Financial Record Keeping

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Financial Record Keeping for Small Systems
Presented by Jerry Kopke Arkansas RCAP
Coordinator Community Resource Group
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The Systems Financial Responsibilities

• Plan for the systems financial future.
• Develop and approve the systems annual expense
  budget.
• Ensure that the systems revenues cover all its
  expenses.
• Ensure that adequate financial records are kept
  and to review those records monthly.

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Financial Record Keeping

• Financial records are needed for

• Analysis of operation, maintenance, repair, and
  replacement costs
• Adequate rate setting
• Forming a budget
• Comparing actual amounts to budgeted amounts
• Performing audits

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Financial Document Checklist

• Accounting records
• Financial Statements
• Loan agreements
• Financial policies
• Other related information

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Financial Document Checklist

• Accounting Records Source Documents
• Bank Statements
• Bank deposit tickets
• Invoices
• Daily Transaction Reports

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Financial Document Checklist

• Accounting Records Transaction Journals
• Accounts receivable summary
• Accounts payable journal
• Cash disbursement journal
• New customer journal

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Financial Document Checklist

• Accounting Records General ledger
• Assets
• Liabilities
• Capital
• Income Expenses

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Financial Document Checklist

• Financial Statements
• Balance Sheet
• Income Statement
• Cash Flow Statement

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Financial Document Checklist

• Financial Reports
• Monthly reports to the board
• Quarterly/ Annual reports to outside parties
• Independent Audits

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Financial Document Checklist

• Loan Records
• Agreements
• Correspondence
• Annual loan status report

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Financial Document Checklist

• Financial policies procedures
• Accounting policies
• Purchasing policies
• Customer service policies
• Insurance policies

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Financial Document Checklist

• Planning Information
• Asset management plans
• Long Range Plans

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Financial Document Checklist

• Other related information
• Board meeting minutes
• Corporate records
• Incorporation records
• Bylaws/ resolutions
• Annual reports
• FOI/ open meetings

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For more information

• Jerry Kopke
• Arkansas State Coordinator
• Community Resource Group
• 3 East Colt Square Dr
• Fayetteville, AR 72703

• Tel [phone] Ext 128
• Fax [phone]
• E-mail jkopke_at_crg.org
• Web www.crg.org

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Questions?