Presented by
Sarah A. Adams, CPAAdams & Co, PCLebanon, VA 24266
Owner/Manager of CPA firm specializing in Accounting, Tax and Technology Consulting
QuickBooks Certified ProAdvisorConsultant for SWCD’s for almost10 years including
re-write of Desktop Guide, state-wide QuickBooks training, and various speaking engagements
Former Acting Controller of Sprint United Telephone
Fiduciary responsibilityA relationship which implies a
position of trust or confidence wherein one is usually entrusted to hold or manage property or money for another. Among the obligations a fiduciary owes to the principal are duties of loyalty; obedience; full disclosure; the duty to use skill, care and diligence; and the duty to account for all monies.
Evaluate where you are now
Higher level of responsibility Asset Protection Efficient and Productive Management of Resources
Staff timeFunds – coming in and going outAssets
Provide excellent services & programs
Managing within your budgetAccurate accounting and reporting
Maintain sound internal controlsOperate at a “profit”Cross-train with your employees
Revenue streams–flood or drought
Lobby hard with the stateKnow other competing projects being planned
Elect excellent members to your state board
Use grassroots lobbyingIncrease civic involvement
Equipment rentals should be profitable
Look at possible grantsBe active with your local governments
Ask local businesses for support of special projects
Keep in touch regularly with those controlling purse strings
Rainy day funds
Desktop Guide – 3-6 months of reserve funds
May take several months or years to build this up but be diligent
Plan to use only in the event of an emergency
Budgeting for expensesReview budget continuously
Set up your budget in your accounting program
How tight is your budget?Review past expensesLittle dollar amounts can add up
Underutilized assets
Personnel expensesRent may be a large expense
Don’t sacrifice quality in critical areas
Be realistic about future costs
Prepare budget out 5 yrs
Allocate costs accurately
Proper determination of profitability
Shows state and local governments how their funds are used
Employee productivityProductivity issuesPossibly use specific time tracking
Employees are not always honest
Survey your customer base Expect more from your employees
Prevention and Detection of Fraud
Employee abuseLack of separation of duties
Lack of other internal controls
Lack of oversight
Desk Top Guide
Review the guide annuallyCash management and control
Employee financial issuesProblem preventionOutside Procurement
Managing your best asset
Adhere to employment policies
Adhere to tax agency requirements
Open door policyFairnessFlexibility
Firmness tendered with understanding
Training in policies and procedures
Delegate with awareness of fiscal responsibility
The Board was established by the General Assembly to help guide the delivery of soil and water conservation services to citizens of the commonwealth. Services include financial support, coordination, information exchange to local SWCD’s; oversight and enforcement of nonpoint source pollution control programs including storm water management, erosion and sediment control and municipal separate storm sewers; and oversight and enforcement of dam safety and floodplain management programs.
"The Board may... act to ensure the general health, safety and welfare of the citizens of the Commonwealth as well as protect the quality and quantity of state waters from the potential harm of unmanaged stormwater."
You couldn't live long without clean water. Nothing can.