EXTENSION ADMINISTRATIVE HANDBOOK - USE OF EXTENSION FUNDS
Chapter 2 Section B1
B1. Financial Procedure
1. State Extension laws provide the Treasurer the authority to pay out funds of the local Extension Unit by a combination warrant check signed by the Chairperson and Secretary. This can happen at any time with the Treasurer reporting the expenditure on the monthly treasurer’s report. The Board can then accept/approve the treasurer’s report for all expenditures occurring since the last treasurer’s report.
2. Boards can utilize electronic fund transfers to pay regularly occurring bills and direct deposit of employee payments. The approval process for these payments is the same as issuing a warrant-check. Special forms are available on the Employee Resources Web site for authorization of those payments.
3. Maintain in the files a finance folder for each month. Keep all invoices, deposit slips, canceled warrant checks, bank statements, savings account statements, monthly financial statements, and other financial records in these folders.
4. Maintain only one checking account (not including limited checking or savings accounts) for the local Extension unit. Deposit promptly all funds received. In the preparation of the monthly financial statement, KSU 8-7a and KSU 8-7b, “County/District Extension Financial Statement- Summary and Receipts”, (Exhibit B & B-1) record all funds deposited during the month.
5. Receipt all funds received, (checks or cash). Use the standard receipt book, KSU 8-12 (Exhibit A). The total of receipts issued must equal amount deposited. Mark “void” any receipts in error. Leave both copies in the receipt book. The receipt book is used only for local Extension unit receipts.
6. Check the invoices for items purchased to determine if they are itemized and correct.
7. Prepare warrant checks for payment of invoices at the close of each month. NEVER PAY WITH CASH.
8. Monthly financial statements, canceled warrant checks, deposit slips, bank statements (checking and savings), receipts and invoices should be retained for five years. The December statement is considered an annual statement and should be filed permanently.
a. The Following items are to be maintained for five years:
(2) Director’s Certificate of Proper Functioning
(3) Certificate of Filing (KSU 8-2)
(4) Certificate of Appropriation (KSU 8-3)
(5) Financial Records (deposit slips, monthly bank statements, canceled vouchers, monthly financial reports – January to November inclusive)
(6) Public notices of elections and annual meetings (KSU 8-23, KSU 8-24, KSU 8-24a)
(7) Published budgets
(8) Employment agreements
(9) Civil Rights Mini Review (CR-1)
b. The following items are to be maintained permanently:
(1) List of council/governing body members (KSU 8-4, KSU8-15); District Governing Body and PDC members (KSU 9-4)
(2) December Financial Statement (KSU 8-6, KSU 8-7, KSU 8-9) (3) Minutes of Board meetings
(4) Memorandum of Understanding
(5) Annual Program Accomplishment Reports
(6) Auditor’s Reports
(7) Transfer of Property
(8) On-site Civil Rights Compliance Review forms
9. The following items should be mailed to the Extension Auditor, KSRE Business Office, Waters Hall, Manhattan KS 66506, by the 10th of each month:
One (1) legible copy of KSU 8-6, “County/District Extension Financial Statement-Expenditures” (Exhibit C);
One (1) legible copy of KSU 8-7, “County/District Extension Financial Statement- Receipts and Summary” (Exhibit B);
One (1) copy each of banking and savings statements; One (1) copy of all itemized deposit slips;
One (1) copy of each warrant check.
One (1) copy of KSU 8-9 Non-Appropriated Funds (Ed Services) Subsidiary Ledger”.
10. KSU Forms 8-6 and 8-7 should be legible and formatted similar to the standard forms. Copies may be made on a copy machine.
11. After reviewing, the Research/Extension Business Office will post the KSU 8-6 and KSU 8-7 to the KSRE Online Financial Documents Webpage.