Adopted: 8.13.25

Purpose

This policy ensures sound financial management, transparency, and responsible use of funds in support of our mission.

Segregation of Duties

• The Board President, Vice President and/or Secretary may make Urgent House purchases without approval by the Board up to the Amount of $1,000 dollars; however any of the preceding individuals must notify via email the current Board Treasurer of such purchase in a timely manner, with description of purchase, and amount with receipt.
• Any purchase over the amount of $1,000 maybe be approved outside of a Board meeting, but requires a majority approval by the Board.
• No one person shall be responsible for both authorizing, executing, and reviewing a financial transaction.

Banking & Disbursements

• All disbursements require approval by an officer of the Board.
• All purchases must be supported by receipts, which will be noted on monthly financial report.
• Credit Card and Debit Card use shall be limited to Members authorized by the Board.
• Preapproved expenses may be reimbursed at Board’s sole discretion.

Deposits & Receipts

• Donations and revenues will be deposited promptly.
• All income sources are recorded and tracked in a secure, Board-accessible monthly financial report

Reporting & Review

• Monthly financial reports are shared by the Treasurer and reviewed with the full Board and voted upon for approval.
• An Annual Statement of Review will be conducted to evaluate fiscal practices and confirm compliance by outside CPA.
• An IRS 990 Form will be filed annually by May 1^st of the following year; the Board will review the 990 prior to filing.
• All records are stored in a secure Dropbox folder managed by a contracted third-partner, with exception of banking records, which are store in the banking account.