Sekw’el’was
(Cayoose Creek Band)
AMENDED
Cayoose Creek Band
FINANCIAL POLICIES
CAYOOSE CREEK BAND COUNCIL FINANCIAL POLICIES
CAYOOSE CREEK BAND COUNCIL VISION:
The Cayoose Creek Band, a proud and unified people, will as a self-governing nation, work
together to ensure enhanced quality of life for all generations of our people to develop a
sustainable, self-reliant, vibrant community that is built upon the historical and traditional
values of our community.
CAYOOSE CREEK BAND COUNCIL MISSION:
The Cayoose Creek Band, through transparent and accountable leadership, assert the right
to govern ourselves, for the benefit of all generations of our people, and exercise that right
by building capable governing institutions and economies that match our culture through
strong leadership.
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CAYOOSE CREEK BAND COUNCIL FINANCIAL POLICIES
Purpose of Policy………………………………………..…………....….4
Definitions………………………………………………..………………..4
1.0 Accounting Records………………………………..……………….5
1.1 General Administration…………………………….……………….5
2.0 Payroll…………………………………………………………………..5
2.1 Adjustment to Payroll………………………………………………..5
2.2 Payroll Advances………………………………………………….....5
3.0 Salaries……………………………………………………...................5
4.0 Purchases……………………………………………………………...6
5.0 Pending Proposals and Funding Agreements…………………..6
6.0 Travel Expenses…………………………………………...................6
7.0 Budget and Budget Reviews…………………………....................6
7.1 Budget Changes……………………………………….……………..7
8.0 Departmental Deficit Notification……………………....................7
9.0 Category Deficit Notice……………………………….……………..7
10.0 Inter-fund Transfers……………………………………..................7
11.0 Bank/Signing Authority……………………………..…..................7
12.0 Cheques………………………………………………………………7
13.0 Financial Statements…………………………………....................7
14.0 Annual Audit…………………………………………………………8
15.0 Confidentiality……………………………………………………….8
16.0 Personal Loans………………………………………..…………….8
17.0 Financial Files……………………………………………………….8
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CAYOOSE CREEK BAND COUNCIL FINANCIAL POLICIES
Purpose of Policy:
The purpose of these policies is to create an environment within which the Council can operate
and maintain strong internal controls to ensure the integrity of financial information. Through
strong internal controls and financial accountability, all departments within Cayoose Creek
St’at’imc will be able to utilize the assets entrusted to it in the most efficient and effective
manner for the benefit of all member of the Cayoose Creek St’at’imc and future generations.
Definitions
Budget: A budget is an amount determined for each category within a program. A budget will
consist of a source of revenue and an equal amount of expenditure categories (balanced
budget).
Category: An individual budget line within a program. A category can be a revenue category or
an expenditure category. For example, travel is an expenditure category within most programs.
A category will be defined in the general ledger by a standard account code and assigned to all
relevant programs.
Department: A department is a group of similar programs under the management of the Band
Administrator. It is defined in the general ledger by a common department code sequence.
Deficits: When expenditures exceed revenue. The organization is indebted to the program for
the amount of the deficit.
Program: A program operates to provide a specific service and will usually operate under a
program or a contract. A program can operate separately or be consolidated as a category
within a larger program. A program will be defined in a general ledger by a unique department
code falling within an assigned sequence.
Surplus: When revenue exceeds expenditures. The organization has equity in the program
relevant to the amount of the surplus.
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CAYOOSE CREEK BAND COUNCIL FINANCIAL POLICIES
In order for the Cayoose Creek Band (CCB) Administration Office to effectively manage its
business transactions and to be able to report to council and membership on up to date
budgets, balances, and spending procedures the Administration Office requires sound financial
policies. Therefore the following financial policies will policies will apply:
1.0 Accounting Records
Whether by manual or computer the following accounting records are to be maintained.
All transactions are to be entered into their appropriate journals on a daily basis. The
following journals are as follows:
(a) Payroll Journal
(b) Purchase Journal
(c) General Journal
(d) Invoice Journal
(e) General Journal
All supporting documents are to be maintained and used on a daily basis.
1.1 General Administration
(a) Purchase Orders (signed by council or band administrator)
(b) Contract Forms
(c) Accounting Files (properly filed by file code)
(d) Payroll Records, (all payroll checks to have payroll stubs attached before checks
being signed)
(e) Accepted Accounting Materials
(f) Travel expense forms (signed by authorized signature)
(g) Accounting codes on all cheque stubs
(h) Other authorized forms approved by CCB for proper accounting purposes.
2.0 Payroll
All staff to be paid on a bi-weekly basis which is 26 equal pay periods per year. This can
only be changed when authorized by the CCB Council.
2.1 Adjustment to Payroll
Adjustment to payroll requires Chief and Council Authorization. Prior to placement of any
employees on payroll or adjustment to existing payroll, the Band Administrator confirms
that the budget will sufficiently accommodate the additional expenditure.
2.2 Payroll Advances
All payroll advances have to be approved by the Band Administrator. A proper
authorization form has to be signed.
3.0 Salaries
All salaries are to be governed by a proper salary schedule adopted by the CCB Chief
and Council. All disputes with respect to salary levels will have to be brought before the
CCB Council for a formal decision.
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CAYOOSE CREEK BAND COUNCIL FINANCIAL POLICIES
4.0 Purchases
All purchases will be approved by the Band Administrator except in cases of large
purchases.
(a) A purchase order is required and a minimum of three (3) quotes are required on
amounts over $500.00.
(b) Anything over the amount of $500.00 must be approved by the Council.
(c) No purchases can be made without a proper purchase order being signed by an
authorized signing authority.
(d) When a purchase is being carried out by a person not authorized by the CCB council
or Band Administrator the CCB will not be obligated to pay for that purchase.
5.0 Pending Proposals and Funding Agreements
All pending proposals and ongoing funding agreements and documents shall be
maintained in the administration office. Band Administrator can sign contracts up to a
maximum of $500.00. The Finance Committee (the Chief and Council) will approve all
contracts exceeding this amount.
6.0 Travel Expenses
All travel expense funds for CCB Members, Staff, Employees and Patient Travel are to
be approved by the Band Administrator or in case of travel for the Band Administrator
then approval must be given by a member of the Council. All travel expenses will be
according to the CCB rates. Where possible employees or council will travel together to
save on mileage claimed.
(a) All cheque requisitions for travel will be processed on Wednesday of each week.
(b) All cheque requisitions must be received by 1:00pm on Wednesday in order to be
processed by the following Friday.
(c) No cheques will be processed at any other time unless it is an absolute emergency.
(d) Cheques will be returned to the appropriate department for distribution.
7.0 Budgets and Budget Reviews
All budgets are prepared annually and approved by Chief and Council. The Cayoose
Creek Band supports balanced budgets. Budget reviews will be conducted on a semiannual basis, by the band manager, CCB Council, and the Bookkeeper.
(a)All budgets, when received from various Government agencies, must be
reviewed by the Council.
(b)The Band Administrator is to review the administration budget when received
before going over with council.
(c) A balance sheet will be presented to the Council at all Council Meetings. The
bookkeeper will be responsible for having this up to date and will present to
Council at all meetings.
(d) At the first council meeting in December of each year, the Band Administrator
will complete and present a draft budget on projected expenditures for the rest of
the fiscal year. Also at this time any revenues completed by Aboriginal Affairs
and Northern Development will be presented to Council.
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CAYOOSE CREEK BAND COUNCIL FINANCIAL POLICIES
7.1 Budget Changes
Any changes to approved budgets must first be approved by the band administrator then by the
CCB Council.
8.0 Departmental Deficit Notification
Band Administrator or authorized staff cannot authorize any expenditure that will result in
an overall deficit within the department.
9.0 Category Deficit Notice
The Band Administrator or Staff cannot authorize any expenditure that will exceed the
approved budget within a particular category. Chief and Council can authorize any
expenditure within a particular category when the overall department or category is not
in a deficit position.
10.0 Inter-fund Transfers
Inter-fund transfers require written approval of the CCB Chief and Council.
11.0 Bank/Signing Authority
The CCB Chief and Council can authorize a debt to a maximum of $200,000.00 with an
approved debt reduction budget in place and if the debts/surplus ratio of the department
remains between 8%. All debt exceeding $200,000.00 requires approval of General
Membership and an approved debt reduction budget.
12.0 Cheques
(a) All CCB cheques are to be numerical order with the appropriate titles reflecting the
name of the organization, bank, date, amount, and sufficient lines to allow required
number of signatures from authorized signing authorities.
(b) All cheques are to be in typed form.
(c) All cheques are to have approval of Band Administrator before being signed by
Council. This will be shown by the Band Administrator initialing each cheque.
13.0 Financial Statements:
The Bookkeeper and Band Administrator are required to prepare financial statements in
a timely manner and report to Council on a monthly basis. All financial statements are to
be prepared by the book keeper. The financial statements and supporting documents to
be prepared monthly are:
(a) Balance sheet
(b) Combined statement of Revenue and Expenses
(c) Accounts Receivable schedule
(d) Accounts payable schedule
(e) Band reconciliations
(f) Statement of revenue and expenses per program
(g) Other appropriate information which will explain the financial status of the
organization up to date.
(h) Trial balance sheet
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CAYOOSE CREEK BAND COUNCIL FINANCIAL POLICIES
All financial statements are confidential, therefore will be collected after all CCB Council
meetings.
14.0 Annual Audit
The Band Administrator and Council will maintain adequate internal controls to ensure
the year-end audit is qualified.
(a) All audits are to be conducted on a fiscal year basis. The audit is to commence in
May of the following fiscal year.
(b) The bookkeeper will be responsible for contacting the auditor in March of each fiscal
year to develop a schedule for commencement.
(c) Audits are to be completed by May 31 of each year following the previous
operations.
(d) All audits must be approved by the CCB Council before being submitted to interested
third parties.
(e) The CCB Council will be responsible for selecting and approving the auditor for the
band.
15.0 Confidentiality
All financial information is confidential and must be kept in a locking filing cabinet.
Anyone wishing information with respect to the CCB who is not associated with the CCB
must receive written permission from the band administrator or two council members.
16.0 Personal Loans
The CCB Administration and Council will not accept any personal loan requests of any
kind.
17.0 Financial Files
All financial correspondence and material are to be kept in coded files.
This Financial Administrative Policy was discussed and approved by the CCB Council on this
________day of ________2012.
____________________________
Chief of Cayoose Creek
______________________
Councilor of Cayoose Creek
____________________________
Councilor of Cayoose Creek
______________________
Councilor of Cayoose Creek
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