Centro Community Partners

“Centro's policy is to present the Form 990, including significant schedules, to the full Board of Directors. Each Board member will receive a copy of the Form 990 prior to the submission of the form to the Internal Revenue Service. 990 prepared by CPA. Management reviews 990, presents to board for review. Upon board approval, CPA files with appropriate tax agencies and management/accounting sends out any required paper forms.”

“By monthly closing procedures.”

“Centro's payroll policies and procedures specify that all employees who are hourly or report their time for grant-reporting purposes are required to complete a timecard for each pay period to document actual hours worked, leave used, and projects worked on each day. Within the QBO accounting system, each department is assigned to a functional area, such as Fundraising, Management & General, Programs. These assignments are used when uploading payroll data into QBO each month. In performing their job responsibilities, however, many employees spend their time in more than one of the functional areas. For example, the Executive and Communication departments provide services to Programs and Fundraising as well as to General Management, but their total compensation costs roll up into the Management & General functional classification. In order to properly reflect these broader roles, certain payroll and payroll-related costs are reallocated within these functional areas. The allocations are based upon timesheet entries and/or estimates of time spent Governance provisions include the requirement for financial audits, for audit committees, for public disclosure of audited statements, and for review and approval by the Board of Directors of compensation paid to an organizations Chief Executive Officer (CEO) and the Chief Financial Officer (CFO). (Policies for compliance with these provisions are covered in the Governance section as well as in the Audit Committee Charter and the Finance Committee Charter.) Complete and accurate personnel files are maintained and stored securely. Maintenance of all employee records for pay and job status is restricted to Human Resources; payment of employment compensation is managed by Payroll based on pay data maintained by Human Resources.”

“Available upon request.”