Financial Controls 1: Background
CHF BC has taken a broad view of financial controls. We have nine guideline documents that cover different concerns and a range of processes including: general guidelines; budgeting and forecasting; accounting and reporting systems; authorization and approval processes; guardrails on personnel and paying Members, audits and fraud; training and education; and financial document retention.
If you’ve seen previous financial resources from CHF BC, you may notice that we now include less detail in some of the recommendations. We have found that the task of developing financial procedures should be left to those who are most closely involved in operations (i.e., co-op boards and management). We have offered some suggestions for procedures, but your co-op will have to develop detailed lists.
