IL-NET Sample Fiscal Policies and Procedures Handbook

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This handbook was created at the request of numerous centers for independent living (CILs) who needed policy examples they could use as a guide for developing or strengthening their CIL’s fiscal policies and procedures. There is no area of nonprofit management that is more critical than the proper management of financial resources. Policies and procedures are required for compliance and are a necessary internal control for any agency. Having good written policies and procedures may not ensure the success of an organization, but will go a long way toward facilitating that success.

Since most centers are recipients of federal funds, whether through Title VII of the Rehabilitation Act, as amended, or through other federal agencies or programs, this guide incorporates requirements that nonprofit organizations must adhere to in the management and allocation of federal funds. In addition, centers are required to conduct resource development, and many operate—or will operate—with funding from multiple agencies and programs beyond federal funding. This guide incorporates what are good practices for any nonprofit in its financial management. It is essential to adopt policies and practices that follow generally accepted principles so that centers are prepared to address other requirements that may be imposed by other funders. This guide addresses these principles.