HOME & COMMUNITYPolicy No.: BRD-4-20*

SUPPORT SERVICESReviewed: Jan, 2005

--OF GREY-BRUCE--Cross-Referenced: ADM-5-120*

Page: 1 of 2

SECTION: BOARD

TOPIC: FINANCIAL/LEGAL

POLICY TITLE: AUDITS

POLICY STATEMENT

In accordance with Ministry of Health - Long Term Care Regulations and the Bylaws of the agency, a licensed public accountant will conduct the annual audit of the financial statements of Home and Community Support Services of Grey Bruce.

PROCEDURE

  1. A motion appointing the Company responsible for the Audit will be made by the Board of Directors of Home and Community Support Services of Grey Bruce and ratified by the members of the Agency at the Annual General Meeting.
  1. Co-ordination of the audit is the responsibility of the Financial Officer in consultation with the Executive Director.
  1. In preparation for the audit the following documents are assembled for review by the Auditor:

a)Minutes of all Board Meetings held during the reporting period;

b)Budget submissions and approved budgets;

c)Bank statements and bank reconciliation;

d)Canceled cheques, invoices and purchase orders;

e)Accounts receivable ledgers, general ledgers and accounts payable ledgers;

f)All correspondence to and from the Ministry of Health which pertain to financial matters;

g)All lease agreements:

h)Any documents pertaining to financial obligation or liabilities;

i)Any other documents required by the Auditor which pertain to the financial resources, disbursements or policies of the organization.

  1. An audited report will be provided to the Ministry of Health in accordance with the guidelines set by the Ministry of Health - Long Term Care Division - Planning, Funding and Accountability Manual and the Legal Agreement between the Ministry of Health and Home and Community Support Services of Grey Bruce.
  1. In accordance with the Bylaws of Home and Community Support Services of Grey Bruce an audited financial statement will be presented for approval by the general membership at the Annual General Meeting in the month of June. It will be made available to the general public at this time.

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