Standard: The agency shall have procedures for budget control with periodic reporting of revenues and expenditures, and continuous management review.
Suggested Evidence of Compliance: Provide the procedures for budget control within the agency and examples of periodic reports.
Agency Evidence of Compliance:
The Park District follows its Procedure on Monthly Financial Reports1 in regards to budget controls and monthly reporting of revenues and expenditures. Park District financial information is made available to staff on its dashboards2 and those responsible for budget lines must report to the Finance Manager each month any overages or shortages in their budget that are more than 10% above or below the budgeted allocation. These reports are then reviewed by the Business Operations department and any pertinent findings are forwarded to the Executive Director. The Board of Commissioners also receives financial reports3-5 each month in their board packets.
Documentation:
- 05.05.00_Procedures-for-Monthly-Financial-Reports.pdf
- Screenshots of monthly reports from staff financial dashboard (below)
- 05.05.00_Financial-Reports-from-November-2014-Board-Packet.pdf
- 05.05.00_Financial-Reports-from-December-2014-Board-Packet.pdf
- 05.05.00_Financial-Reports-from-January-2015-Board-Packet.pdf
Agency Self Assessment: MET
