The SCORE Chapter Accounting Policies and Procedures Manual is an essential tool for effective chapter governance. As a federal grant recipient, SCORE must demonstrate a high commitment toward creating an environment that promotes responsible conduct by embracing standards of excellence, trustworthiness, and lawfulness (Federal Uniform Guidance). Chapters must
- identify the financial roles of its leaders and committees for management, oversight and processing activities;
- establish internal controls to safeguard a chapter’s assets;
- properly record financial transactions in an accounting system;
- prepare financial statements that conform to Generally Accepted Accounting Principles (GAAP);
- follow the accounting policies and procedures provided in the SCORE Operating Manual (SOM); and,
- chapters must comply with guidelines and restrictions provided by grantors, donors, SCORE’s National Office, and with federal grant restrictions.
All chapter staff and volunteers that have a role in the management of fiscal and accounting operations are expected to comply with the policies and procedures in this manual. These policies shall be reviewed annually and revised as needed by the Treasurer – such revisions become effective when approved by the Chapter’s Executive Committee. The SCORE National Office thanks Olav Vanstad of Chapter 243, Southern Nevada, for contributing the outline for this document.