Change in Bill Pay and Deposit for CVHA

Your board has implemented the following.

The deposit and payment of funds for CVHA at times go through as many as 4 hands before a payment or deposit is made.  This results in  as many as 3 sets of financial records being kept.  This situation exists because we have a hybrid financial system from when we paid our own bills melded with electronic banking.  By allowing our accounting firm of Robin Malneritch Inc. to pay and deposit we take full advantage of electronic banking efficiencies.  Robins company is licensed, bonded and insured, she has been our accountant for 5+ years.

As deposits and bills arrive at the CVHA mailbox they are collected and entered on a log sheet to capture pertinent information.  They are batched when possible and taken to Robins office where she does the deposit or pays bills by check or direct  pay.

The CVHA treasurer and president cross reference the log sheet of financial activity with our Key bank monthly statement.  At each quarterly meeting the board will review and approve the financial activity.  At the end of the year Robin will print our final financial reports and transfer them along with the years records to CVHA.  Prior to the annual meeting the Board will review and sign off on the years financial activity.  This final product will be available at the annual meeting and will insure the independent auditors have timely access to organized financial records.

This will be a 3 month trial period to allow for any adjustments that need to be made.

Thanks to previous boards and treasurers who have helped evolve CVHA finances to this point.

G. Castellane for the current CVHA Board of Directors.

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