Management recognizes the critical nature of enhanced internal control over review and approval of grant expenditures, including segregation of duties from the individual responsible for executing, reviewing and approving the expenditure.
During 2024, management implemented a system where the program manager approves the expenditure based on the program needs and allowable cost standards, with review and sign off of the payment voucher by the Controller and, where required, the CFO. Further, management has put detailed approvals into place on all account payable items through vouchers required to be signed off on by the requesting party, and the related manager, as well as the appropriate
C-Suite party.
On a weekly basis, accounts payable detail by invoice is reviewed by the CEO, COO and CFO, approving payments to be made during that specific week. Once communicated, changes are made, if necessary, and approval is given to the Controller to have payments made via check, ACH or credit card.