FINANCIAL PLANNING & MANAGEMENT

FOR SWCD’s 

Presented by

Sarah A. Adams, CPAAdams & Co, PCLebanon, VA 24266

Owner/Manager of CPA firm specializing in Accounting, Tax and Technology Consulting

QuickBooks Certified ProAdvisorConsultant for SWCD’s for almost10 years including

re-write of Desktop Guide, state-wide QuickBooks training, and various speaking engagements

Former Acting Controller of Sprint United Telephone

SETTING THE STAGE

Fiduciary responsibilityA relationship which implies a

position of trust or confidence wherein one is usually entrusted to hold or manage property or money for another. Among the obligations a fiduciary owes to the principal are duties of loyalty; obedience; full disclosure; the duty to use skill, care and diligence; and the duty to account for all monies.

Evaluate where you are now

Higher level of responsibility Asset Protection Efficient and Productive Management of Resources

Staff timeFunds – coming in and going outAssets

Provide excellent services & programs

Managing within your budgetAccurate accounting and reporting

Maintain sound internal controlsOperate at a “profit”Cross-train with your employees

PLANNING FOR THE FUTURE

Revenue streams–flood or drought

Lobby hard with the stateKnow other competing projects being planned

Elect excellent members to your state board

Use grassroots lobbyingIncrease civic involvement

Equipment rentals should be profitable

Look at possible grantsBe active with your local governments

Ask local businesses for support of special projects

Keep in touch regularly with those controlling purse strings

Questions ….Are there any unconventional revenue streams that you have had some success with?

Rainy day funds

Desktop Guide – 3-6 months of reserve funds

May take several months or years to build this up but be diligent

Plan to use only in the event of an emergency

Budgeting for expensesReview budget continuously

Set up your budget in your accounting program

How tight is your budget?Review past expensesLittle dollar amounts can add up

Underutilized assets

Personnel expensesRent may be a large expense

Don’t sacrifice quality in critical areas

Be realistic about future costs

Prepare budget out 5 yrs

Allocate costs accurately

Proper determination of profitability

Shows state and local governments how their funds are used

Employee productivityProductivity issuesPossibly use specific time tracking

Employees are not always honest

Survey your customer base Expect more from your employees

Questions ….What are some things you’ve had to do to tighten your belt?

RESPONSIBLE MANAGEMENT

Prevention and Detection of Fraud

Employee abuseLack of separation of duties

Lack of other internal controls

Lack of oversight

Desk Top Guide

Review the guide annuallyCash management and control

Employee financial issuesProblem preventionOutside Procurement

Discretionary funds ReportingReview past year’s audit reports for deficiencies

Managing your best asset

Adhere to employment policies

Adhere to tax agency requirements

Open door policyFairnessFlexibility

Firmness tendered with understanding

Training in policies and procedures

Delegate with awareness of fiscal responsibility

BE PASSIONATE ABOUT YOUR

MISSION

The Board was established by the General Assembly to help guide the delivery of soil and water conservation services to citizens of the commonwealth. Services include financial support, coordination, information exchange to local SWCD’s; oversight and enforcement of nonpoint source pollution control programs including storm water management, erosion and sediment control and municipal separate storm sewers; and oversight and enforcement of dam safety and floodplain management programs.

"The Board may... act to ensure the general health, safety and welfare of the citizens of the Commonwealth as well as protect the quality and quantity of state waters from the potential harm of unmanaged stormwater."

You couldn't live long without clean water. Nothing can.

QUESTIONS OR

COMMENTS?