This policy will address the handling of funds by and for the Baraga County Community That Cares. The fiduciary for the group is Baraga County Shelter Home, a 501c3 corporation organized in and according to the laws of the state of Michigan. The mailing address of the Shelter Home is P. O. Box 10, L’Anse, Michigan 49946.
Receipt of funds:
All funds received by Baraga County CTC will be delivered or mailed to Baraga County Shelter Home where they will be recorded and deposited into the Baraga County CTC bank account at Superior National Bank following the financial procedures defined in the Baraga County Shelter Home Financial Manual.
Donations or other funds may be mailed to: Baraga County Communities That Care, 303 Baraga Ave., L’Anse, Mi. 49946. The CTC Coordinator will be responsible for getting the funds to Baraga County Shelter Home, financial fiduciary, or their representative.
Any checks received should be made out to Baraga County CTC. If the donation is for a specific purpose, it must be noted when forwarding the money to Baraga County Shelter Home (BCSH). Those funds will be accounted for as restricted funds and spending will be limited accordingly. If there is no specific designation for the donation, funds will be added to the CTC general fund and allocated as needed.
Any spending must be initiated by the Baraga County CTC Executive Committee. Minutes from the meeting during which the spending was decided will note the amount of spending and the person or organization that is to receive the money and the results of the vote. A copy of the minutes will be forwarded to the Baraga County Shelter Home Financial Manager with a request to issue a check. Any receipts or invoices must be included with the request. If the invoice or receipt is not available at the time of the request, it is the responsibility of the CTC Coordinator to obtain the evidence of purchase and forward that to the Financial Manager at BCSH. The Financial Manager will process the request according to the financial procedures defined in the Baraga County Shelter Home Financial Manual. Once processed, the check will be mailed to the payee or other designated person.
In the event that a check is needed quickly, the Executive Committee could conduct an email vote. The email should then be forwarded to firstname.lastname@example.org for processing if that person is not already a part of the email conversation.
Accounting and Financial Reporting:
All transactions will be recorded and accounted for using the accrual method of accounting and according to generally accepted accounting principles. The procedures used are defined in the Baraga County Shelter Home Financial Management Manual. Financial reports will be generated by Baraga County Shelter Home and presented at Baraga County CTC Board meetings. Financial Reports can also be generated as requested.