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Board of Directors Orientation

Learn about OCN's budget creation process, financial statements preparation, review by committees, and availability for your review. Includes revenue, expense, and audit details.

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Board of Directors Orientation

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  1. Board of Directors Orientation Budget and Financial Statements

  2. OCN Budget • Created by OCN staff at the end of the calendar year. • Submitted to the Finance Committee for review • Finance Committee approves the budget for consideration by the Full Board.

  3. OCN Financial Statements • Prepared by an outside bookkeeping firm on a monthly basis • Reviewed by OCN Staff, Treasurer and Finance Committee • Presented to the Board at regular intervals • Always available for your review

  4. OCN Financial Statements • Consist of multiple pages providing: • Overview of assets and liabilities • Monthly revenue and expenses • Monthly and year-to-date revenue and expenses in relation to budget • Revenue and expenses by program, by fund, and by month

  5. Revenue Categories

  6. Expense Categories

  7. Audited Financial Statements Financial Statements are sent to an independent CPA for review or full audit on a yearly basis.

  8. Questions about Financial Statements … Leda Garside, Treasurer Jana R. Bitton, Executive Director

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