Field Organization and Key Policies
Each field entity (chapter, district, region) must:
- Establish financial practices and procedures per SCORE’s Accounting Policies and Procedures. The following should be included in those procedures:
- The requirement for chapter chair approval on any expenses of $2,000 or more, and
- The requirement that all expenses are for legitimate business purposes.
- Ensure that chapter funds are controlled and monitored.
- Report financial activities as required by SCORE Headquarters Finance team.
- Set budgets based on the chapter’s business plan
- Have ongoing fundraising efforts to ensure sufficient funding for ongoing chapter operations.
- Maintain funds not to exceed 12 months
- The goal for chapter funds to ensure proper cash flow for routine operations, not to grow cash reserves.
- If a chapter has in excess of 12 months of operational expenses, without a plan to utilize the funds to further SCORE’s mission, there are 2 actions that may be applied.
- The District Director may reallocate the chapter’s budget allocation until chapter funds are consumed
- Chapters can donate funds for expansion efforts local within their district