INDIVIDUAL FINANCIAL POLICIES FOR REVIEW
Financial Systems Policies & Guidelines
The purpose of the Financial Systems Policies and Guidelines are to establish how MCN
financial policies and guidelines are created, disseminated, and amended, and the role of the
board of directors and management.
Authority to Sign Contracts
This policy establishes the Board of Directors of MCN as the entity with the authority to enter
into contracts and authorizes the CEO, or her/his designee, to negotiate and sign contracts for the
corporation.
Insurance & Bonding
The purpose of this policy is to establish that MCN has secured a blanket position bond or
fidelity insurance for all staff members and officers whose duties involve the handling of
resources of the organization. MCN maintains Directors & Officers liability insurance.
Investments
This policy establishes that the CEO is authorized to handle MCN investments. The CFO
performs the recording and documentation of investments and their income.
Endowment Fund
This guideline establishes the governance and management of the Endowment Fund.
Annual Income & Expense Budget, HRSA Budget and Cooperative Agreement
This purpose of this policy is to set forward procedures for approval of the annual budget, and
the HRSA budget and Cooperative Agreement Work Plan.
Budget Reconciliations
This policy describes the Annual Budget review and revision cycle.
Receiving Cash
This policy details the process for handling cash.
MCN Policy
Financial Systems Policies & Guidelines
Area:




Corporate Governance Policy
Corporate Functions Guideline
Financial Functions Guideline
Clinical Functions Guideline
Approved By:
Most Recent Approval Date:
Board of Directors
CEO
CFO
CMO
March 22, 2011
First Approval Date:
Dates Reviewed: 2011, 2014
Dates Reviewed by Staff: 1/25/10, January 2014
Next Review Due: 2015
Dates Revised: 3/07
Purpose: To establish policies and procedures that govern the financial operations of
the Migrant Clinicians Network
Mandated by: Funding Sources, Internal Controls
Applies to: MCN corporate financial functions
Definitions: 
For more information: n/a
Text of Policy:
MCN maintains financial systems policies and guidelines in order to clarify the rules,
regulations, and appropriate behaviors surrounding the organization’s financial resources. As a
non-profit agency, MCN will maintain the best possible financial controls to enable the
organization to have as much money as possible in order to provide the services MCN is
established to provide.
Dissemination of Financial Policies & Guidelines
MCN financial systems policies and guidelines will be posted in an online format on the MCN
servers. Selected new staff members are required to read the financial systems policies as
determined by the CEO and/or CFO, and will be required to read each one within two weeks
(fourteen working days) of their start with MCN. Staff members who are required to review the
financial policies and do not do so within two weeks (fourteen working days) of their start with
MCN may face disciplinary procedures.
When policies are added or modified, existing MCN financial staff will be notified through two
mechanisms:
1. Announcement of the new or modified policy at a staff meeting
2. Announcement of the new or modified policy via an email
On a yearly basis, staff will read all policy manuals and will acknowledge their understanding of
the policies and guidelines in writing.
Amendment or Addition of Financial Policies & Guidelines
Financial policies and guidelines are reviewed and updated on a regular basis. The most recent
policies/guidelines supersede and rescind all previous financial policy and guideline statements,
and become the official policy statements of MCN. Policies and guidelines are reviewed by the
board of directors or member of management who approved the previous version of the policy.
Amendments or additions to any policy may be recommended at any regular meeting of the
Board, the Executive Committee.
After study by the Board, the Executive Committee and after the CEO has had the opportunity to
review and comment, the amendment or addition may be passed by a simple majority of the
Board at any regular meeting or through the online Board Forum
Amendments or additions to financial function guidelines are made at the discretion of the
CFO, in consultation with the CEO, the Board, employees and/or contractors, as necessary.
Roles of Board and Management
The Board of Directors is responsible for the financial soundness of the MCN programs,
including the provision of financial support and the oversight of program expenditures. The
Board approves the annual operating budget, as recommended by the Chief Financial Officer
(CFO) and reviews and approves financial reports prepared by the Chief Financial Officer (CFO)
twice a year. In addition, the Executive Committee of the Board reviews and approves the
monthly financial reports. The expenditure of funds for the acquisition or rehabilitation of real
estate is subject to prior specific Board approval.
The Board is responsible for initiating, promoting, and participating in the development of
financial support for MCN programs.
The Board elects a Treasurer to take the Board lead in reviewing MCN’s financial operations,
including monthly financials and audit.
The Chief Executive Officer (CEO) is responsible for ensuring that financial duties are divided
among staff to ensure, to the greatest degree possible, that the opportunity for theft,
embezzlement and fraud is minimized.
The Chief Financial Officer (CFO) is responsible for administrating MCN’s financial policies
and procedures. The CFO is responsible for coordinating areas such as budgeting, bill paying,
payroll, employee benefits, invoicing, collections, incoming funds, and MCN’s independent
audit, although many activities in these areas are delegated to other staff.
The responsibility for implementing financial policies lies with the CEO and CFO.
Any employee found to have violated this policy may be subject to disciplinary action, up to and
including termination of employment.
MCN Policy
Authority to Sign Contracts
Area:
Corporate Governance Policy
Corporate Functions Guideline
Financial Functions Guideline
Clinical Functions Guideline
Approved By:
Board of Directors
CEO
CFO
CMO
First Approval Date:
Dates Reviewed: 2011
Dates Revisions Announced to Staff : 01/20/10
Purpose:
Mandated by:
Applies to:
Definitions:
For more information:
Most Recent Approval Date:
3/22/2011
Next Review Due: 2013
Dates Revised: 3/07
To safeguard MCN’s financial resources by authorizing only certain
individuals to sign contracts on behalf of the organization.
Funding Sources, Internal Controls
MCN corporate financial functions
n/a
Text of Policy:
The Board of Directors of MCN authorizes the CEO, or her/his designee, to negotiate and sign
contracts for the corporation.
Any employee found to have violated this policy may be subject to disciplinary action, up to and
including termination of employment.
MCN Policy
Insurance & Bonding
Area:
Corporate Governance Policy
Corporate Functions Guideline
Financial Functions Guideline
Clinical Functions Guideline
First Approval Date:
Dates Reviewed: 2011
Reviewed by Staff: January 2014
Purpose:
Mandated by:
Applies to:
Definitions:
For more information:
Approved By:
Board of Directors
CEO
CFO
CMO
Most Recent Approval Date:
3/22/2011
Next Review Due: 2013
Dates Revised:
To protect MCN staff members and officers by maintaining a corporate
insurance policy.
Funding Sources, Internal Controls
MCN corporate financial functions
n/a
Text of Policy:
MCN has secured a blanket position bond or fidelity insurance for all staff members and officers
whose duties involve the handling of resources of the organization. This serves to protect against
loss through larceny, theft, embezzlement, forgery, misapplication, wrongful abstraction, willful
misapplication, or any other fraudulent or dishonest act or acts committed by any one or more of
the employees, acting directly or in collusion with others.
MCN maintains Directors & Officers liability insurance.
MCN Policy
Investments
Area:
Corporate Governance Policy
Corporate Functions Guideline
Financial Functions Guideline
Clinical Functions Guideline
First Approval Date: 2009
Dates Reviewed: 2011
Reviewed by Staff: January 2014
Purpose:
Mandated by:
Applies to:
Definitions:
For more information:
Approved By:
Board of Directors
CEO
CFO
CMO
Most Recent Approval Date:
March 22, 2011
Next Review Due: 2013
Dates Revised:
To safeguard MCN investments by distributing tasks related to investments to
more than one individual.
Funding Sources, Internal Controls
MCN corporate financial functions
n/a
Text of Policy
The CEO handles investments. The CFO performs the recording and documentation of
investments and their income.
Marketable securities, should they be acquired by MCN, will be kept in a bank safe deposit box.
Any employee found to have violated this policy may be subject to disciplinary action, up to and
including termination of employment.
MCN Policy
Endowment Fund
Area:
Corporate Governance Policy
Corporate Functions Guideline
Financial Functions Guideline
Clinical Functions Guideline
First Approval Date: 2009
Dates Reviewed: 2011
Approved By:
Board of Directors
CEO
CFO
CMO
Most Recent Approval Date:
March 22, 2011
Next Review Due: 2013
Dates Revised:
Reviewed by Staff: January 2014
Purpose:
Mandated by:
Applies to:
Definitions:
For more information:
To safeguard and maintain the endowment Fund exclusively for MCN
purposes
Funding Sources, Internal Controls
MCN corporate financial functions
n/a
Text of Policy
The Endowment Fund consists of all money and all real and personal property allocated to the
Endowment Fund by action of the MCN Board of Directors at duly called meetings at which a
quorum is present, and all gifts and bequests specifically made to the Endowment Fund by any
person or entity, except to the extent any such gift or bequest is declined as provided below.
All gifts into and/or distributions out of the Endowment Fund are consistent with the laws
governing corporations as defined by Section 501©3 of the Internal Revenue Code.
The Endowment Fund is managed by and is the property of the Austin Community Foundation.
All agreements, on behalf of MCN Endowment fund, with advisors or agents to administer,
manage or hold any portion of the assets comprising the Endowment Fund, including, but not
limited to, entering into agency or other agreements with the trust department of a financial
institution having trust powers to invest and reinvest such assets on behalf of MCN Endowment
Fund shall be presented to the Board of Directors for Approval. Each such agreement shall be
initially approved by the Executive Committee of the board.
Restricted gifts or donations designated for the Endowment Fund shall be presented to the Board
of Directors for acceptance or refusal. The Executive Committee shall make a recommendation
to the Board relative to any gift or bequest which is restricted as to its use, or purpose or which
does not seem appropriate to the mission, vision, values or purposes of MCN.
Gifts of Stocks and Bonds to the Endowment Fund are to be sold immediately upon receipt. The
proceeds will be added to the corpus of the Endowment Fund. The dollar value of such sales will
be applied to the donor’s outstanding pledge balances.
Gifts of real property to the Endowment Fund are to be retained in the form received or sold
upon recommendation of the Executive Committee with approval by the Board of Directors.
Each potential gift, other than cash, shall be reviewed to determine the appropriateness of the
gift. The determination, and approval by the Board of Directors, will be accomplished within a
reasonable period, not to exceed 45 days. The Chief Executive Officer or the Chief Financial
Officer will notify prospective donors of the review requirement and of the 45-day limit on the
review period. Gifts of real property will require appropriate advance environmental liability
review, in consultant with the Board of Directors and the MCN legal counsel.
The Endowment Fund will be maintained as Follows:
So long as the corpus of the Endowment Fund is less the one hundred thousand dollars
($100,000), income (as defined by interest and dividends earned) in respect of the Endowment
Fund shall be accumulated and added to the corpus of the Endowment Fund.
All audit information furnished to MCN by the Austin community foundation shall be made
available to any MCN member upon written request to MCN. Where appropriate, steps shall be
taken to preserve the anonymity of each donor to the Endowment Fund other than any donor who
consented to disclosure of such donor’s identity.
The staff and Board of Directors, shall at all times take appropriate steps in connection with the
management of the Endowment Fund to maintain the continued tax exempt status of MCN in
compliance with applicable provisions of the Internal Revenue Code and to avoid classification
of MCN as a private foundation.
A copy of the policies governing the MCN Endowment Fund will be provided to any potential
contributor, MCN Board members or financial institution upon request.
Gifts of tribute including Memorial gifts (given in memory of someone who has passed away)
and/or Honorariums (given in honor of an individual, or to commemorate a happy occasion) will
be placed in the MCN Endowment Fund, unless otherwise specified or restricted by the donor.
Gifts given to the Endowment, as a part of a pledge to the Endowment shall appear under the
Endowment recognition portion of the Annual Report.
All such donations are tax deductible and will be used to advance the mission of MCN.
Any employee found to have violated this policy may be subject to disciplinary action, up to and
including termination of employment.
MCN Policy
Annual Income & Expense Budget, HRSA Budget and Cooperative
Agreement
Area:
Corporate Governance Policy
Corporate Functions Guideline
Financial Functions Guideline
Clinical Functions Guideline
First Approval Date:
Dates Reviewed: 2011
Reviewed by Staff: January 2014
Purpose:
Mandated by:
Applies to:
Definitions:
For more information:
Approved By:
Board of Directors
CEO
CFO
CMO
Most Recent Approval Date:
March 22, 2011
Next Review Due: 2013
Dates Revised: 03/07
To plan for anticipated income and expenses.
HRSA, other Funding Sources, Internal Controls
MCN corporate financial functions
n/a
Text of Policy:
An annual budget for Income and Expense is prepared by the CEO and CFO and presented for
approval. The draft budget is reviewed by the treasurer and submitted for approval to the Board
of Directors. The HRSA cooperative agreement work plan and budget are reviewed and
approved by the Board of Directors annually.
MCN Policy
Budget Reconciliations
Area:
Corporate Governance Policy
Corporate Functions Guideline
Financial Functions Guideline
Clinical Functions Guideline
First Approval Date: 2007
Dates Reviewed: 2011
Reviewed by Staff: January 2014
Purpose:
Mandated by:
Applies to:
Definitions:
For more information:
Approved By:
Board of Directors
CEO
CFO
CMO
Most Recent Approval Date:
March 22, 2011
Next Review Due: 2013
Dates Revised: 03/07
To reconcile anticipated income and expenses with actual income and
expenses.
Funding Sources, Internal Controls
MCN corporate financial functions
n/a
Text of Policy:
The annual budget is reviewed against expenses by the Treasurer and Executive Committee as a
part of their review of the monthly financial statements and recommended for approval by the
entire board. A mid-course review of the annual budget is conducted by the CEO and CFO
updates and revisions are presented for approval, as needed.
MCN Policy
Receiving Cash
Area:
 Corporate Governance Policy
 Corporate Functions Guideline
 Financial Functions Guideline
 Clinical Functions Guideline
First Approval Date:
Dates Reviewed: 2011
Reviewed by Staff: January 2014
Purpose:
Mandated by:
Applies to:
Definitions:
For more information:
Approved By:
Board of Directors
CEO
CFO
CMO
Most Recent Approval Date:
3/22/2011
Next Review Due: 2013
Dates Revised: 2007
To safeguard the handling of cash received as a donation or payment for
goods
Funding Sources, Internal Controls
MCN corporate financial functions

n/a
Text of Policy:
Cash Receipts
When cash is received (as a donation or as payment for goods, such as at a conference exhibit), a
receipt will be written, if requested, in order to document: the name of the person providing the
cash, the amount of cash, the date, and the purpose (donation or payment). One copy of the
receipt must be given to the person donating or paying the cash, and the other must be returned
to the financial office. If an anonymous donation of cash is made, the receipt should be written
to “Anonymous”.
Cash is reconciled with receipts returned prior to deposit.
Cash Deposits
All cash received is stored in a locked bag until deposited in the bank. Deposits are prepared by
the Associate, Administrative staff and entered into the accounting system and deposited by the
Associate, Financial staff. The deposit is either taken or mailed to the bank within five working
days, depending on the size of the transaction.