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allocation method; these include expenses such as rent, utilities (electricity, water and gas), telephone and long distance services, computer and Internet access, accounting services, office maintenance and security. Management reports consist of an annual budget, monthly balance sheets and income statements, annual financial records for the audit, program budget reports and tax documents. An annual budget is prepared by the accounting manager and reviewed and approved by the Board of Directors and the CEO/President. Once approved the budgets will be entered in the general ledger by the accounting department in order to track actual costs against budgeted amounts. Actual expenses are compared to budgets for each grant or contract. These reports are reviewed to ensure actual expenses do not exceed budget amounts for the grant period and specifically for that grant. Monthly balance sheets and income statements are prepared by the accounting manager for review by the Treasurer and then presented to the Board of Directors in the monthly board meetings. A variance analysis is also prepared for accuracy and completeness of accounting information. A qualified public accounting firm will audit the annual financial statements. The auditor prepares a final audit report done on our fiscal year (January — December) financial information. The accounting manager prepares the statements, reports and reconciliations required for the audit. The books are closed yearly. If our yearly federal expenses exceed the federal requirements, than an annual audit will be performed in accordance with OMB Circular A-133, Audits of States, Local Governments, and Non -Profit Organizations. The payroll service Paycom completes the employee related tax documents and reports. The auditor completed all government and federal tax compliance documents. Organizational Description — Latino Health Access