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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.
