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Item 10 - Agreements with Orange County Therapeutic Arts Center, Working Wardrobes
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Item 10 - Agreements with Orange County Therapeutic Arts Center, Working Wardrobes
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6/25/2025 5:05:49 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
10
Date
7/1/2025
Destruction Year
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EXHIBIT 1 <br /> 2025-26 Orange County Children's Therapeutic Arts Center (OCCTAQ <br /> Youth Employment Program <br /> After checks are printed and signed,the accountant shall mark"Paid" with the date of payment <br /> and check number utilized for payment. All disbursements shall be reviewed and approved by <br /> the Executive Director. A monthly review of all disbursements shall be conducted by the <br /> Accounting clerk and reviewed by the Executive Director and the Finance Committee for <br /> verification of accuracy, documentation and appropriate approval. The Executive Director shall be <br /> authorized to expend funds as approved by the Board of Directors under the organization's <br /> annual operating budget. <br /> B. Attach a copy of the organization's procurement policies and procedures as <br /> Attachment I. Please see attached OCCTAC's Procurement Policies and procedures. <br /> C. What systems are used to ensure fiscal accountability, appropriate expenditures, and planned <br /> costs. All requests for reimbursement shall be reviewed and approved by the Executive Director <br /> and Finance Committee. All reimbursements are subject to budgetary limitations as established <br /> in the organization's approved operating budget. No reimbursements are made without <br /> appropriate backup documentation. Please see details below of the accounting system used at <br /> OCCTAC: <br /> • Accounting Method: OCCTAC utilizes a modified accrual-based account methodology. <br /> • Cost Allocation Method: Costs are allocated using the Direct Cost Allocation Method (OBM <br /> Circular A-122). OCCTAC classifies each item to a specific program, department, site, grant or <br /> contract that it directly relates to. Indirect expenses like general administration and general <br /> expenses are allocated based on the allowable budgeted portion of each program with the <br /> remaining portion to the center's administrative category. OCCTAC shall produce financial <br /> reporting for each of the Center's program functions. In consolidation,these programs shall <br /> make up the overall financial position of OCCTAC. All transactions (Payments and cash <br /> receipts) that occur at the center shall be classified under identified categories and <br /> programs. When program funding is split between two or more sources, the cost allocation <br /> for this program shall conform to the budget allocations established in the program. <br /> • Budgets: Under the guidance of the Finance Committee and prior to the beginning of each <br /> fiscal year, the Executive Director prepares an Operational Budget, including Program <br /> Budgets.Tuition fees, Service fee rates, etc., shall be approved by the Board. Any gifts <br /> (monetary or otherwise) resulting from fund-raising activities, solicitations and acceptance of <br /> gifts or contributions that are presented with restrictions of use shall be approved by the <br /> Board of Directors and submitted to the finance committee to verify the appropriate method <br /> of accounting and reporting. <br /> • Receivables: Receivables shall be aged monthly and delinquent accounts shall be followed up <br /> for collection. Receivables from miscellaneous sources shall be reviewed periodically by the <br /> Treasurer and significant amounts shall be reported to the Board of Directors. All write-offs <br /> shall require approval from the Finance Committee prior to implementation. The Board shall <br /> review all write-offs from uncollectible accounts receivables. <br /> • Deposits and Receipt of Monies: Deposit of monies are made on a weekly basis, or <br /> whenever more than one thousand dollars (in either cash or check) has been received and <br /> recorded by the OCCTAC office. All items to be deposited are and shall be stamped "For <br /> 26 <br />
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