expense Reimbursements Facility and Equipment ~ Fiscal Accounting, Reporting and Statements ~ Fixed Asset Inventories ~
Gifts and Bequests ~ Grant Proposals ~ Insurance ~ Internal Services ~ ~ Invoicing ~ Loans to Employees ~ Petty Cash ~ Purchasing Procedures ~ Receipting of Money ~ Records Retention ~ Rental Income  ~ Revenues from Investments ~ Salaries/Fringe Benefits ~ Sale or Disposal of Agency Equipment and MaterialsShort and Long Term BorrowingUnemployment Compensation Benefits

 

FISCAL MANAGEMENT GOALS

The goal of fiscal management is to maintain fiscal records and procedures of the Agency that provides protection for the resources of the Agency as well as records and procedures, which generate economy, effectiveness and efficiency of the operation.

The Agency will operate under State Department of Public Instruction ordered Generally Accepted Accounting Principles (GAAP).

Priority Objectives:

1.  Record keeping, which protects the Agency and its clients from misuses and/or abuse of its resources.

2.  Fiscal management that establishes economy in purchase and operations of the Agency and its programs.

3.  Fiscal management that readily accesses information for purposes of decision-making.

4.  Fiscal record keeping that provides the Agency's constituents and the general public with accountability for its operation in an easily understandable format.

5.  Detailed budgeting of all CESA 8 sponsored activities to insure that each program is satisfactorily funded and that costs are substantiated and equitable.

ACCOMMODATING PURCHASES

It shall be the policy of the CESA 8 Board of Control to prohibit accommodating purchase for any reason. This policy is designed to protect the Agency's status as a tax-exempt organization.

Accommodating purchases are defined as any purchase of supplies, equipment, or services made for an individual in the name of CESA 8. Accommodating purchases might be made in order to take advantage of school pricing or to avoid payment of sales tax.

Reprimands will take place as determined by the Agency Administrator and Fiscal Manager.

ACCOUNTING SYSTEM

The CESA 8 fiscal department shall:

A.   Maintain double entry ledger and journal records using WCESAAS chart of accounts.

B.   Reconcile bank account statements monthly.

C.   Reconcile bank account to the ledgers monthly.

D.   Reconcile funds when entered.

An audit of all accounts of the agency will be conducted annually by an independent auditing firm who is authorized to conduct such an audit by the Department of Public Instruction.  The board has the authority to hire the auditing firm annually.  Upon completion of the audit, representatives of the auditing firm, if requested by the board, will make a presentation to the board on the results of their audit.  If the board does not specifically request representatives of the auditing firm, the Fiscal Manager will present the audit.  The auditing firm will complete all forms as requested by the Department of Public Instruction regarding the annual audit.

ANNUAL OPERATING BUDGET

The Fiscal Manager shall be responsible for informing the Agency Administrator and the CESA 8 Board of Control of all fiscal matters and shall use professional judgment in maintaining sound fiscal policy in the operation of all Cooperative Educational Service Agency 8 activities.

The Agency fiscal year shall be July I through June 30.

The CESA 8 Administration, Fiscal and Building budgets will be prepared by the Fiscal Manager under the direction of the Agency Administrator and will be approved by the CESA 8 Board of Control at the July board meeting.

Budget deadlines and schedules will be set by the Fiscal Manager, as appropriate, for the best working relationship to meet school district needs.

Budget planning will be a cooperative effort of the program director, consultants, advisory councils when appropriate, and the Fiscal Manager.  Budgets are estimates of income and expenditures to conduct a specific program of the agency.  Budget changes shall be submitted to the appropriate funding authority on a timely basis to ensure CESA 8 receives the revenue from the granting agency.

Budgets for joint-sponsored projects must be approved by the administrators of all sponsors.  Amendments to the budget should be made in accordance with the following policies:

1.         Budget changes not affecting payments to employees of the sponsoring agency would require approval by the project managers.

2.         Budget changes affecting payments to employees of the sponsoring agencies or districts, including project managers, would require approval by all administrators.

Budget priorities will be a continuous process to be determined by the program Directors/Consultants with input from districts through advisory councils, as appropriate, the  Agency Administrator and the Fiscal Manager.  All changes over ten percent (10%) will be approved by the Agency Administrator.

The Fiscal Manager shall be authorized to make intra-fund and inter-fund transfers during the fiscal year for the smooth operation of Agency programs.

            Budgets for EEN programs in Fund 97 will be prepared by the special education department in February for the following school year.  School district contracts will include those budget figures.  School districts will only be charged the actual expenditures of their portion from each program.

AUTOMOBILES AND OTHER VEHICLES

            In the operation of the agency, it may be necessary for CESA 8 to own or lease automobiles and other vehicles.  The Board of Control will make the final determination as to the number of vehicles owned or leased by CESA 8 based on the recommendations of the Agency Administrator.  The administrator shall keep the board informed on the number of vehicles it owns and on the conditions of the automobiles and vehicles annually.

            The administrator will make recommendations to the board on the replacement of various automobiles and vehicles based on condition, mileage and age of the vehicles.  The vehicles to be replaced shall either be traded in or sold by the agency.  The board will make the final decision if a replacement of an automobile or vehicle is to be made.

            When an automobile or vehicle needs to be purchased or leased, the board will authorize the administrator to prepare specifications and send them to various automobile dealers within the agency and to auto dealers who previously bid on automobiles.  Likewise, bid notices shall be published in daily newspapers within the agency.  A deadline date will be set for accepting all bids.  After all bids have been secured, the administrator will prepare a bid sheet listing all bidders and their prices.  The board will then make the decision as to what bid to accept in the best interest of the agency.

            The Agency Administrator will assign the automobiles and vehicles to certain employees of the agency in accordance with their job responsibilities.  It is the responsibility of the person to whom a vehicle is assigned to see that the vehicle is properly serviced and maintained.  They also are responsible to notify the administrator of malfunctions, which could affect the safe operation of the vehicle.  When a CESA vehicle is in the shop for planned maintenance, employees will need to use their own vehicles.

Cellular Phone Reimbursement

CESA 8 recognizes the utility of cellular phones as a tool in our workplace.  Though CESA 8 does not own any cellular phones (except for the delivery van), we have determined the need to pay for the work related use of personally owned units.  Therefore, the following are the parameters of submitting a billing statement for payment on the monthly expense request:

a.         CESA 8 will pay for all call costs (roam, long distance, and minutes) attributable to CESA 8 activities based on a detailed billing statement above and beyond the plan minutes.

b.         CESA 8 will pay a percentage of the basic plan plus voice mail, etc. (for any plan up to $60 per month) based on the number of days the cell phone was used for CESA 8 business.  (For example:  the base is 21.7 work days.  If you have used it for CESA 8 business on 18 of those days, CESA 8 will pay for 83% of that costs [.83 X $60 = $49.80].)  The number of days claimed in a yearly July-June period must not exceed your yearly contract amount (200 days, 210 days, 220 days, etc.).

c.         CESA 8 will not pay for personal phone installation in either agency or personal vehicles.

Unusual circumstances related to your cellular phone usage should be discussed with the Agency Administrator.

Cellular phone use while operating a motor vehicle is strongly discouraged.  Employees should plan cell phone use for times when they are not driving or should pull over before talking. This means for both incoming and outgoing calls.

CONTRACTS

           All services provided by CESA 8 to local school districts will be initiated by the use of a written contract.  The contract will indicate the services provided by CESA 8 along with the estimated costs for such services.

            All contracts must be approved by both the board of education of the local school district and the CESA 8 Board of Control.  Contracts will be signed by the Board President or Clerk and the District Administrator of the local school district and by the Board of Control President and the Board of Control Secretary/Administrator.  Copies of the completed contracts will be issued to both parties.

DEPOSITORY

            Annually, the Board of Control will designate a financial institution or institutions to be the depository of the funds of the agency.  This designation will occur at the July Board of Control meeting.  The designation of the depository will be made in accordance with state statute and the rules and regulations of the Wisconsin Department of Public Instruction.

EXPENSE REIMBURSEMENTS

CESA 8 staff shall be reimbursed upon presentation of an itemized expense voucher for approved actual travel expenses as per contractual agreement or by authorization and direction of the Agency Administrator. All expenses over $5.00 must be accompanied by supporting receipts. The Agency Administrator shall be empowered to allow CESA 8 directors and consultants to attend out-of-state meetings related to present or future CESA 8 projects, provided adequate funding is available.  A Prior Approval form must be filled out for any travel outside of the employee’s normal working area (i.e., district’s or agencies served).  The Agency Administrator's out of state travel shall be approved by the Board of Control Chairperson.

Federal OMB Circular A-21 guidelines will be used to determine legitimate CESA 8 expenditures.  The website is located at http://www.whitehouse.gov/OMB/circulars/a021/a021.html for details.

Mileage will be paid for travel required as part of the employee's work responsibilities for  CESA 8. Such reimbursement will be the current IRS rate at the beginning of the fiscal year. Mileage will not be paid for travel to and from an employee's home and regularly scheduled place of work. When employees must begin or end their workday at a location other than their regularly scheduled place of work, mileage may be claimed for that distance which exceeds the distance between the employee's home and regular place of work.

            Other travel expenses will be paid for based on the current IRS rate at the beginning of the fiscal year.  Please refer to the CESA 8 Current Reimbursement Allowances Chart for further detail on allowable expenses and current amounts.

FACILITY AND EQUIPMENT

            The CESA 8 operation needs to have a facility in which to conduct its business and house its staff, materials and equipment.  CESA 8 has the responsibility to see that the facility provides a safe and healthy environment for its employees and clients.  The Agency Administrator of CESA 8 is responsible for the daily operations of the facility.  The building and grounds of CESA 8 should be inspected periodically by the administrator to insure that all systems are operating properly and all repair items are noted.  Major repairs and maintenance items must be brought to the attention of the Board of Control for their review and decision.  Non-work related objects shall not be used in any office to endanger the safety or health of the employee in that office or other employees in the building.  Equipment may be used by employee’s for personal purposes outside of regular business hours on a cost reimbursement basis as determined by the administrator.

            Utilities need to be monitored and conserved as much as possible.  It is the responsibility of Agency Administrator or designee to oversee the operations of the systems, which utilize the various utility products.  The administrator is to make sure all heating; ventilating and cooling systems are operating properly and efficiently.  Likewise, it is the administrator’s responsibility to see that electrical usage is controlled and used in an efficient manner.  The administrator should order normal operating repairs, and adjustments, and should correct any emergency situations.  Major repairs and improvements (over $5,000) dealing with utility operations must be approved by the board.

            The CESA 8 facility must be secure so that all records, materials and equipment are safe.  All doors to the office are to be locked each evening.  Only authorized personnel are to be issued keys to the building.  Any person working in the office after normal operating hours is responsible to sign in the after hours book and to see that the building is locked and secure when they leave. 

            The equipment owned or leased by CESA 8 must be properly maintained and be replaced when appropriate.  The Agency Administrator or designee is responsible to insure that all equipment is properly maintained and used in a safe and efficient manner.  Individual employees of the agency are to inform the administrator if equipment is not operating properly.  Likewise, new equipment needs should be made known through the regular budget process so that unexpected expenditures will not be needed.  Emergency equipment purchases will be determined by the administrator unless it is a major purchase (more than $5,000), which then needs board approval.

            The computer network will be adequate to perform the administrative operations of the agency.  Provision for expansion, updating and maintenance of the network will be made within reasonable limits, as to not overtax the budgets of the various CESA 8 programs.  The acquisition of both hardware and software will be based on the goals and objectives of the administrative services desired.  Replacement of equipment or software to update to newer or faster equipment  or software will be purchased from the program budget, which the person works for.  It is the responsibility of the Agency Administrator or designee to see that the personnel who operate the computers are properly trained.  The administrator is authorized to enter into maintenance agreements to properly maintain the network equipment or to send it to proper repair facilities for maintenance work.  Printers, scanners, digital cameras are the responsibility of the program directors.  They have the discretion of having the equipment repaired or replaced out of their program budgets.  CESA 8 employees who use the equipment are responsible for the daily, weekly and monthly maintenance of the equipment.

FISCAL ACCOUNTING, REPORTING AND STATEMENTS

The CESA 8 Fiscal Manager will establish and maintain a financial accounting system in accordance with applicable state and federal laws, state department regulations, Board policies, and generally accepted accounting principles. This financial accounting system will accurately reflect the financial condition of CESA 8 and will provide appropriate reports to the CESA 8 Board of Control and school districts.

The Board of Control will receive and make final approval of all expenditures of the agency each month.

The Fiscal Manager shall provide the Agency Administrator and the CESA 8 Board of Control with a regular report of the financial condition of the Agency.  This report shall include:

1.    a detailed monthly report of all expenditures by check number.

2.    a financial summary showing the balance on hand as of the last day of the previous month, totals of receipts and expenditures for current month

3.    the balance on hand for all accounts as of the last day of the current month as reconciled with the bank statement

4.   
all outstanding short-term debts and investments as of the last day of the previous month.

            Monthly expenditure and revenue reports will be distributed to the appropriate project manager for them to review and keep on file for their reference.  Department personnel will consult with the Fiscal Manager to develop reports that may be needed for distribution to school districts or steering committees in order to assure that the reports correctly state the position of the department and/or project.  The reports shall be signed by the Fiscal Manager and Agency Administrator.  In addition the Fiscal Manager shall:

1.  Review and establish financial systems in Agency departments, including specific procedures being completed by department employees, approve all changes, modifications and enhancements to financial systems.

2.  Approve the design, testing and implementation of any automated financial record-keeping system being purchased or written for use in the departments.

3.  Monitor compliance with prescribed financial record-keeping procedures, including timeliness of completion of procedures.

4.  Provide training to employees who work with financial systems of the Agency.

            All financial reports required by state and federal regulations will be completed as necessary.  The Fiscal Manager under the direction of the Agency Administrator is responsible for having all financial reports completed and submitted as requested and/or required by federal or state regulations. 

FIXED ASSET INVENTORIES

An annual fixed asset inventory of all furniture and equipment valued at more than $500 shall be maintained under the supervision of the Fiscal Manager for insurance purposes and property control. The fixed asset depreciation spreadsheet will be maintained and current year depreciation expenses will be charged out at the end of the fiscal year.  A copy will be kept in the CESA 8 safe deposit box.

To ensure complete records, the following information shall be maintained:

1.      A description of the property.

2.      Manufacturer's serial number, model number, or other identification number.

3.      Source of funding the property (Fund-Project).

4.      Acquisition date and cost of the property.

5.      Location of the property and the date the information was recorded.

6.      Ultimate disposition data, including date of disposal and sales price or the method used to determine current value.

Each department, program director, and CESA 8 employee will be responsible to assist in compiling the annual inventory.

           
Upon the expiration of grants all equipment will become the property of the agency except where grant requirements provide a different distribution plan.

GIFTS AND BEQUESTS

            The board may accept on behalf of and for the agency any bequest or gift of money or property for a purpose deemed by the board to be suitable, and to utilize such money or property as designated.

            All gifts and bequests must be in compliance with state and federal laws.  Since CESA 8 has a tax-exempt status, the gifts and bequests are governed by the laws regulating tax-exempt organizations.

            All gifts and bequests will be brought to the attention of the Board of Control for its review and acceptance or denial.

GRANT PROPOSALS

Guidelines:

1.  Grant pre-applications and applications must be approved by the CESA 8 Board of Control.

2.  Grant proposals shall be consistent with the CESA 8 Mission Statement.

3.  The CESA 8 Board of Control encourages CESA 8 staff to apply for grants with the additional guidelines:

a.  Grants shall be designed to provide continued long-term benefits.

b.  Grants which eventually may require local district financing must initially have local district commitment.

c.   Grants should be applied for when the Agency/program is able to commit to and fulfill the purpose of each grant.

4.  The Fiscal Manager shall directly supervise the preparation of all state and federal grant applications and budgets.  Supervise the preparation of claims for reimbursement and other required grant financial reports.

INSURANCE

It is necessary for CESA 8 to carry adequate insurance coverage to see that all board members, employees and the agency itself is protected in the event of lawsuits and accidents.  The Agency Administrator has the responsibility to see that all needed policies are in force.  When the time of a policy is to expire, the administrator shall inform the board and secure the necessary information to help the board make a decision as to the company and coverage desired for the agency.  All policies shall cover all aspects of the CESA 8 operations and shall protect the agency from any catastrophic loss.

            CESA 8 will carry both property and liability insurance policies.  The property coverage should be at the replacement value and with an appropriate deductible amount.  An open and inland  marine policy shall also be a part of the property insurance policy.  Appropriate liability coverage should be maintained to reflect the current trends of society and the legal system.  A policy shall be taken by CESA 8 to cover the computer network and workstations of the agency.

            An errors and omission policy should be in force by the agency to cover all board members, administrators and employees.  An appropriate deductible amount should be a part of the policy.

            CESA 8 should have an umbrella policy to cover all aspects of a potential loss to the agency.  An appropriate deductible amount should be a part of the policy.

            All automobiles and other vehicles owned by the agency must be covered by an insurance policy.  All aspects of such coverage shall be included in the policy.  A reasonable deductible amount shall be a part of the policy. 

Appropriate fidelity bond coverage will be secured for all personnel responsible for CESA 8 funds. Coverage will be provided for the Board of Control, Agency Administrator, Fiscal Manager and any other employees or board members deemed necessary by the CESA 8 Board of Control.  Wis. State Statues 116.03 (9)

            CESA 8 shall carry a worker’s compensation policy as required by Wisconsin statute.

            CESA 8 shall have a boiler insurance policy to cover all aspects of this operation.

INTERNAL SERVICES

            The purpose of this policy shall be to establish procedures and guidelines as to the competition with third parties in the delivery of services to school districts and to improve the accountability of decisions of this CESA to produce goods and services.  This policy is adopted by the CESA 8 Board of Control pursuant to the authority vested in it at s.116.01, Wisconsin Statutes. 

A.  Definitions:  The following definitions shall apply herein unless the context dictates otherwise:

1.   “Internal Services” shall mean those governmental or proprietary services provided by this CESA to other departments or agencies of the State of Wisconsin, the school districts which it serves, or other governmental units on a cost-reimbursement basis.  Said definition shall further be limited to those activities covered under Fund 60 as outlined in the WCESAAS handbook.

2.  “Vendor-like Activities” shall be defined as being activities not directly instructional in nature.

B.  Development of Internal Services Provision:

The development and provision of internal services may occur upon determination of this CESA of persuasive evidence of both need and desirability.  In addition, before being offered, such internal services shall have a reasonable commitment of support, cooperation and participation by local school districts.  The materials, supplies or services provided shall be of such a nature and acceptable quality, price and quantity, among other factors, as based upon a comparison with other providers, both public and private sector, as deemed to be not readily available.

C.  Process of Establishing An Internal Service:

1.   The initiation of an internal service will customarily be upon the basis of a perceived need of one or more member school districts.  Upon communication of such need to the CESA, a determination whether or not to fill said need shall be based upon consideration of the availability of the service or materials through other suppliers and shall be reviewed by a professional advisory committee, with notification made to member districts and presentation to the CESA 8 Board of Control for approval.

2.   Prior to approval by the CESA 8 Board of Control, documentation shall be established showing how the perceived need was expressed and the feasibility of service or product evaluated and validated.  Additionally, data shall be filed projecting development costs and means of financing.  Projects shall also include revenue and expenditure data showing the maintenance of the activity over the assumed period of program duration.

3.   Upon approval of a project plan, the CESA 8 Board of Control shall assume responsibilities for assuring strict adherence to the proposed plan and dissemination of information as to that plan to member school districts.

D.  Considerations in Approving a Project Plan for Delivery of Internal Services:

1.   Need and availability assessment:  It shall be determined whether the material or service in question is an improvement upon, as pertaining to such criteria as quality, quantity, price, delivery or mode of administration, from those services or materials available from other sources.

2.   Accounting:  The WCESAAS structure of fund accounting by function and object shall be utilized for proper accounting of internal service activities.  It is required that accurate reports be provided relative to the following:

a.  Segregation of expenditures and revenue for each internal service, including both materials utilized and personnel.

b.  The accounting procedures shall account for the cost of research, development, promotion and distribution of material and/or service, when applicable.

c.  Cost effectiveness and projected balance of the internal service shall also be demonstrated in the accounting system.

3.   Promotion:  Each internal service approved of pursuant to this policy shall be promoted, the purpose of which promotion shall be to make school districts that are potential beneficiaries thereof aware that such a service or materials exist.

4.   Periodic Review:  Whether an internal service will continue to be provided shall be determined by the CESA 8 Board of Control through the means of a periodic review of continued need and cost effectiveness.

5.   Cost Effectiveness:  Each internal service shall be self-supporting.  When an internal service is not immediately self-supporting, the Board of Control shall take action to establish funding by loans from other funds.  Continued failure of an internal service to become self-supporting shall be a cause for its termination.

6.   Accounting Policy:  Effective July 1, 1990, all revenue and expenditures related to internal services shall be processed through a separate enterprise fund.

7.      Fund Balance:  A reasonable fund balance, in the amount of carryover balances, shall be capable of being maintained with respect to internal services.  In the event such carryover balances exceed a reasonable amount, this CESA shall inform its member school districts of such carryover balances.  Said information shall include, at a minimum, a copy of the CESA’s annual report with the cover letter signed by the administrator and the Board of Control chairperson.  Said letter shall:
a.
  Detail the amount of excess balance
b.  Detail the source of the excess balance;
c.  Detail the use of excess funds considered by the Board of Control; and
d.  State the Board of Control decision relative to the use of the excess funds.
e.  Internal Service Review Committee:

CESA 8 shall participate in an Internal Service Review Committee to be established at the state level for purposes of implementing this policy and to review individual internal service policies and activities.

INVOICING

            The Fiscal Department will issue invoices monthly based on requests to invoice turned in by the various program directors.  The request to invoice states the service or product which is being purchased, along with date of service, quantity and purchase order number, if applicable.  The request to invoice should be signed by the program director and Agency Administrator.  The invoices will be processed in the Fiscal Department under the direction of the Fiscal Manager.  Districts are expected to pay their invoices within 30 days of receipt.  Accounts receivable will be reconciled on a regular basis to make sure invoices are collected in a timely basis.

           
Invoices for contracted services will be sent to school districts by the end of July of each year.  The invoices will request a ten (10) month pay period, payment to be paid August 31 – May 31.  School districts have the option to pay bills earlier than the monthly payment schedule if they choose to do so.

           
Invoices for EEN contracted services will be sent to school districts by the end of July of each year, based on thirty (30) percent of the budgets.  Payments to be paid August 31 – October 31.  In October the special education department will revise the EEN budgets based on staffing and enrollments.  Then the remaining seventy (70) percent of the budgets will be invoiced by October 31.  The remaining seven (7) payments to be paid November 30 – May 31.  At the end of the school year, a final invoice or credit memo will be prepared to zero out the program accounts.  Refunds to school districts will be paid within ninety (90) days of June 30, after accounts have been reconciled.

           
All invoicing for any CESA 8 service or product must take place through the Fiscal department.

LOANS TO EMPLOYEES

 The CESA 8 Board of Control prohibits all loans of any type to Agency employees by anyone having access to Agency funds.

For the purposes of this policy, a loan is defined as any advancing of money to any employee, in any manner.

PETTY CASH ACCOUNT

            The Board of Control authorizes the agency to have a petty cash account up to the amount of $100.00.  The petty cash account is to be utilized to purchase small items or services, which do not require a purchase order to handle incidental needs.  All purchases in the petty cash account need to have a receipt, and the expenditures classified and charged to the proper account as per the WCESSAS system.

            The petty cash account is held by the Office Manager and monitored by the Fiscal Manager on a regular basis.  Expenditures of the petty cash account are subject to the review of the Agency Administrator and the Board of Control.

PURCHASING

The function of purchasing is to serve the educational programs by providing the necessary supplies, equipment, and services. The CESA 8 Board of Control declares its intention to seek maximum educational value for every dollar expended. A contract or  purchase order shall be used to carry out purchasing activities.

The CESA 8 Board of Control assigns the program director the responsibility for the quality and quantity of purchases made. The prime guidelines governing this responsibility are that all purchases fall within the framework of budgetary limitations and that they be consistent with the approved educational goals and program grants of the Agency.  Said purchases shall also be consistent with the individual program goals of the district participants in the program.  The Fiscal Manager will make sure the funds are available for the specific purchase within the program.  The Agency Administrator will have final approval of the purchase.

PURCHASING CRITERIA:

1.      Best possible quality.

2.      Lowest possible cost.

3.      Specification of the user.

4.      Availability when needed.

5.      Least possible expenditure of time to acquire the purchase.

             If all things are equal, consideration should be given to purchasing items and materials from communities of the school districts of the agency.  Preference should also be given to purchasing items from within the state before buying from companies outside of the state.

            When goods have been received by the department, that department would submit to the Fiscal department a voucher approval (filled out and signed by the appropriate personnel), the invoice and a copy of the purchase order indicating that these goods have been received and the date of receipt.  The person receiving the goods shall check to see that all items sent are received and in good condition.

RECEIPTING OF MONEY

            It is necessary to have a system of checks and balances for the receipting of money.  The personnel assigned to receipt checks or cash received, deposit the revenue and record the receipt into the accounting system will be done under the supervision of the Fiscal Manager.  The revenue will be recorded to the correct account based on the WECESSAS accounting system on a monthly basis.

            Advance registration fees will be deposited as soon as they are received directly through the Fiscal Department.  Departments that collect fees from participants in various conferences and/or workshops, the day of the workshop, will be issued receipt books from the Fiscal Department.  Department personnel will receipt the participant’s money and then turn the checks and/or cash directly to the Fiscal Department.  Fiscal personnel will then give a copy of the receipt back to the department personnel for their records. 

RECORDS RETENTION

CESA 8 will follow the “Wisconsin Records Retention Schedule for School Districts” which is put out by the Wisconsin Department of Public Instruction for recommendations on time-lines for records management.

            Confidential records should be shredded before disposed.

RENTAL INCOME

            At times, CESA 8 may receive income from the rental of materials, equipment or the use of the building.  Such receipts will be considered local income.  The income received will be credited to the appropriate account of the WCESAAS system.

            All requests for rentals by CESA 8 will be approved by the Agency Administrator and reported to he Board of Control.  Any questionable rental requests will be approved by the Board of Control. 

REVENUES FROM INVESTMENTS

The CESA 8 Board of Control considers an investment program to be a critical ingredient of sound fiscal management. Therefore, the CESA 8 Board of Control authorizes an investment program for the purpose of securing revenues in support of the Agency's educational programs.

The investment program shall be administered in a way that will ensure:

1.     A continuous process of temporary investing of all moneys available for investment purposes.

2.     The Fiscal Manager should investigate interest rates from a minimum of two (2) financial institutions located within the CESA 8 service area.

3.     That all Agency investments will be made in compliance with the law.  Permitted investments include:

a.    Certificates of deposit with maturities of one year or less (maturity should occur before June 30 of current year) in financial institutions which are financially secure and whose deposits are insured by the FDIC or its equivalent and are authorized to do business in Wisconsin.

b.    Other securities (i.e.:  commercial paper) which mature or may be tendered for purchase not more than one year of the date of acquisition, provide the security has a rating assigned by Standard & Poor's Corporation A1 rated, or Moody's Investors Service P1 rated.

The CESA 8 Board of Control authorizes the Fiscal Manager to direct all activities associated with the investment program in such manner as to accomplish the objectives of this policy.

The Fiscal Manager shall be authorized to execute, in the CESA 8 Board of Control's name, any or all documents relating to the investment program in a timely manner and to confer with reputable consultants regarding investment decisions when deemed necessary.

Investments will be approved by the Agency Administrator with the input of the data which the Fiscal Manager has collected appropriate to an investment.

Salaries/Fringe Benefits

            The Board of Control will determine the salaries and fringe benefits for the employees of CESA 8.  All payments of salaries and fringe benefits of the employees of CESA 8 shall be made in accordance with the WCESSAS accounting system.  All necessary reports regarding these payments shall be completed and submitted as per Wisconsin and Federal laws by the Fiscal Department.

 SALE OR DISPOSAL OF AGENCY EQUIPMENT AND MATERIALS

Occasionally it is necessary for the Agency to sell or dispose of surplus or obsolete equipment and materials. Prior to any sale or disposal, the Fiscal Manager, or his/her designee, will determine if items have trade-in value toward replacement items, or if items can be used in other programs within the Agency.

Surplus or obsolete items of estimated value less than $500 will be sold or disposed of by the Fiscal Manager, or his/her designee, in a manner deemed appropriate.  The sale or disposal of such items will first be offered to school districts within the agency before it is made available to the general public.

Surplus or obsolete items of estimated value greater than $500 will be brought to the attention of the Agency Administrator and the CESA 8 Board of Control and the Board shall determine the method of sale or disposal and give final approval.

All funds received from the sale of Agency equipment and materials shall be deposited in the appropriate fund revenue account.

SHORT AND LONG TERM BORROWING

 A.        Short Term Borrowing

CESA 8 does not have any taxing authority and upon specific permission from the CESA 8 Board of Control, a given amount may be borrowed for short term purposes to meet current operating expenses. At no time shall the amount borrowed exceed 10% of the prior year's receipts for expenses incurred during the contracted year.

B.         Long Term Borrowing

CESA 8 shall follow State Statutes on long term borrowing.

UNEMPLOYMENT COMPENSATION BENEFITS

Unemployment compensation benefits paid by the Agency or by a host district under a package contract with the Agency shall be paid by the users on the same formula basis as was used to divide the program costs during the time the program was operated.

 When programs are merged, all districts involved in the programs prior to the merger shall share resulting unemployment compensation costs.

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