Understanding County Budgets

& Fiscal ReportsCounty Extension Council

Training Module

Council Leadership Development Committee — a partnership of the University of Missouri Extension State Council and University of Missouri Extension October 2003

© 2003, University of Missouri Board of Curators

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Objectives

Understand:– Sources of funding

– Council’s role

– Reports required

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Sources of Funding

• Federal – USDA• State – General Assembly• County – Commission• Grants & Contracts

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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State Statutes

Section 262.590(3) — Duties“… arrange for and administer the

county share of cost of the Extension services …”

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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State Statutes

Section 262.593 — Governance– Establishes council as official body– Prohibits:

• Commercial or private activities• Legislative programs• Preferential service

– Allows:• Fee collection• Private contributions

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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State Statutes

Section 262.597 — Budget– Established and filed annually

• Jan. 1 in most counties

• Sept. 1 in first-class counties

– Sets minimum appropriations

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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State Statutes

Section 262.600 — Funds– Submit monthly to commission:

• Requisition

• Statement of expendituresCertified and itemized

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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State Statutes

Section 262.610 — Treasurer– Deposits monies

– Pays bills

– Keeps records

– Presents annual financial report

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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State Statutes

Section 262.610 — Annual Report– Elected Council Secretary Submits

– Details:• Receipts and expenditures

• Summary of work

• Results accomplished

– Due by Feb. 1

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Operating Budget

• Inclusive of council operations

– Sources of funds

– Uses

• Submitted annually to commission

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Operating Budget

UME guidelines

– Number of specialists– Actual operation costs

• Mileage

• Educational materials

• Marketing

• Secretary’s salary

• Office expenses

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Operating Budget

Administration– Treasurer– County Program Director

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Operating Budget

Computerized accounting system– Receivables

– Payables

– Revenue

– Expenses

– Assets

– Liabilities

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Operating Budget

• Fiscal policies and procedures– State statutes– University policies– Commonly accepted practices for public

entities

• Council policies

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Reports

• Monthly financial statement• Quarterly financial report• Annual report• Annual audit report

– Council committee– Audit/CPA firm

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Sound Financial Management

County Program Director:1. Oversees day-to-day operations

2. Supervises council-paid staff

3. Presents receipts and disbursements

4. Implements county-level policies

5. Informs council and regional director

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Sound Financial Management

County Extension Council Members:1. Prepare annual budget

2. Arrange for and administer county’s share

3. Receive by gift or purchase real or personal property

4. Collect fees

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Sound Financial Management

County Extension Council Members:5. Accept financial contributions

6. Prepare monthly fund requisition and statement of expenses

7. Direct treasurer to account for all monies

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Sound Financial Management

County Extension Council Members8. Direct Council Secretary to make

annual report

9. Establish procedures for audit

Missouri Council Leadership Development: 21st Century Programs, Governance and Membership October 2003

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Produced by the Council Leadership Development Committee a partnership of the University of Missouri Extension State Council

and University of Missouri Extension

http://extension.missouri.edu/extcouncil/training/

Understanding County BudgetsAnd Fiscal Reports

County Extension Council Training Module

University of Missouri Extension does not discriminate on the basis of race, color, national origin, sex, sexual orientation, religion, age, disability

or status as a Vietnam-era veteran in employment or programs.