Executive Committee Actions and Finance Next Steps The Urban League of Greater Pittsburgh’s Executive Committee convened to identify key areas of significance and outline the next steps for the organization’s financial operations. The primary focus of the discussion was on empowering individuals to ...
Executive Committee Actions and Finance Next Steps The Urban League of Greater Pittsburgh’s Executive Committee convened to identify key areas of significance and outline the next steps for the organization’s financial operations. The primary focus of the discussion was on empowering individuals to lead the organization and establishing modernized, well-managed financial systems, procedures, and practices. Policies and Procedures The Committee recognized that the Urban League of Greater Pittsburgh of Greater Pittsburgh maintains a long-established Policies and Procedures Manual, which incorporates controls mandated under the Uniform Guidance. This manual serves as the foundation for the organization’s financial management and ensures compliance with regulatory requirements. Leadership and Staffing To strengthen financial oversight, the Committee recommended recruiting a full-time Vice President of Finance. This position has been successfully filled, bringing dedicated leadership to the finance department. Strengthening Internal Controls Immediate next steps include a thorough review and enhancement of internal controls to ensure that financial risks are appropriately managed. These measures are being implemented with the aim of safeguarding the organization's assets and maintaining the integrity of financial reporting. Third-Party Involvement The Urban League of Greater Pittsburgh has engaged a third-party provider to assist with documenting key deliverables, organizing and convening meetings, and overseeing daily executions. This partnership is designed to enable more timely financial reporting and the development of a comprehensive plan that documents roles, responsibilities, procedures, and practices—including necessary approvals—for managing billings, receivables, cash flow, and other critical accounting and finance functions. Role of the Treasurer The Treasurer of the Urban League of Greater Pittsburgh has played a vital role in the implementation of these initiatives. The Treasurer actively participates in regularly scheduled weekly meetings, helping to ensure ongoing oversight and the effective execution of improvements to the organization’s financial management practices. Staff Roles and Responsibilities In Order to improve performance, collaboration, and to distribute the workload effectively. The Urban League has defined individuals and their role to strengthen Internal Controls. The staff responsible for the administration and oversight include: President/CEO Responsible for signing checks, authorizing payroll, approving transfers between bank accounts, and endorsing all Account Clearing House transactions. VP/Finance Reviews bank reconciliations and co-signs check with a second signatory. Approves Positive Pay transactions, initiates and completes transfers between accounts, reviews and authorizes payroll, enters Automatic Clearing House transactions, and oversees Accounts Payable approvals. This position will provide internal oversight to ensure financial reporting is timely and accurate. Accountant Records transactions in the accounting software. All payment requests to vendors require approval from both the Vice President of Finance and Program Managers. Prepares checks, inputs them into Positive Pay, requests Automated Clearing House payments, reconciles bank statements, and processes payroll. The accountant also initials inter-account bank transfers, manages deposit entries (stamps, records, and distributes check copies), and ensures proper authorization for Accounts Payable entries in the software. Executive Assistant Opens and logs checks into a tracking spreadsheet.