FINANCIAL MANAGEMENT SUMMER TRAINING FFY2012. Independent Child and Adult Care Sites. Summer 2012. FINANCIAL MANAGEMENT AGENDA. CACFP Financial Review Process Federal Financial Management Requirements DPI Financial Management Requirements Accounting System FFY2013 Budget
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CACFP Financial Review Process
Funding for personal expenses
To purchase soda/coffee for teachers, non-healthy and/or not enough food and snacks for participants
For the disorganized
Nonprofit Food Service
Measurements of Financial Viability
1. Accounting System
2. Approved Budget
3. Incurred Costs (Actual Costs)
* Information per GAAP
All wages, salaries, employee benefits, and the share of the employee taxes paid by the agency.
These are Administrative costs
These costs should never exceed food costs.
The CACFP funds are replacing funds you are now spending
Plan, budget, and organizing the funds available will help you to maximize your CACFP reimbursement.
No planning, using funds on non-program needs, no accountability of funds spent will result in loss of funding and/or participation
All Food Program Costs:
E-mail or call if need extension