Responsibilities of those Charged with Governance

1. Responsibilities of those Charged with Governance Presented By: Donna Denker, CPA Donna Denker & Associates

2. Policies, Procedures and Legal Compliance • Internal Controls • Laws and Regulations • Tribal Codes • Federal Codes (i.e. IRS, FLSA)

3. Code of Ethics • Protecting the civil rights of all individuals • Fair practices towards recipients, students, constituents • Not using the position for personal gain (board and staff)

4. Code of Conduct Prohibit receiving gifts from suppliers Confidentiality regarding payroll, health or employee issues Consistency in applying policies such as travel

5. Conflict of Interest Arms length agreements with related parties Duty of loyalty Written statements from Board and Management each year

6. Whistleblower Policy Confidential process for addressing complaints or reporting suspected illegal acts Retaliation against a whistleblower can be an illegal act

7. Document Retention Policies Efficient filing system including paper and electronic documents Schedule of document retention and purging

8. Protection of Assets Board Meetings – clear concise meeting minutes documenting decisions and directives

9. Financial Oversight • Books and Records – Accuracy and Completeness • Monitoring the Audit Process • Understanding the scope of the audit • Corrective Action Plans • Development • Assigning Individuals Responsible • Assigning Deadlines • Monitoring

10. Budget Development Budget must be reflection of your goals and mission Identify revenues expected Should be based upon reliable information Must be monitored vigilantly Evaluations of finance staff

11. Resources • Panel on the Nonprofit Sector • www.nonprofitpanel.org • Internal Revenue Service • www.irs.gov • Code of Federal Regulations 25 CFR Part 900 Subpart F “Standards for Tribal or Tribal Organization Management Systems.” • OMB Circular A-133 • Auditee responsibilities Subpart C • Part 6 – Internal Controls