Financial Controls 6: Guardrails on Personnel and Paying Members
Although employment and tax law are outside the scope of our expertise, we do offer some recommendations around personnel and paying members.
Sample Procedures
- Develop the resources needed to carry out co-op polices and other procedures.
- Standardize an expense reimbursement form (including any provisions for travel costs).
- Create accounting codes so expenses can be properly attributed.
- Remit appropriately (and regularly) to Canada Revenue Agency.
- Develop fair and transparent hiring practices.
- Ensure employment contracts include documentation of salary increases and sufficient approvals.
- Ensure honoraria are properly credited for income tax purposes.
Try our self-test checklist.
