Ensure that chapter funds are controlled and monitored per SCORE’s Accounting Policies and Procedures found in Chapter 7 of this SOM.
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.
SCORE may use NOMINAL award funds and other grant resources to solicit cash and in-kind contributions from the private sector to support the costs of carrying out the purposes of SCORE’s mission. Funds raised through such activities will not be considered program income where the SCORE Association makes only limited use of SBA-provided resources (computers, email, telephones, printers, etc.). No form of compensation can be received by SCORE volunteers or employees for time spent engaging in such efforts, and these fundraising activities may not involve more than a minimal additional expense to the Government. Contributions that do not meet these requirements must be treated as program income.
SCORE cannot solicit donations from clients in any way that would appear to be in return for the mentoring or educational services provided.
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